Fox Co. (NASDAQ:FOXA) Shares Sold by Louisiana State Employees Retirement System

Louisiana State Employees Retirement System trimmed its holdings in Fox Co. (NASDAQ:FOXA) by 5.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 13,100 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FOX were worth $450,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Van ECK Associates Corp raised its stake in shares of FOX by 17.6% during the fourth quarter. Van ECK Associates Corp now owns 97,107 shares of the company’s stock worth $2,881,000 after purchasing an additional 14,513 shares during the last quarter. Victory Capital Management Inc. increased its position in shares of FOX by 30.9% in the fourth quarter. Victory Capital Management Inc. now owns 717,625 shares of the company’s stock valued at $21,292,000 after buying an additional 169,454 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of FOX by 3.1% in the fourth quarter. Natixis Advisors L.P. now owns 258,142 shares of the company’s stock valued at $7,659,000 after buying an additional 7,847 shares in the last quarter. Todd Asset Management LLC purchased a new position in shares of FOX in the fourth quarter valued at $19,370,000. Finally, Charles Schwab Investment Management Inc. increased its position in shares of FOX by 1.8% in the fourth quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock valued at $68,996,000 after buying an additional 42,143 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Trading Up 0.7 %

NASDAQ:FOXA opened at $41.37 on Friday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $41.42. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.51 and a beta of 0.77. The business has a fifty day moving average of $37.53 and a 200-day moving average of $33.65. The company has a debt-to-equity ratio of 0.67, a quick ratio of 2.94 and a current ratio of 3.24.

FOX (NASDAQ:FOXA) last released 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. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Equities analysts predict that Fox Co. will post 3.33 earnings per share for the current year.

FOX Increases Dividend

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

Analysts Set New Price Targets

A number of analysts recently commented on the company. Macquarie increased their price objective on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and boosted their target price for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft boosted 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. Evercore ISI boosted their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $38.23.

Insider Activity

In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other FOX news, COO John Nallen sold 52,874 shares of the company’s 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 transaction, the chief operating officer now directly 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 accessible through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the transaction, the chief financial officer now directly owns 110,568 shares in the company, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.