Fox Co. (NASDAQ:FOXA) Shares Purchased by Empowered Funds LLC

Empowered Funds LLC lifted its stake in Fox Co. (NASDAQ:FOXA) by 53.9% in the 4th quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 433,029 shares of the company’s stock after purchasing an additional 151,573 shares during the period. Empowered Funds LLC owned approximately 0.09% of FOX worth $21,037,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FOXA. Crossmark Global Holdings Inc. raised its position in FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after acquiring an additional 385 shares during the last quarter. Ritholtz Wealth Management raised its position in FOX by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock worth $491,000 after acquiring an additional 399 shares during the last quarter. Kathmere Capital Management LLC raised its position in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after acquiring an additional 431 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after acquiring an additional 451 shares during the last quarter. Finally, Brooklyn Investment Group raised its position in FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have issued reports on the stock. TD Cowen lifted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Wells Fargo & Company boosted 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. UBS Group boosted their price objective on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Barclays boosted their price objective on shares of FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and an average target price of $50.19.

FOX Price Performance

FOXA opened at $52.79 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 52-week low of $28.28 and a 52-week high of $55.56. The company has a 50 day moving average of $49.03 and a two-hundred day moving average of $44.20. The company has a market cap of $24.11 billion, a P/E ratio of 11.30, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its 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. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the previous year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, 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 will be paid on Wednesday, March 26th. Stockholders 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 dividend yield of 1%. FOX’s payout ratio is currently 11.56%.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on 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 represents a 4.10 % 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.

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.