Beese Fulmer Investment Management Inc. Increases Position in Fox Co. (NASDAQ:FOXA)

Beese Fulmer Investment Management Inc. boosted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 5.9% during the fourth quarter, HoldingsChannel.com reports. The firm owned 9,029 shares of the company’s stock after purchasing an additional 500 shares during the period. Beese Fulmer Investment Management Inc.’s holdings in FOX were worth $439,000 at the end of the most recent reporting period.

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

FOX Stock Down 2.4 %

Shares of NASDAQ:FOXA opened at $53.24 on Friday. 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 firm has a 50 day simple moving average of $48.79 and a 200-day simple moving average of $44.03. The company has a market capitalization of $24.32 billion, a PE ratio of 13.02, a P/E/G ratio of 1.25 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $55.56.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the company posted $0.34 earnings per share. On average, equities analysts predict that Fox Co. will post 4.12 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 13.20%.

Analyst Ratings Changes

FOXA has been the topic of several research analyst reports. The Goldman Sachs Group lifted their price objective on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a report on Thursday, December 19th. Citigroup increased 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. JPMorgan Chase & Co. lifted their target price on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Finally, Moffett Nathanson lowered shares of FOX from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $50.19.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction 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 transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was 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 insiders.

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.