SG Americas Securities LLC Buys 99,363 Shares of Fox Corporation $FOXA

SG Americas Securities LLC lifted its stake in Fox Corporation (NASDAQ:FOXA) by 346.6% during the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 128,029 shares of the company’s stock after buying an additional 99,363 shares during the quarter. SG Americas Securities LLC’s holdings in FOX were worth $9,355,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other large investors have also recently made changes to their positions in FOXA. Ameriprise Financial Inc. grew its stake in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after acquiring an additional 762,645 shares during the period. Lazard Asset Management LLC raised its stake in FOX by 624.5% during the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after acquiring an additional 242,321 shares during the period. Marshall Wace LLP lifted its holdings in FOX by 415.7% during the second quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock valued at $12,921,000 after purchasing an additional 185,859 shares in the last quarter. Fort Washington Investment Advisors Inc. OH lifted its holdings in FOX by 9.3% during the third quarter. Fort Washington Investment Advisors Inc. OH now owns 662,247 shares of the company’s stock valued at $41,761,000 after purchasing an additional 56,234 shares in the last quarter. Finally, California State Teachers Retirement System boosted its position in shares of FOX by 16.6% in the second quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after purchasing an additional 49,963 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analyst Weigh In

Several brokerages have recently commented on FOXA. Argus upgraded shares of FOX to a “hold” rating in a research report on Thursday, February 19th. TD Cowen upped their target price on shares of FOX from $55.00 to $65.00 and gave the stock a “hold” rating in a report on Thursday, February 5th. Evercore increased their price target on FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a research note on Thursday, February 5th. UBS Group set a $64.00 price target on FOX in a report on Tuesday, February 24th. Finally, Wells Fargo & Company lowered their price objective on FOX from $75.00 to $67.00 and set an “equal weight” rating on the stock in a research report on Friday. Seven investment analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus price target of $71.27.

FOX Stock Performance

FOXA opened at $59.11 on Monday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 7.28 and a beta of 0.55. The company has a fifty day moving average of $61.75 and a 200 day moving average of $64.37. Fox Corporation has a fifty-two week low of $46.42 and a fifty-two week high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping the consensus estimate of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same quarter in the previous year, the company earned $0.96 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared a dividend, which was paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th were paid a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, March 4th. This represents a yield of 83.0%. FOX’s dividend payout ratio is presently 13.46%.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 242,309 shares of FOX stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the sale, the chief operating officer owned 357,653 shares of the company’s stock, valued at $20,650,884.22. The trade was a 40.39% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the company’s stock in a transaction that occurred on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. This trade represents a 99.98% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Over the last three months, insiders have sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is owned by corporate insiders.

FOX 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.