iA Global Asset Management Inc. Has $2.33 Million Stake in Fox Co. (NASDAQ:FOXA)

iA Global Asset Management Inc. grew its position in shares of Fox Co. (NASDAQ:FOXA) by 184.0% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 47,997 shares of the company’s stock after buying an additional 31,098 shares during the quarter. iA Global Asset Management Inc.’s holdings in FOX were worth $2,332,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also made changes to their positions in FOXA. SRS Capital Advisors Inc. lifted its holdings in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 4th quarter valued at about $28,000. Jones Financial Companies Lllp lifted its holdings in shares of FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the last quarter. Brooklyn Investment Group lifted its holdings in FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares during the last quarter. Finally, Quest Partners LLC acquired a new stake in FOX in the 3rd quarter worth approximately $51,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

FOXA opened at $53.40 on Friday. The stock has a market cap of $24.21 billion, a PE ratio of 11.43, a P/E/G ratio of 1.27 and a beta of 0.67. 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 Co. has a 1 year low of $29.89 and a 1 year high of $58.74. The stock’s 50 day simple moving average is $53.06 and its 200-day simple moving average is $47.49.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates 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 for the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the business posted $0.34 earnings per share. The business’s revenue was up 19.9% compared to the same quarter last year. Sell-side analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

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

Analyst Upgrades and Downgrades

Several equities research analysts recently weighed in on the company. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and boosted their target price for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. Wells Fargo & Company boosted their target price on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Guggenheim boosted their target price on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a report on Wednesday, February 5th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a “buy” rating in a report on Tuesday, February 4th. Finally, Bank of America boosted their target price on FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.19.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

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.