Fox Co. (NASDAQ:FOXA) Shares Sold by Partners Capital Investment Group LLP

Partners Capital Investment Group LLP cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 61.3% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 112,319 shares of the company’s stock after selling 178,065 shares during the quarter. Partners Capital Investment Group LLP’s holdings in FOX were worth $5,456,000 as of its most recent SEC filing.

Several other hedge funds have also recently modified their holdings of FOXA. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the fourth quarter worth $28,000. Brooklyn Investment Group lifted its holdings in shares of FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the period. Quest Partners LLC acquired a new stake in shares of FOX during the third quarter worth $51,000. Quarry LP purchased a new position in FOX in the third quarter worth $70,000. Finally, Versant Capital Management Inc raised its position in FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after acquiring an additional 1,669 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several research firms have issued reports on FOXA. Guggenheim increased their price objective on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Bank of America increased their price objective on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Evercore ISI upgraded FOX to a “hold” rating in a research report on Tuesday, November 5th. Finally, Macquarie reiterated a “neutral” rating and issued a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus target price of $51.00.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $55.63 on Monday. Fox Co. has a one year low of $28.28 and a one year high of $55.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. The company has a 50 day moving average price of $49.82 and a 200 day moving average price of $44.84. The firm has a market capitalization of $25.41 billion, a price-to-earnings ratio of 11.91, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same quarter in the prior year, the business earned $0.34 earnings per share. The business’s quarterly revenue was up 19.9% compared to the same quarter last year. Sell-side analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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