Fox Co. (NASDAQ:FOXA) Shares Bought by Paralel Advisors LLC

Paralel Advisors LLC increased its position in shares of Fox Co. (NASDAQ:FOXA) by 10.0% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 80,294 shares of the company’s stock after acquiring an additional 7,296 shares during the quarter. FOX accounts for about 0.2% of Paralel Advisors LLC’s holdings, making the stock its 27th largest position. Paralel Advisors LLC’s holdings in FOX were worth $3,901,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in the business. Nomura Asset Management Co. Ltd. increased its position in FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock valued at $2,924,000 after acquiring an additional 590 shares in the last quarter. M&T Bank Corp grew its stake in FOX by 7.4% during the third quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after buying an additional 1,010 shares in the last quarter. Prestige Wealth Management Group LLC lifted its holdings in shares of FOX by 14.7% in the third quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after acquiring an additional 569 shares during the last quarter. Toronto Dominion Bank raised its holdings in FOX by 11.8% during the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock worth $3,220,000 after purchasing an additional 8,040 shares during the last quarter. Finally, Invst LLC acquired a new stake in shares of FOX during the 3rd quarter worth approximately $740,000. 52.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of research analysts have weighed in on the company. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a report on Monday. Barclays cut their price target on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday. JPMorgan Chase & Co. raised their price objective on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a research report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Finally, Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and boosted their price target for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Two equities research analysts have 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, the stock currently has an average rating of “Hold” and a consensus price target of $51.06.

FOX Price Performance

Shares of FOXA stock traded down $0.93 on Thursday, reaching $50.58. The company’s stock had a trading volume of 113,470 shares, compared to its average volume of 3,339,398. 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’s fifty day simple moving average is $54.15 and its 200-day simple moving average is $48.79. The company has a market capitalization of $22.93 billion, a price-to-earnings ratio of 10.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. Fox Co. has a 1 year low of $30.02 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business earned $0.34 EPS. The firm’s quarterly revenue was up 19.9% on a year-over-year basis. Analysts forecast that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s payout ratio is 11.56%.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction 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. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated 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 owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

About FOX

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.