American Century Companies Inc. Grows Stock Position in Fox Co. (NASDAQ:FOXA)

American Century Companies Inc. increased its holdings in Fox Co. (NASDAQ:FOXA) by 11.2% during the 2nd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 323,954 shares of the company’s stock after buying an additional 32,684 shares during the period. American Century Companies Inc. owned about 0.07% of FOX worth $11,134,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also made changes to their positions in FOXA. Norges Bank purchased a new stake in shares of FOX in the 4th quarter worth about $68,391,000. KBC Group NV lifted its holdings in FOX by 453.0% in the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares in the last quarter. Vanguard Group Inc. boosted its stake 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 worth $934,354,000 after purchasing an additional 1,653,913 shares during the last quarter. TD Asset Management Inc grew its holdings in shares of FOX by 128.0% during the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after buying an additional 1,287,911 shares in the last quarter. Finally, Retirement Systems of Alabama raised its position in shares of FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after buying an additional 912,250 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

FOXA opened at $40.21 on Monday. The company has a 50 day moving average of $39.18 and a two-hundred day moving average of $34.81. Fox Co. has a 52-week low of $28.28 and a 52-week high of $41.58. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The company has a market cap of $18.77 billion, a P/E ratio of 12.61, a P/E/G ratio of 1.78 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results 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. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the company earned $0.88 EPS. The firm’s revenue was up 2.0% on a year-over-year basis. On average, analysts expect that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend 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

In other FOX news, 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 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 $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The transaction was disclosed in a filing with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’s stock in a transaction dated 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 purchase, 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. 21.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on the stock. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. The Goldman Sachs Group raised their price objective on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. JPMorgan Chase & Co. increased their target price on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price target on FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. 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, the company has an average rating of “Hold” and an average price target of $38.23.

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.