State of New Jersey Common Pension Fund D Has $1.89 Million Position in Fox Co. (NASDAQ:FOXA)

State of New Jersey Common Pension Fund D reduced its position in shares of Fox Co. (NASDAQ:FOXA) by 41.5% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 55,009 shares of the company’s stock after selling 39,089 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FOX were worth $1,891,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in FOX by 31.1% during the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after purchasing an additional 117,458 shares during the last quarter. Jane Street Group LLC increased its stake in FOX by 25.2% during the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after acquiring an additional 28,072 shares during the period. Scout Investments Inc. increased its stake in FOX by 102.0% during the 4th quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock worth $6,227,000 after acquiring an additional 105,960 shares during the period. Hsbc Holdings PLC increased its stake in FOX by 99.9% during the 4th quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after acquiring an additional 326,254 shares during the period. Finally, UniSuper Management Pty Ltd increased its stake in FOX by 565.6% during the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after acquiring an additional 20,250 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

Several equities analysts have recently issued reports on FOXA shares. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $29.00 to $46.00 in a research note on Friday, August 16th. JPMorgan Chase & Co. lifted their price target on FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price target on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Macquarie lifted their price target on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Finally, Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. According to MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus price target of $38.23.

FOX Stock Down 0.7 %

FOXA opened at $40.21 on Monday. The stock has a market cap of $18.77 billion, a PE ratio of 12.61, a P/E/G ratio of 1.78 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. Fox Co. has a 52 week low of $28.28 and a 52 week high of $41.58. The business’s fifty day simple moving average is $39.18 and its 200 day simple moving average is $34.81.

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

FOX Increases Dividend

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

Insider Transactions at FOX

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

About FOX

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.