Retirement Systems of Alabama Decreases Holdings in Fox Co. (NASDAQ:FOXA)

Retirement Systems of Alabama reduced its position in Fox Co. (NASDAQ:FOXA) by 0.2% in the 4th quarter, according to its most recent filing with the SEC. The fund owned 657,255 shares of the company’s stock after selling 1,231 shares during the period. Retirement Systems of Alabama’s holdings in FOX were worth $31,929,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FOXA. Algert Global LLC purchased a new stake in shares of FOX in the 2nd quarter valued at about $362,000. Creative Planning lifted its holdings in shares of FOX by 119.2% in the 2nd quarter. Creative Planning now owns 29,277 shares of the company’s stock valued at $1,006,000 after purchasing an additional 15,921 shares during the last quarter. Sanctuary Advisors LLC purchased a new stake in shares of FOX in the 2nd quarter valued at about $962,000. Czech National Bank lifted its holdings in shares of FOX by 3.9% in the 3rd quarter. Czech National Bank now owns 45,762 shares of the company’s stock valued at $1,937,000 after purchasing an additional 1,714 shares during the last quarter. Finally, GAMMA Investing LLC lifted its holdings in shares of FOX by 65.1% in the 3rd quarter. GAMMA Investing LLC now owns 5,505 shares of the company’s stock valued at $233,000 after purchasing an additional 2,171 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on 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 sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $54.53 on Thursday. The stock has a market capitalization of $24.91 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.25 and a beta of 0.76. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The business’s 50 day moving average is $48.63 and its two-hundred day moving average is $43.95. Fox Co. has a 12-month low of $28.28 and a 12-month high of $55.56.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 16.49% and a net margin of 13.40%. The company’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.34 EPS. Research analysts expect that Fox Co. will post 4.12 EPS for the current year.

FOX Dividend Announcement

The company 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 $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 13.20%.

Wall Street Analyst Weigh In

Several analysts have recently weighed in on FOXA shares. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Bank of America upped their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Citigroup upped their price objective on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Loop Capital upped their price objective on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, Evercore ISI raised FOX to a “hold” rating in a research note on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. According to MarketBeat.com, FOX currently has a consensus rating of “Hold” and an average price target of $50.19.

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.