Norges Bank Makes New Investment in Fox Co. (NASDAQ:FOXA)

Norges Bank purchased a new stake in Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund purchased 2,720,479 shares of the company’s stock, valued at approximately $132,161,000.

Other hedge funds also recently made changes to their positions in the company. SRS Capital Advisors Inc. boosted its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after acquiring an additional 262 shares in the last quarter. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX during the fourth quarter worth about $28,000. Jones Financial Companies Lllp boosted its holdings in FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares in the last quarter. Brooklyn Investment Group grew its stake in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the period. Finally, Quarry LP acquired a new position in shares of FOX in the 3rd quarter worth approximately $70,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

Several brokerages recently commented on FOXA. JPMorgan Chase & Co. boosted their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research note on Wednesday, February 5th. Bank of America upped their target price on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Wells Fargo & Company decreased their price objective on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a research note on Wednesday, March 26th. Finally, Citigroup boosted their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.13.

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’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 value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, 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 disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

FOX Price Performance

Shares of FOXA stock opened at $56.60 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 12 month low of $30.02 and a 12 month high of $58.74. The firm has a market cap of $25.66 billion, a price-to-earnings ratio of 12.12, a PEG ratio of 1.27 and a beta of 0.67. The stock has a 50-day moving average price of $53.86 and a 200 day moving average price of $48.22.

FOX (NASDAQ:FOXA) last issued 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. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same quarter in the previous year, the company earned $0.34 EPS. FOX’s revenue was up 19.9% on a year-over-year basis. Research analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The business also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 11.56%.

FOX 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.