MBB Public Markets I LLC Acquires 4,806 Shares of Fox Co. (NASDAQ:FOXA)

MBB Public Markets I LLC boosted its holdings in Fox Co. (NASDAQ:FOXA) by 49.9% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 14,429 shares of the company’s stock after purchasing an additional 4,806 shares during the quarter. MBB Public Markets I LLC’s holdings in FOX were worth $496,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Vanguard Group Inc. boosted its position in shares of FOX by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after acquiring an additional 1,653,913 shares during the last quarter. Independent Franchise Partners LLP boosted its position in shares of FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after acquiring an additional 597,450 shares during the last quarter. LSV Asset Management boosted its position in shares of FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock valued at $294,816,000 after acquiring an additional 481,267 shares during the last quarter. Dimensional Fund Advisors LP boosted its position 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 valued at $129,180,000 after acquiring an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its position in shares of FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after acquiring an additional 492,467 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

A number of analysts recently issued reports on the company. The Goldman Sachs Group raised their price target on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Cfra restated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Deutsche Bank Aktiengesellschaft raised their price target on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Finally, Rosenblatt Securities raised 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and an average target price of $39.64.

FOX Stock Performance

Shares of FOX stock opened at $42.32 on Wednesday. The firm has a market cap of $19.75 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.85 and a beta of 0.76. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. Fox Co. has a 12 month low of $28.28 and a 12 month high of $42.63. The stock’s fifty day moving average price is $39.91 and its 200-day moving average price is $35.44.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm posted $0.88 earnings per share. On average, equities 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 declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a dividend yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Activity

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. In other FOX news, COO John Nallen sold 52,874 shares of the business’s 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction 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 approximately $42,044,457.42. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

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.