MRP Capital Investments LLC Grows Position in Fox Co. (NASDAQ:FOXA)

MRP Capital Investments LLC increased its holdings in Fox Co. (NASDAQ:FOXA) by 100.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,900 shares of the company’s stock after buying an additional 950 shares during the quarter. MRP Capital Investments LLC’s holdings in FOX were worth $92,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of FOX during the 3rd quarter worth approximately $51,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FOX during the 3rd quarter valued at approximately $2,867,000. Commerce Bank purchased a new position in shares of FOX during the 3rd quarter valued at approximately $301,000. BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in FOX by 7.0% in the 3rd quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 261,089 shares of the company’s stock valued at $11,052,000 after purchasing an additional 17,149 shares in the last quarter. Finally, Intech Investment Management LLC purchased a new position in FOX in the 3rd quarter valued at $5,043,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $53.21 on Friday. The company has a market cap of $24.13 billion, a P/E ratio of 11.39, a P/E/G ratio of 1.27 and a beta of 0.67. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The stock has a 50-day moving average of $52.95 and a two-hundred day moving average of $47.41. Fox Co. has a 1-year low of $29.89 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data 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 return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. As a group, analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently announced 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. This represents a dividend yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on FOXA shares. UBS Group raised their price objective on FOX from $50.00 to $63.00 and gave the company a “buy” rating in a report on Thursday, February 13th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and raised their price objective for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Bank of America raised 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. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Finally, Barclays lifted their price target on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a report on Wednesday, February 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus target price of $51.19.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale 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 value of $69,178.14. Following the transaction, 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 position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX 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.