Hsbc Holdings PLC Increases Stock Position in Fox Co. (NASDAQ:FOXA)

Hsbc Holdings PLC raised its position in Fox Co. (NASDAQ:FOXA) by 22.0% in the second quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 568,342 shares of the company’s stock after buying an additional 102,601 shares during the period. Hsbc Holdings PLC owned about 0.12% of FOX worth $19,563,000 at the end of the most recent quarter.

Other large investors have also modified their holdings of the company. Vanguard Personalized Indexing Management LLC raised its holdings in FOX by 54.5% in the 2nd quarter. Vanguard Personalized Indexing Management LLC now owns 39,573 shares of the company’s stock worth $1,350,000 after purchasing an additional 13,957 shares during the period. Amalgamated Bank increased its position in shares of FOX by 7.2% in the second quarter. Amalgamated Bank now owns 72,028 shares of the company’s stock valued at $2,476,000 after buying an additional 4,832 shares in the last quarter. Edgestream Partners L.P. raised its stake in shares of FOX by 343.1% during the 2nd 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 during the period. Quantbot Technologies LP lifted its position in shares of FOX by 542.4% during the 2nd quarter. Quantbot Technologies LP now owns 197,781 shares of the company’s stock valued at $6,798,000 after buying an additional 166,994 shares in the last quarter. Finally, Dimensional Fund Advisors LP grew its stake in FOX by 7.7% in 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 period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Price Performance

FOX stock opened at $40.21 on Friday. 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 market cap of $18.77 billion, a P/E ratio of 12.61, a PEG ratio of 1.78 and a beta of 0.76. The company has a 50-day moving average price of $39.18 and a 200 day moving average price of $34.77. Fox Co. has a 12-month low of $28.28 and a 12-month high of $41.58.

FOX (NASDAQ:FOXA) last released 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 net margin of 10.74% and a return on equity of 15.57%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. Sell-side analysts anticipate that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared 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. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio is currently 16.93%.

Wall Street Analyst Weigh In

A number of equities analysts have weighed in on FOXA shares. Rosenblatt Securities upped their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Wells Fargo & Company upgraded 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 note on Friday, August 16th. Evercore ISI raised their target price on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted 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. Ten analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Hold” and an average target price of $38.23.

Insider Buying and Selling

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