Prudential PLC Buys 11,952 Shares of Fox Co. (NASDAQ:FOXA)

Prudential PLC grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 27.0% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 56,146 shares of the company’s stock after purchasing an additional 11,952 shares during the period. Prudential PLC’s holdings in FOX were worth $2,728,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Foundry Partners LLC boosted its position in FOX by 11.8% during the 4th quarter. Foundry Partners LLC now owns 382,666 shares of the company’s stock valued at $18,590,000 after acquiring an additional 40,311 shares in the last quarter. Westpac Banking Corp lifted its stake in shares of FOX by 2.2% in the 4th quarter. Westpac Banking Corp now owns 105,120 shares of the company’s stock valued at $5,107,000 after purchasing an additional 2,270 shares during the period. Ardmore Road Asset Management LP bought a new stake in shares of FOX during the fourth quarter valued at approximately $14,574,000. National Bank of Canada FI grew its stake in FOX by 19.6% in the fourth quarter. National Bank of Canada FI now owns 59,716 shares of the company’s stock worth $2,901,000 after purchasing an additional 9,804 shares during the period. Finally, Franklin Resources Inc. raised its holdings in FOX by 164.8% in the fourth quarter. Franklin Resources Inc. now owns 469,547 shares of the company’s stock worth $22,811,000 after purchasing an additional 292,205 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research reports. Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Loop Capital upped their price objective on shares of FOX from $60.00 to $62.00 and gave the stock a “buy” rating in a report on Tuesday, April 1st. UBS Group raised their target price on shares of FOX from $50.00 to $63.00 and gave the company a “buy” rating in a research note on Thursday, February 13th. JPMorgan Chase & Co. boosted their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and raised their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $51.56.

FOX Stock Performance

Shares of FOXA stock opened at $49.73 on Friday. The firm has a market capitalization of $22.55 billion, a PE ratio of 10.65, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a 50 day moving average price of $54.27 and a 200-day moving average price of $48.54. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. 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 (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 EPS. As a group, equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a yield of 1%. FOX’s payout ratio is 11.56%.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction 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 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. Corporate insiders own 21.77% of the company’s stock.

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.