Fox Co. (NASDAQ:FOXA) Shares Acquired by Acadian Asset Management LLC

Acadian Asset Management LLC grew its holdings in Fox Co. (NASDAQ:FOXA) by 580.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 6,236 shares of the company’s stock after purchasing an additional 5,319 shares during the quarter. Acadian Asset Management LLC’s holdings in FOX were worth $213,000 at the end of the most recent reporting period.

Other institutional investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV boosted its position in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares during the period. UMB Bank n.a. boosted its holdings in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after purchasing an additional 809 shares during the period. Friedenthal Financial acquired a new position in FOX during the 2nd quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX during the 2nd quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in FOX in the 1st quarter valued at about $66,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts have recently commented on FOXA shares. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and boosted their price objective for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Deutsche Bank Aktiengesellschaft increased their price objective on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie increased their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, The Goldman Sachs Group lifted their price target on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and five have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $38.23.

FOX Stock Down 0.7 %

Shares of NASDAQ FOXA opened at $40.21 on Friday. The business has a 50-day moving average price of $39.18 and a 200 day moving average price of $34.73. The stock has a market cap of $18.77 billion, a PE ratio of 12.61, a price-to-earnings-growth 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.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. Equities research 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. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Buying and Selling at FOX

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 transaction of $2,059,971.04. Following the completion of the sale, 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 Securities & Exchange Commission, which is available through this link. In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, 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.