Fox Co. (NASDAQ:FOXA) Shares Sold by Heron Bay Capital Management

Heron Bay Capital Management decreased its position in Fox Co. (NASDAQ:FOXA) by 11.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 310,849 shares of the company’s stock after selling 40,336 shares during the quarter. FOX accounts for about 3.2% of Heron Bay Capital Management’s holdings, making the stock its 12th biggest holding. Heron Bay Capital Management owned 0.07% of FOX worth $15,101,000 at the end of the most recent reporting period.

A number of other institutional investors also recently added to or reduced their stakes in the company. SRS Capital Advisors Inc. raised its holdings in shares of 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 in the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the fourth quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares in the last quarter. Brooklyn Investment Group lifted its holdings in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares during the last quarter. Finally, Quest Partners LLC acquired a new position in shares of FOX during the 3rd quarter worth about $51,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of FOXA opened at $53.40 on Friday. 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 stock’s 50 day moving average is $53.06 and its two-hundred day moving average is $47.54. Fox Co. has a twelve month low of $30.02 and a twelve month high of $58.74. The firm has a market capitalization of $24.21 billion, a PE ratio of 11.43, a P/E/G ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last posted its quarterly 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 firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business earned $0.34 earnings per share. Research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current 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 issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FOXA. Wells Fargo & Company boosted their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a “buy” rating in a research report on Tuesday, February 4th. Guggenheim lifted their price target on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday, February 5th. Finally, Bank of America increased their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $51.19.

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Company Profile

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.