Raymond James Financial Inc. Invests $10.92 Million in Fox Co. (NASDAQ:FOXA)

Raymond James Financial Inc. acquired a new stake in Fox Co. (NASDAQ:FOXA) in the 4th quarter, HoldingsChannel reports. The fund acquired 224,742 shares of the company’s stock, valued at approximately $10,918,000.

Several other large investors have also recently added to or reduced their stakes in the business. JPMorgan Chase & Co. grew its stake in shares of FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after acquiring an additional 110,753 shares in the last quarter. Invst LLC acquired a new position in FOX during the 3rd quarter worth $740,000. Asset Management One Co. Ltd. increased its holdings in FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after purchasing an additional 23,704 shares during the period. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in FOX in the 3rd quarter valued at about $2,867,000. Finally, Park Avenue Securities LLC grew its position in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after buying an additional 3,787 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several brokerages recently weighed in on FOXA. Citigroup raised their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a “buy” rating in a report on Tuesday, February 4th. Loop Capital boosted their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Moffett Nathanson cut 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 research note on Tuesday, January 21st. Finally, Barclays upped their price objective on FOX from $39.00 to $50.00 and gave the stock an “equal weight” rating in a research report on Wednesday, February 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $51.19.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The stock was 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 directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, 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 transaction, 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 position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Price Performance

Shares of FOXA opened at $53.21 on Friday. 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 fifty-two week low of $29.89 and a fifty-two week high of $58.74. The firm has a 50-day simple moving average of $52.95 and a 200-day simple moving average of $47.41. The company has a market capitalization of $24.13 billion, a price-to-earnings ratio of 11.39, a price-to-earnings-growth ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 for the quarter, compared to the consensus estimate of $4.78 billion. During the same period last year, the business posted $0.34 EPS. The company’s revenue was up 19.9% on a year-over-year basis. On average, equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

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

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.