Wells Fargo & Company MN Cuts Stock Position in Fox Co. (NASDAQ:FOXA)

Wells Fargo & Company MN cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 2.9% in the fourth quarter, HoldingsChannel.com reports. The fund owned 613,879 shares of the company’s stock after selling 18,182 shares during the period. Wells Fargo & Company MN’s holdings in FOX were worth $29,822,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of FOXA. CIBC Private Wealth Group LLC grew its holdings in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after buying an additional 368 shares in the last quarter. JPMorgan Chase & Co. raised its holdings in FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after acquiring an additional 110,753 shares during the last quarter. Invst LLC purchased a new position in FOX in the 3rd quarter worth approximately $740,000. Asset Management One Co. Ltd. boosted its holdings in shares of FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the last quarter. Finally, Park Avenue Securities LLC boosted its holdings in shares of FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after purchasing an additional 3,787 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’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 transaction 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. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

FOX Trading Down 1.3 %

FOXA opened at $48.89 on Friday. Fox Co. has a 52 week low of $30.02 and a 52 week high of $58.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The business has a fifty day simple moving average of $53.98 and a 200-day simple moving average of $48.89. The firm has a market cap of $22.17 billion, a P/E ratio of 10.47, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same period in the previous year, the company posted $0.34 EPS. On average, equities analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s payout ratio is currently 11.56%.

Analyst Ratings Changes

FOXA has been the topic of a number of analyst reports. Wells Fargo & Company reduced their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research report on Wednesday, March 26th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Citigroup raised their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Barclays reduced their target price on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a research note on Tuesday. Finally, The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Two investment analysts have 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 MarketBeat.com, FOX presently has a consensus rating of “Hold” and an average target price of $51.06.

FOX Company 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.