Amalgamated Bank Trims Stake in Fox Co. (NASDAQ:FOXA)

Amalgamated Bank reduced its position in Fox Co. (NASDAQ:FOXAFree Report) by 12.0% during the third quarter, Holdings Channel reports. The institutional investor owned 69,390 shares of the company’s stock after selling 9,440 shares during the quarter. Amalgamated Bank’s holdings in FOX were worth $2,165,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. MV Capital Management Inc. boosted its holdings in shares of FOX by 1,402.9% in the 2nd quarter. MV Capital Management Inc. now owns 1,037 shares of the company’s stock valued at $35,000 after buying an additional 968 shares in the last quarter. Covestor Ltd raised its position in shares of FOX by 68.8% in the 2nd quarter. Covestor Ltd now owns 1,219 shares of the company’s stock valued at $41,000 after purchasing an additional 497 shares during the last quarter. Belpointe Asset Management LLC raised its position in shares of FOX by 35.6% in the 1st quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after purchasing an additional 377 shares during the last quarter. Penserra Capital Management LLC purchased a new position in shares of FOX in the 2nd quarter valued at approximately $58,000. Finally, ING Groep NV purchased a new position in shares of FOX in the 3rd quarter valued at approximately $58,000. 55.93% of the stock is currently owned by institutional investors.

FOX Trading Up 2.3 %

FOXA stock opened at $30.44 on Tuesday. Fox Co. has a 52-week low of $28.51 and a 52-week high of $37.26. The company has a quick ratio of 2.01, a current ratio of 2.29 and a debt-to-equity ratio of 0.70. The firm has a market cap of $14.70 billion, a P/E ratio of 18.01, a PEG ratio of 0.40 and a beta of 0.81. The company’s 50-day simple moving average is $30.46 and its 200-day simple moving average is $31.13.

FOX (NASDAQ:FOXAGet Free Report) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.10 by $0.24. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. FOX had a return on equity of 15.81% and a net margin of 5.75%. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.48 earnings per share. As a group, equities analysts forecast that Fox Co. will post 3.17 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th will be given a dividend of $0.26 per share. This represents a yield of 1.8%. The ex-dividend date is Tuesday, March 5th. FOX’s dividend payout ratio is presently 30.77%.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 194,691 shares of the business’s stock in a transaction dated Wednesday, November 29th. The shares were sold at an average price of $29.57, for a total transaction of $5,757,012.87. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this link. Insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently commented on the stock. TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Morgan Stanley decreased their price objective on shares of FOX from $39.00 to $35.00 and set an “equal weight” rating for the company in a research report on Wednesday, November 1st. Macquarie increased their price objective on shares of FOX from $29.00 to $30.00 and gave the company a “neutral” rating in a research report on Thursday, February 8th. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Thursday, January 4th. Finally, Wells Fargo & Company reduced their price target on shares of FOX from $30.00 to $28.00 and set an “underweight” rating for the company in a research report on Thursday, February 8th. One investment analyst has rated the stock with a sell rating and thirteen have issued a hold rating to the company. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average price target of $33.73.

View Our Latest Stock Analysis on FOXA

FOX Company Profile

(Free Report)

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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