Van ECK Associates Corp Purchases Shares of 1,838 Fox Co. (NASDAQ:FOXA)

Van ECK Associates Corp acquired a new stake in Fox Co. (NASDAQ:FOXA) during the fourth quarter, Holdings Channel.com reports. The firm acquired 1,838 shares of the company’s stock, valued at approximately $89,000.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the 4th quarter worth approximately $28,000. Brooklyn Investment Group grew its holdings in shares of FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after acquiring an additional 466 shares in the last quarter. Quest Partners LLC bought a new position in shares of FOX in the third quarter valued at approximately $51,000. Quarry LP bought a new position in shares of FOX in the third quarter valued at approximately $70,000. Finally, Versant Capital Management Inc grew its holdings in FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Several brokerages have weighed in on FOXA. Macquarie reissued a “neutral” rating and set a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. UBS Group increased their price objective on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup increased 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. Deutsche Bank Aktiengesellschaft increased their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Loop Capital increased their price objective on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One equities research 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, the company currently has a consensus rating of “Hold” and a consensus target price of $51.19.

Insider Activity

In other 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 value of $69,178.14. Following 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 transaction was disclosed in a filing with the SEC, which is available at this link. Company insiders own 21.77% of the company’s stock.

FOX Trading Down 0.7 %

NASDAQ FOXA opened at $56.95 on Monday. The company has a fifty day simple moving average of $50.83 and a two-hundred day simple moving average of $45.55. The stock has a market cap of $25.82 billion, a P/E ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76. Fox Co. has a 12-month low of $28.28 and a 12-month high of $58.12. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. The firm had revenue of $5.08 billion during 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 was up 19.9% compared to the same quarter last year. During the same quarter last year, the company posted $0.34 earnings per share. On average, analysts forecast that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

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 given a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio (DPR) is 11.56%.

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.