PNC Financial Services Group Inc. Has $35.13 Million Stake in Fox Co. (NASDAQ:FOXA)

PNC Financial Services Group Inc. decreased its stake in shares of Fox Co. (NASDAQ:FOXA) by 2.2% during the fourth quarter, HoldingsChannel.com reports. The fund owned 723,188 shares of the company’s stock after selling 16,134 shares during the period. PNC Financial Services Group Inc.’s holdings in FOX were worth $35,132,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Pacer Advisors Inc. grew its stake in FOX by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after buying an additional 425,186 shares during the last quarter. Charles Schwab Investment Management Inc. grew its stake in FOX by 1.6% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock valued at $117,458,000 after buying an additional 37,505 shares during the last quarter. KBC Group NV grew its position in shares of FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after purchasing an additional 851,127 shares during the last quarter. Jacobs Levy Equity Management Inc. grew its position in shares of FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock valued at $58,716,000 after purchasing an additional 964,737 shares during the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its position in shares of FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after purchasing an additional 919,883 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s 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 completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’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 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 ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research analyst reports. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. 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 note on Wednesday, December 18th. Barclays raised their price objective on shares of FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research note on Wednesday, February 5th. JPMorgan Chase & Co. raised their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Finally, Loop Capital raised their price target on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $51.19.

FOX Trading Up 0.5 %

Shares of FOXA opened at $55.67 on Monday. Fox Co. has a 1 year low of $28.67 and a 1 year high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a 50 day simple moving average of $52.31 and a 200-day simple moving average of $46.77. The stock has a market cap of $25.24 billion, a PE ratio of 11.92, a PEG ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the prior year, the company posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. On average, sell-side analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. This represents a dividend yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 11.56%.

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.