BNP PARIBAS ASSET MANAGEMENT Holding S.A. Sells 44,500 Shares of Fox Corporation $FOXA

BNP PARIBAS ASSET MANAGEMENT Holding S.A. decreased its stake in shares of Fox Corporation (NASDAQ:FOXA) by 18.5% during the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 196,094 shares of the company’s stock after selling 44,500 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A.’s holdings in FOX were worth $12,136,000 at the end of the most recent quarter.

Other large investors also recently made changes to their positions in the company. Greenleaf Trust increased its holdings in FOX by 3.8% during the third quarter. Greenleaf Trust now owns 6,198 shares of the company’s stock worth $391,000 after buying an additional 225 shares during the last quarter. Captrust Financial Advisors lifted its stake in FOX by 6.2% in the second quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock valued at $314,000 after acquiring an additional 327 shares during the last quarter. Amalgamated Bank grew its position in shares of FOX by 0.9% in the 2nd quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock valued at $2,393,000 after acquiring an additional 360 shares during the period. CX Institutional increased its stake in shares of FOX by 10.5% during the 3rd quarter. CX Institutional now owns 4,610 shares of the company’s stock worth $291,000 after purchasing an additional 438 shares during the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Activity

In other news, insider Adam G. Ciongoli sold 29,897 shares of the firm’s stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. 19.68% of the stock is currently owned by insiders.

FOX Stock Performance

FOXA opened at $56.16 on Friday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. The business has a fifty day simple moving average of $69.89 and a 200 day simple moving average of $64.42. Fox Corporation has a 1 year low of $46.42 and a 1 year high of $76.39. The company has a market capitalization of $23.89 billion, a PE ratio of 13.50, a price-to-earnings-growth ratio of 7.52 and a beta of 0.51.

FOX (NASDAQ:FOXA) last posted its earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The company had revenue of $5.18 billion during the quarter, compared to the consensus estimate of $5.02 billion. During the same quarter last year, the firm earned $0.96 earnings per share. The company’s revenue was up 2.0% on a year-over-year basis. Research analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which will be paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, March 4th. This represents a yield of 83.0%. FOX’s payout ratio is currently 13.46%.

Analysts Set New Price Targets

A number of equities analysts recently commented on FOXA shares. Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Barclays cut their price objective on FOX from $64.00 to $63.00 and set an “equal weight” rating for the company in a research report on Thursday, February 5th. TD Cowen lifted their target price on FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a research note on Thursday, February 5th. Fox Advisors set a $97.00 target price on FOX in a report on Tuesday, October 28th. Finally, UBS Group raised their price target on FOX from $76.00 to $78.00 and gave the company a “buy” rating in a report on Thursday, February 5th. Eight investment analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average price target of $75.07.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.