Empirical Finance LLC Lowers Stake in Fox Co. (NASDAQ:FOXA)

Empirical Finance LLC cut its stake in Fox Co. (NASDAQ:FOXA) by 10.0% in the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 21,884 shares of the company’s stock after selling 2,441 shares during the period. Empirical Finance LLC’s holdings in FOX were worth $1,063,000 as of its most recent SEC filing.

Other institutional investors have also added to or reduced their stakes in the company. Ritholtz Wealth Management lifted its position in FOX by 62.0% in the third quarter. Ritholtz Wealth Management now owns 9,705 shares of the company’s stock valued at $411,000 after purchasing an additional 3,715 shares during the last quarter. Exchange Traded Concepts LLC purchased a new position in shares of FOX in the third quarter worth $141,000. Creative Planning raised its holdings in FOX by 18.2% during the 3rd quarter. Creative Planning now owns 34,617 shares of the company’s stock valued at $1,465,000 after buying an additional 5,340 shares during the last quarter. Kapitalo Investimentos Ltda boosted its position in FOX by 21.2% during the 3rd quarter. Kapitalo Investimentos Ltda now owns 19,857 shares of the company’s stock valued at $841,000 after buying an additional 3,473 shares during the period. Finally, Vontobel Holding Ltd. grew its holdings in FOX by 87.9% in the 3rd quarter. Vontobel Holding Ltd. now owns 24,961 shares of the company’s stock worth $1,057,000 after acquiring an additional 11,678 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $53.25 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The firm has a market cap of $24.32 billion, a PE ratio of 11.40, a P/E/G ratio of 1.17 and a beta of 0.76. Fox Co. has a 12 month low of $28.28 and a 12 month high of $55.56. The stock has a fifty day moving average price of $49.03 and a 200-day moving average price of $44.30.

FOX (NASDAQ:FOXA) last released its earnings results 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 company had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter in the previous year, the firm earned $0.34 EPS. FOX’s revenue was up 19.9% compared to the same quarter last year. Equities research analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s payout ratio is currently 11.56%.

Analysts Set New Price Targets

FOXA has been the subject of several research analyst reports. Deutsche Bank Aktiengesellschaft increased their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. TD Cowen lifted their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Guggenheim upped their price objective on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. Loop Capital lifted their target price on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Finally, UBS Group boosted their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to MarketBeat.com, FOX has an average rating of “Hold” and an average target price of $50.19.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred 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 transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

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.