Kentucky Retirement Systems Reduces Stake in Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems lowered its position in Fox Co. (NASDAQ:FOXA) by 1.4% during the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 15,437 shares of the company’s stock after selling 213 shares during the period. Kentucky Retirement Systems’ holdings in FOX were worth $750,000 as of its most recent filing with the Securities & Exchange Commission.

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

FOX Stock Up 1.8 %

Shares of FOXA opened at $58.00 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a one year low of $28.28 and a one year high of $58.38. The stock has a market capitalization of $26.30 billion, a price-to-earnings ratio of 12.42, a PEG ratio of 1.27 and a beta of 0.76. The stock has a 50 day moving average price of $51.05 and a 200 day moving average price of $45.68.

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 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 analysts’ expectations of $4.78 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s revenue for the quarter was up 19.9% on a year-over-year basis. Equities research analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently declared 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 of this dividend is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Analyst Ratings Changes

A number of research analysts have issued reports on FOXA shares. TD Cowen boosted their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their price target on FOX from $59.00 to $64.00 and gave the company an “overweight” rating in a report on Wednesday, February 5th. Bank of America boosted their price target on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Evercore ISI raised FOX to a “hold” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note 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 given a buy rating to the stock. According to data from MarketBeat, the stock presently has an average rating of “Hold” and a consensus target price of $51.19.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 1,278 shares of the business’s 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 completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. 21.77% of the stock is owned by company insiders.

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.