Algert Global LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

Algert Global LLC bought a new stake in shares of Fox Co. (NASDAQ:FOXA) in the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor bought 10,530 shares of the company’s stock, valued at approximately $362,000.

A number of other institutional investors and hedge funds have also recently modified their holdings of FOXA. Vanguard Group Inc. lifted its position in FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after purchasing an additional 1,653,913 shares during the last quarter. Retirement Systems of Alabama lifted its holdings in shares of FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. grew its position in FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after acquiring an additional 663,089 shares in the last quarter. Teachers Retirement System of The State of Kentucky increased its stake in FOX by 2,396.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 673,723 shares of the company’s stock worth $19,989,000 after acquiring an additional 646,737 shares during the last quarter. Finally, Independent Franchise Partners LLP raised its position in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction on 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 transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the 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 sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

FOX Price Performance

Shares of FOXA stock opened at $41.58 on Wednesday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $42.63. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a fifty day simple moving average of $40.27 and a two-hundred day simple moving average of $35.77. The stock has a market capitalization of $19.41 billion, a price-to-earnings ratio of 13.03, a P/E/G ratio of 1.85 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping 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% compared to the same quarter last year. During the same period in the prior year, the firm earned $0.88 earnings per share. On average, analysts predict that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a dividend of $0.27 per share. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date was Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FOXA. Deutsche Bank Aktiengesellschaft lifted their target price on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Guggenheim upped their price target on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Finally, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company. According to MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $40.85.

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.