Envestnet Portfolio Solutions Inc. Makes New Investment in Fox Co. (NASDAQ:FOXA)

Envestnet Portfolio Solutions Inc. bought a new stake in Fox Co. (NASDAQ:FOXA) in the 4th quarter, Holdings Channel.com reports. The firm bought 4,243 shares of the company’s stock, valued at approximately $206,000.

Several other institutional investors and hedge funds have also made changes to their positions in FOXA. SRS Capital Advisors Inc. increased its position in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the period. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the 4th quarter valued at $28,000. Jones Financial Companies Lllp boosted its stake in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares during the period. Brooklyn Investment Group grew its position in FOX by 142.5% during 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 position in FOX in the third quarter valued at $51,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several equities research analysts have recently weighed in on FOXA shares. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and increased their target price for the stock from $51.00 to $52.00 in a research note on Tuesday, January 21st. Wells Fargo & Company decreased their price objective on FOX from $64.00 to $63.00 and set an “overweight” rating for the company in a research report on Wednesday. Barclays boosted their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and set a $60.00 price target on shares of FOX in a report on Tuesday. Finally, StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average price target of $51.13.

FOX Stock Down 0.3 %

FOXA opened at $54.73 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. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.27 and a beta of 0.67. Fox Co. has a one year low of $30.02 and a one year high of $58.74. The business’s fifty day moving average is $53.69 and its two-hundred day moving average is $47.98.

FOX (NASDAQ:FOXA) last released its quarterly earnings data 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 net margin of 14.39% and a return on equity of 18.50%. The business had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the firm earned $0.34 EPS. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. Analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company’s stock.

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.