Westpac Banking Corp Purchases 2,270 Shares of Fox Co. (NASDAQ:FOXA)

Westpac Banking Corp raised its position in Fox Co. (NASDAQ:FOXA) by 2.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 105,120 shares of the company’s stock after acquiring an additional 2,270 shares during the period. Westpac Banking Corp’s holdings in FOX were worth $5,107,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of FOXA. WealthTrak Capital Management LLC purchased a new position in FOX during the 4th quarter worth $26,000. SRS Capital Advisors Inc. grew its stake in shares of FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the fourth quarter valued at about $28,000. Jones Financial Companies Lllp raised its position in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $57.04 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1 year low of $30.02 and a 1 year high of $58.74. The firm has a market capitalization of $25.86 billion, a PE ratio of 12.21, a P/E/G ratio of 1.27 and a beta of 0.51. The business’s 50 day moving average price is $54.19 and its 200-day moving average price is $48.39.

FOX (NASDAQ:FOXA) last announced its earnings results 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company posted $0.34 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. As a group, equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

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

Insider Activity

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The shares were 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. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts have recently commented on FOXA shares. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Loop Capital lifted their price target on FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a research report on Tuesday. Wells Fargo & Company cut their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Bank of America increased their price target on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $51.56.

FOX Company 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.