Forsta AP Fonden Sells 75,000 Shares of Fox Co. (NASDAQ:FOXA)

Forsta AP Fonden lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 42.2% during the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 102,900 shares of the company’s stock after selling 75,000 shares during the quarter. Forsta AP Fonden’s holdings in FOX were worth $3,537,000 as of its most recent SEC filing.

Other hedge funds have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its holdings in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares during the period. UMB Bank n.a. lifted its holdings in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after acquiring an additional 809 shares during the period. Friedenthal Financial purchased a new position in FOX in the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX during the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in shares of FOX during the 1st quarter valued at about $66,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several brokerages recently issued reports on FOXA. JPMorgan Chase & Co. boosted their target price on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Rosenblatt Securities upped their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their target price on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Macquarie upped their price target on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average price target of $38.23.

Insiders Place Their Bets

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA stock opened at $39.66 on Monday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The company’s fifty day moving average price is $38.68 and its 200-day moving average price is $34.42. Fox Co. has a one year low of $28.28 and a one year high of $41.58. The company has a market capitalization of $18.25 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company earned $0.88 EPS. The business’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, equities analysts anticipate that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This represents a yield of 1.4%. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio (DPR) is currently 16.93%.

FOX Company Profile

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.