PFA Pension Forsikringsaktieselskab Makes New $67.47 Million Investment in Fox Corporation $FOXA

PFA Pension Forsikringsaktieselskab bought a new position in shares of Fox Corporation (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 915,433 shares of the company’s stock, valued at approximately $67,467,000.

A number of other hedge funds and other institutional investors have also recently made changes to their positions in FOXA. FWL Investment Management LLC purchased a new position in shares of FOX during the 3rd quarter worth approximately $26,000. CYBER HORNET ETFs LLC purchased a new position in shares of FOX during the 2nd quarter worth approximately $35,000. Rosenberg Matthew Hamilton grew its holdings in shares of FOX by 58.5% during the 4th quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company’s stock worth $51,000 after acquiring an additional 257 shares during the period. Quantbot Technologies LP purchased a new position in shares of FOX during the 3rd quarter worth approximately $51,000. Finally, Private Trust Co. NA grew its holdings in shares of FOX by 35.6% during the 4th quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after acquiring an additional 187 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

FOXA has been the topic of a number of research analyst reports. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Thursday, February 5th. Argus raised FOX to a “hold” rating in a research report on Thursday, February 19th. Evercore boosted their price target on FOX from $66.00 to $70.00 and gave the stock an “in-line” rating in a research report on Thursday, February 5th. Bank of America cut FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target on the stock. in a research report on Wednesday, February 25th. Finally, The Goldman Sachs Group reissued a “buy” rating and issued a $80.00 price target on shares of FOX in a research report on Wednesday, February 4th. Seven equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $72.93.

Insider Buying and Selling

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

FOX Stock Performance

Shares of FOXA opened at $63.35 on Friday. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The business’s 50 day moving average price is $59.78 and its 200-day moving average price is $64.64. Fox Corporation has a 52 week low of $47.66 and a 52 week high of $76.39. The stock has a market cap of $26.95 billion, a P/E ratio of 15.23, a P/E/G ratio of 7.80 and a beta of 0.52.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 EPS for the quarter, topping analysts’ consensus estimates of $0.47 by $0.35. FOX had a return on equity of 18.14% and a net margin of 11.41%.The firm had revenue of $5.18 billion for the quarter, compared to analysts’ expectations of $5.02 billion. During the same period in the previous year, the firm posted $0.96 EPS. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. Equities research analysts anticipate that Fox Corporation will post 4.6 earnings per share for the current fiscal year.

FOX Announces Dividend

The business 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. This represents a yield of 83.0%. The ex-dividend date of this dividend was Wednesday, March 4th. FOX’s payout ratio is 13.46%.

FOX Company Profile

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.