Kentucky Retirement Systems Decreases Stake in Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems cut its position in Fox Co. (NASDAQ:FOXA) by 4.1% during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 17,419 shares of the company’s stock after selling 754 shares during the period. Kentucky Retirement Systems’ holdings in FOX were worth $599,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Seven Eight Capital LP acquired a new stake in shares of FOX during the 2nd quarter worth about $2,907,000. Hsbc Holdings PLC increased its stake in FOX by 22.0% in the second quarter. Hsbc Holdings PLC now owns 568,342 shares of the company’s stock valued at $19,563,000 after purchasing an additional 102,601 shares during the last quarter. Vanguard Personalized Indexing Management LLC raised its holdings in FOX by 54.5% during the second quarter. Vanguard Personalized Indexing Management LLC now owns 39,573 shares of the company’s stock worth $1,350,000 after purchasing an additional 13,957 shares in the last quarter. Amalgamated Bank lifted its position in shares of FOX by 7.2% during the 2nd quarter. Amalgamated Bank now owns 72,028 shares of the company’s stock worth $2,476,000 after buying an additional 4,832 shares during the last quarter. Finally, Edgestream Partners L.P. boosted its holdings in shares of FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after buying an additional 157,927 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Down 0.7 %

Shares of FOX stock opened at $40.21 on Friday. Fox Co. has a one year low of $28.28 and a one year high of $41.58. The company has a market cap of $18.77 billion, a P/E ratio of 12.61, a PEG ratio of 1.78 and a beta of 0.76. 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 firm has a fifty day moving average of $39.18 and a two-hundred day moving average of $34.77.

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

FOX Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors 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 of this dividend is Wednesday, September 4th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is currently 16.93%.

Insiders Place Their Bets

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

Analyst Upgrades and Downgrades

Several equities research analysts recently commented on the stock. Evercore ISI lifted their price target on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie upped their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group increased their price objective on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and five have given a buy rating to the company’s stock. According to MarketBeat, the company presently has a consensus rating of “Hold” and a consensus target price of $38.23.

FOX 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.