Summit Trail Advisors LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

Summit Trail Advisors LLC purchased a new stake in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 10,275 shares of the company’s stock, valued at approximately $499,000.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Savant Capital LLC boosted its position in FOX by 20.1% during the 4th quarter. Savant Capital LLC now owns 7,909 shares of the company’s stock worth $384,000 after buying an additional 1,322 shares during the period. Newbridge Financial Services Group Inc. raised its stake in shares of FOX by 136.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,226 shares of the company’s stock valued at $885,000 after acquiring an additional 10,517 shares during the last quarter. Entropy Technologies LP raised its stake in shares of FOX by 48.4% during the fourth quarter. Entropy Technologies LP now owns 19,142 shares of the company’s stock valued at $930,000 after acquiring an additional 6,246 shares during the last quarter. Empowered Funds LLC lifted its holdings in shares of FOX by 53.9% during the fourth quarter. Empowered Funds LLC now owns 433,029 shares of the company’s stock worth $21,037,000 after purchasing an additional 151,573 shares during the period. Finally, Kingsview Wealth Management LLC bought a new stake in shares of FOX in the fourth quarter worth $3,418,000. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $53.39 on Wednesday. The stock’s 50 day moving average is $49.16 and its 200-day moving average is $44.41. Fox Co. has a twelve month low of $28.28 and a twelve month high of $55.56. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $24.39 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 net margin of 14.39% and a return on equity of 18.50%. The firm’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter last year, the firm earned $0.34 EPS. Sell-side analysts forecast that Fox Co. will post 4.38 EPS 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. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Wall Street Analyst Weigh In

Several research analysts recently issued reports on FOXA shares. Wells Fargo & Company raised their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research report on Wednesday, February 5th. Citigroup raised their price objective on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. TD Cowen upped their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Macquarie restated a “neutral” rating and set a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. Finally, Bank of America upped their price objective on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus price target of $50.19.

Insider Activity at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s 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 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 filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

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.