Mercer Global Advisors Inc. ADV Cuts Stock Holdings in Fox Co. (NASDAQ:FOXA)

Mercer Global Advisors Inc. ADV reduced its stake in Fox Co. (NASDAQ:FOXA) by 6.4% during the second quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 124,800 shares of the company’s stock after selling 8,560 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in FOX were worth $4,361,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. Edgestream Partners L.P. lifted its position in shares of FOX by 343.1% in the second quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock worth $7,010,000 after buying an additional 157,927 shares in the last quarter. Quantbot Technologies LP increased its stake in FOX by 542.4% in the 2nd quarter. Quantbot Technologies LP now owns 197,781 shares of the company’s stock worth $6,798,000 after acquiring an additional 166,994 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in shares of FOX by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after acquiring an additional 268,778 shares in the last quarter. WINTON GROUP Ltd bought a new position in shares of FOX during the 2nd quarter valued at approximately $3,957,000. Finally, Thompson Siegel & Walmsley LLC grew its holdings in shares of FOX by 2.8% in the second quarter. Thompson Siegel & Walmsley LLC now owns 1,579,272 shares of the company’s stock valued at $54,280,000 after purchasing an additional 42,424 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

FOXA stock opened at $40.21 on Friday. The firm has a market cap of $18.77 billion, a price-to-earnings ratio of 12.61, a PEG ratio of 1.78 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $41.58. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The business’s fifty day simple moving average is $39.18 and its two-hundred day simple moving average is $34.77.

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

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is 16.93%.

Insiders Place Their Bets

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently issued reports on FOXA shares. Evercore ISI upped their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price target on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price objective on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Rosenblatt Securities raised their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Ten research analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $38.23.

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.