Rhumbline Advisers Sells 23,276 Shares of Fox Co. (NASDAQ:FOXA)

Rhumbline Advisers lowered its position in Fox Co. (NASDAQ:FOXA) by 5.2% in the 4th quarter, Holdings Channel reports. The firm owned 420,113 shares of the company’s stock after selling 23,276 shares during the quarter. Rhumbline Advisers’ holdings in FOX were worth $20,409,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in FOXA. Pacer Advisors Inc. lifted its stake in FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Jacobs Levy Equity Management Inc. lifted its stake in FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the last quarter. Robeco Institutional Asset Management B.V. increased its position in shares of FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock worth $59,174,000 after acquiring an additional 919,883 shares during the period. KBC Group NV increased its position in shares of FOX by 56.1% during the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after acquiring an additional 851,127 shares during the period. Finally, Glenmede Trust Co. NA increased its position in shares of FOX by 244.0% during the third quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock worth $16,486,000 after acquiring an additional 276,259 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Stock Down 0.1 %

Shares of NASDAQ FOXA opened at $57.40 on Friday. Fox Co. has a 12-month low of $28.28 and a 12-month high of $57.72. The stock has a market cap of $26.03 billion, a PE ratio of 12.29, a P/E/G ratio of 1.24 and a beta of 0.76. 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 company has a 50-day moving average of $50.64 and a 200 day moving average of $45.32.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.62 by $0.34. The company 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%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.34 EPS. As a group, sell-side analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders 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 yield of 1%. FOX’s payout ratio is 11.56%.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’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 in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.