Mount Yale Investment Advisors LLC Sells 24,323 Shares of Fox Co. (NASDAQ:FOXA)

Mount Yale Investment Advisors LLC lessened its stake in shares of Fox Co. (NASDAQ:FOXA) by 13.1% during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 161,244 shares of the company’s stock after selling 24,323 shares during the quarter. Mount Yale Investment Advisors LLC’s holdings in FOX were worth $5,542,000 at the end of the most recent reporting period.

Other large investors also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp boosted its holdings in FOX by 31.1% in the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after acquiring an additional 117,458 shares in the last quarter. Jane Street Group LLC lifted its holdings in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,072 shares in the last quarter. Scout Investments Inc. grew its position in FOX by 102.0% in the 4th quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock valued at $6,227,000 after purchasing 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 valued at $19,339,000 after purchasing an additional 326,254 shares in the last quarter. Finally, UniSuper Management Pty Ltd raised its holdings in FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock worth $745,000 after buying an additional 20,250 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FOXA. JPMorgan Chase & Co. lifted their price objective on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Rosenblatt Securities boosted their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Evercore ISI upped their price target on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and increased their price target for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Ten equities research analysts have rated the stock with a hold rating and five have given a buy rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of “Hold” and an average price target of $38.23.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The transaction was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA opened at $40.21 on Friday. The firm 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 debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $41.58. The firm has a 50-day moving average of $39.18 and a 200 day moving average of $34.77.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same quarter last year, the business posted $0.88 EPS. FOX’s quarterly revenue was up 2.0% compared to the same quarter last year. On average, research analysts expect that Fox Co. will post 3.72 EPS for the current year.

FOX Increases Dividend

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

FOX 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.