Davis R M Inc. Sells 561 Shares of Fox Co. (NASDAQ:FOXA)

Davis R M Inc. lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 3.4% in the fourth quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor owned 15,845 shares of the company’s stock after selling 561 shares during the quarter. Davis R M Inc.’s holdings in FOX were worth $770,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Jones Financial Companies Lllp grew its stake in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares in the last quarter. SRS Capital Advisors Inc. boosted its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the period. US Bancorp DE grew its position in shares of FOX by 2.0% during the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after purchasing an additional 281 shares in the last quarter. Metis Global Partners LLC increased its holdings in shares of FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock worth $524,000 after purchasing an additional 292 shares during the period. Finally, Callan Capital LLC raised its position in shares of FOX by 7.4% in the fourth quarter. Callan Capital LLC now owns 5,385 shares of the company’s stock worth $262,000 after buying an additional 371 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction 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 completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Stock Down 2.6 %

FOXA opened at $52.72 on Wednesday. Fox Co. has a 12 month low of $29.14 and a 12 month high of $58.74. 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 business’s 50-day moving average price is $52.50 and its 200-day moving average price is $46.94. The company has a market cap of $23.90 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 19.9% on a year-over-year basis. During the same period in the previous year, the firm earned $0.34 EPS. On average, equities analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the company. Bank of America boosted their target price 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. upped their price objective on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on shares of FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Citigroup boosted their price target on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Wells Fargo & Company raised their price objective on shares of FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a research report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus price target of $51.19.

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.