Pinebridge Investments L.P. Buys New Holdings in Fox Co. (NASDAQ:FOXA)

Pinebridge Investments L.P. purchased a new position in shares of Fox Co. (NASDAQ:FOXA) during the fourth quarter, Holdings Channel.com reports. The institutional investor purchased 39,149 shares of the company’s stock, valued at approximately $1,902,000.

A number of other institutional investors have also recently bought and sold shares of FOXA. WealthTrak Capital Management LLC bought a new position in shares of FOX during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. raised its stake in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX in the 4th quarter valued at $28,000. Jones Financial Companies Lllp grew its holdings in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC increased its position in shares of FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research analyst reports. Wells Fargo & Company decreased their price objective on shares of FOX from $63.00 to $58.00 and set an “overweight” rating on the stock in a research note on Thursday, April 17th. Moffett Nathanson downgraded 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 research report on Tuesday, January 21st. UBS Group decreased their target price on FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a report on Tuesday, April 15th. Cfra Research upgraded FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Finally, Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target on the stock. in a research report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $50.65.

FOX Trading Up 0.7 %

NASDAQ:FOXA opened at $49.35 on Monday. 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 Co. has a 1-year low of $30.92 and a 1-year high of $58.74. The firm has a market capitalization of $22.38 billion, a price-to-earnings ratio of 10.57, a PEG ratio of 1.27 and a beta of 0.51. The business’s 50-day moving average price is $52.81 and its two-hundred day moving average price is $49.41.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same quarter last year, the firm earned $0.34 EPS. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. 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 disclosed 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 was Wednesday, March 5th. FOX’s payout ratio is presently 11.56%.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

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.