CIBC Asset Management Inc Purchases 1,056 Shares of Fox Co. (NASDAQ:FOXA)

CIBC Asset Management Inc grew its holdings in shares of Fox Co. (NASDAQ:FOXA) by 3.0% in the fourth quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 36,357 shares of the company’s stock after purchasing an additional 1,056 shares during the quarter. CIBC Asset Management Inc’s holdings in FOX were worth $1,766,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FOXA. Migdal Insurance & Financial Holdings Ltd. bought a new position in FOX in the 4th quarter worth approximately $28,000. Brooklyn Investment Group lifted its position in shares of FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after acquiring an additional 466 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of FOX during the third quarter worth $51,000. Quarry LP bought a new position in shares of FOX in the third quarter worth $70,000. Finally, Versant Capital Management Inc grew its position in shares of FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $56.95 on Friday. The stock’s 50-day moving average is $50.83 and its 200 day moving average is $45.46. The stock has a market cap of $25.82 billion, a price-to-earnings ratio of 12.19, a P/E/G ratio of 1.27 and a beta of 0.76. Fox Co. has a 1-year low of $28.28 and a 1-year high of $58.12. 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 (NASDAQ:FOXA) last posted 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 firm had revenue of $5.08 billion for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. On average, sell-side analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

Wall Street Analyst Weigh In

FOXA has been the subject of several analyst reports. JPMorgan Chase & Co. raised their target price on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Guggenheim raised their price objective on shares of FOX from $55.00 to $60.00 and gave the company a “buy” rating in a research report on Wednesday, February 5th. UBS Group upped their target price on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and raised their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus target price of $51.00.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on 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. Company 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.