Fox Corporation $FOXA Shares Sold by Fort Washington Investment Advisors Inc. OH

Fort Washington Investment Advisors Inc. OH lowered its stake in shares of Fox Corporation (NASDAQ:FOXA) by 39.0% in the fourth quarter, Holdings Channel reports. The institutional investor owned 403,769 shares of the company’s stock after selling 258,478 shares during the quarter. Fort Washington Investment Advisors Inc. OH’s holdings in FOX were worth $29,503,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after acquiring an additional 621 shares in the last quarter. EverSource Wealth Advisors LLC grew its holdings in FOX by 286.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock worth $77,000 after acquiring an additional 1,014 shares in the last quarter. Baird Financial Group Inc. grew its holdings in FOX by 19.7% during the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock worth $981,000 after acquiring an additional 2,876 shares in the last quarter. Marshall Wace LLP increased its position in shares of FOX by 415.7% in the 2nd quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock worth $12,921,000 after purchasing an additional 185,859 shares during the last quarter. Finally, California State Teachers Retirement System increased its position in shares of FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after purchasing an additional 49,963 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Activity at FOX

In related news, COO John Nallen sold 216,806 shares of the stock in a transaction that occurred on Thursday, March 12th. The stock was sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the transaction, the chief operating officer directly owned 362,206 shares of the company’s stock, valued at $20,892,042.08. This represents a 37.44% decrease in their position. The sale was disclosed in a filing with the SEC, which is available through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the firm’s stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares in the company, valued at approximately $8,846.40. This represents a 99.98% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. Insiders sold 1,586,871 shares of company stock worth $91,893,926 in the last 90 days. 19.68% of the stock is owned by company insiders.

Analyst Ratings Changes

Several equities analysts have recently commented on FOXA shares. Barclays reduced their price target on shares of FOX from $64.00 to $63.00 and set an “equal weight” rating on the stock in a research report on Thursday, February 5th. Evercore upped their price objective on FOX from $66.00 to $70.00 and gave the company an “in-line” rating in a research note on Thursday, February 5th. Citigroup increased their target price on FOX from $77.00 to $78.00 and gave the stock a “buy” rating in a report on Thursday, February 5th. Guggenheim lifted their target price on FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $65.00 to $69.00 and gave the company a “neutral” rating in a report on Thursday, February 5th. Seven equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has assigned a Sell rating to the company’s stock. Based on data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $71.27.

FOX Stock Performance

FOXA stock opened at $59.11 on Friday. Fox Corporation has a 1 year low of $46.42 and a 1 year high of $76.39. The stock has a market capitalization of $25.15 billion, a price-to-earnings ratio of 14.21, a PEG ratio of 7.22 and a beta of 0.55. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.44 and a current ratio of 2.78. The stock’s fifty day moving average is $61.75 and its two-hundred day moving average is $64.28.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. The business had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. FOX had a net margin of 11.41% and a return on equity of 18.14%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter last year, the company earned $0.96 EPS. On average, research analysts predict that Fox Corporation will post 4.38 EPS for the current year.

FOX Announces Dividend

The company also recently announced a dividend, which was paid on Wednesday, March 25th. Shareholders of record on Wednesday, March 4th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a yield of 83.0%. FOX’s dividend payout ratio is 13.46%.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.