Venturi Wealth Management LLC Increases Holdings in Fox Co. (NASDAQ:FOXA)

Venturi Wealth Management LLC increased its stake in Fox Co. (NASDAQ:FOXA) by 121.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 3,189 shares of the company’s stock after purchasing an additional 1,750 shares during the quarter. Venturi Wealth Management LLC’s holdings in FOX were worth $155,000 at the end of the most recent quarter.

Other hedge funds also recently made changes to their positions in the company. Pacer Advisors Inc. grew its position in FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after buying an additional 7,897,710 shares in the last quarter. Jacobs Levy Equity Management Inc. grew its position in FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its position in FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after buying an additional 919,883 shares in the last quarter. KBC Group NV grew its position in FOX by 56.1% during the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after buying an additional 851,127 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its position in FOX by 244.0% during the third quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock worth $16,486,000 after buying an additional 276,259 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

FOX Stock Down 0.7 %

Shares of NASDAQ:FOXA opened at $56.95 on Friday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $58.12. The company has a market cap of $25.82 billion, a PE ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock’s 50-day moving average is $50.83 and its 200 day moving average is $45.51.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the business earned $0.34 EPS. FOX’s 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 Dividend Announcement

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

Analyst Upgrades and Downgrades

Several equities research analysts have issued reports on FOXA shares. Wells Fargo & Company lifted their price target on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and lifted their price target for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. The Goldman Sachs Group set a $60.00 price target on FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Bank of America lifted their price target on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Barclays lifted their price target on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $51.19.

FOX Profile

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.