Metis Global Partners LLC Raises Stake in Fox Co. (NASDAQ:FOXA)

Metis Global Partners LLC boosted its position in Fox Co. (NASDAQ:FOXA) by 2.8% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 10,783 shares of the company’s stock after buying an additional 292 shares during the quarter. Metis Global Partners LLC’s holdings in FOX were worth $524,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other hedge funds and other institutional investors have also bought and sold shares of the company. JPMorgan Chase & Co. boosted its stake in FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after buying an additional 110,753 shares in the last quarter. Entropy Technologies LP purchased a new stake in shares of FOX during the third quarter valued at approximately $546,000. Invst LLC purchased a new stake in shares of FOX during the third quarter valued at approximately $740,000. Asset Management One Co. Ltd. boosted its stake in shares of FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after purchasing an additional 23,704 shares during the period. Finally, B. Metzler seel. Sohn & Co. Holding AG purchased a new stake in shares of FOX during the third quarter valued at approximately $2,867,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated 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 sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, 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 value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company’s stock, valued at $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. 21.77% of the stock is owned by insiders.

Analyst Ratings Changes

FOXA has been the subject of a number of analyst reports. Bank of America increased their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. JPMorgan Chase & Co. increased their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and increased their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Loop Capital upped their target price on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Finally, 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. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $51.19.

FOX Stock Performance

Shares of FOX stock opened at $56.34 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $25.55 billion, a P/E ratio of 12.06, a P/E/G ratio of 1.27 and a beta of 0.76. The business has a fifty day simple moving average of $52.07 and a two-hundred day simple moving average of $46.50. Fox Co. has a 12 month low of $28.28 and a 12 month high of $58.74.

FOX (NASDAQ:FOXA) last posted its quarterly 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. The firm had revenue of $5.08 billion during 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% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, equities analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently declared 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 dividend payout ratio is presently 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.