M&R Capital Management Inc. lessened its holdings in Fox Co. (NASDAQ:FOXA – Get Rating) by 11.5% in the 4th quarter, HoldingsChannel.com reports. The firm owned 105,754 shares of the company’s stock after selling 13,746 shares during the quarter. FOX comprises approximately 0.9% of M&R Capital Management Inc.’s portfolio, making the stock its 28th largest holding. M&R Capital Management Inc.’s holdings in FOX were worth $3,212,000 as of its most recent SEC filing.
Other hedge funds have also recently added to or reduced their stakes in the company. BlackRock Inc. increased its holdings in shares of FOX by 9.9% during the third quarter. BlackRock Inc. now owns 44,282,377 shares of the company’s stock worth $1,358,584,000 after buying an additional 3,976,775 shares in the last quarter. Rothschild & Co. Asset Management US Inc. increased its holdings in shares of FOX by 1,986.9% during the second quarter. Rothschild & Co. Asset Management US Inc. now owns 1,835,470 shares of the company’s stock worth $59,030,000 after buying an additional 1,747,519 shares in the last quarter. Pacer Advisors Inc. increased its holdings in shares of FOX by 17,573.1% during the third quarter. Pacer Advisors Inc. now owns 1,344,568 shares of the company’s stock worth $41,251,000 after buying an additional 1,336,960 shares in the last quarter. Goldman Sachs Group Inc. increased its holdings in shares of FOX by 121.4% during the first quarter. Goldman Sachs Group Inc. now owns 1,379,852 shares of the company’s stock worth $54,435,000 after buying an additional 756,487 shares in the last quarter. Finally, Invesco Ltd. increased its holdings in shares of FOX by 16.0% during the first quarter. Invesco Ltd. now owns 4,617,824 shares of the company’s stock worth $182,174,000 after buying an additional 637,439 shares in the last quarter. Institutional investors and hedge funds own 55.65% of the company’s stock.
Insider Transactions at FOX
In other news, insider Viet D. Dinh sold 72,207 shares of FOX stock in a transaction on Thursday, February 9th. The shares were sold at an average price of $35.91, for a total transaction of $2,592,953.37. Following the transaction, the insider now directly owns 49,384 shares of the company’s stock, valued at $1,773,379.44. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Insiders own 19.86% of the company’s stock.
FOX Trading Down 0.6 %
FOX (NASDAQ:FOXA – Get Rating) last announced its quarterly earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. The company had revenue of $4.61 billion for the quarter, compared to analysts’ expectations of $4.58 billion. FOX had a net margin of 10.55% and a return on equity of 15.71%. The business’s quarterly revenue was up 3.7% compared to the same quarter last year. During the same period last year, the firm posted $0.13 earnings per share. As a group, sell-side analysts expect that Fox Co. will post 3.49 EPS for the current year.
FOX Dividend Announcement
The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st will be given a dividend of $0.25 per share. The ex-dividend date is Tuesday, February 28th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio is 18.32%.
Wall Street Analysts Forecast Growth
FOXA has been the subject of several recent analyst reports. Morgan Stanley raised their price objective on shares of FOX from $37.00 to $39.00 and gave the stock an “equal weight” rating in a report on Thursday, February 9th. UBS Group decreased their price target on shares of FOX from $44.00 to $42.00 and set a “buy” rating on the stock in a research note on Monday, January 9th. Rosenblatt Securities increased their price target on shares of FOX from $31.00 to $35.00 and gave the company a “neutral” rating in a research note on Thursday, February 9th. Wells Fargo & Company increased their price target on shares of FOX from $40.00 to $44.00 and gave the company an “overweight” rating in a research note on Wednesday, February 8th. Finally, Deutsche Bank Aktiengesellschaft increased their price target on shares of FOX from $39.00 to $40.00 and gave the company a “buy” rating in a research note on Thursday, February 9th. Two analysts have rated the stock with a sell rating, six have assigned a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $37.88.
Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.
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