Fox Co. (NASDAQ:FOXA) Stock Holdings Trimmed by PNC Financial Services Group Inc.

PNC Financial Services Group Inc. lowered its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.2% during the 4th quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 723,188 shares of the company’s stock after selling 16,134 shares during the period. PNC Financial Services Group Inc. owned approximately 0.16% of FOX worth $35,132,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in FOXA. US Bancorp DE raised its stake in shares of FOX by 4.0% during the third quarter. US Bancorp DE now owns 14,239 shares of the company’s stock valued at $603,000 after purchasing an additional 550 shares in the last quarter. Principal Financial Group Inc. raised its position in shares of FOX by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after buying an additional 1,178 shares in the last quarter. Crossmark Global Holdings Inc. raised its position in shares of FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after buying an additional 385 shares in the last quarter. Entropy Technologies LP bought a new stake in shares of FOX during the 3rd quarter worth about $546,000. Finally, GSA Capital Partners LLP bought a new stake in FOX during the third quarter worth approximately $620,000. Institutional investors own 52.52% of the company’s stock.

Insider Activity

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on FOXA shares. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Loop Capital boosted their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. UBS Group boosted their price target on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Guggenheim boosted their price target on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Wells Fargo & Company boosted their price target on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. According to MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.19.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $55.67 on Monday. The company’s fifty day moving average is $52.31 and its two-hundred day moving average is $46.77. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $28.67 and a 12-month high of $58.74. The company has a market cap of $25.24 billion, a P/E ratio of 11.92, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 earnings per share. Equities analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is 11.56%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.