Fox Co. (NASDAQ:FOXA) Shares Bought by Profund Advisors LLC

Profund Advisors LLC grew its position in shares of Fox Co. (NASDAQ:FOXA) by 14.0% during the 2nd quarter, according to the company in its most recent filing with the SEC. The firm owned 7,520 shares of the company’s stock after purchasing an additional 924 shares during the quarter. Profund Advisors LLC’s holdings in FOX were worth $258,000 as of its most recent filing with the SEC.

Several other hedge funds also recently modified their holdings of FOXA. KBC Group NV increased its position in shares of FOX by 453.0% during 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 during the period. Vanguard Group Inc. grew its holdings in shares of FOX by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after acquiring an additional 1,653,913 shares during the last quarter. Retirement Systems of Alabama grew its holdings in shares of FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after acquiring an additional 912,250 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its holdings in shares of FOX by 2,396.6% in the 4th quarter. Teachers Retirement System of The State of Kentucky now owns 673,723 shares of the company’s stock worth $19,989,000 after acquiring an additional 646,737 shares during the last quarter. Finally, LSV Asset Management grew its holdings in shares of FOX by 5.9% in the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after acquiring an additional 481,267 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the business’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 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 legal filing with the Securities & Exchange Commission, which is available through this link. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was 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 of the company’s stock, valued at $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 52,874 shares of the business’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 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 disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA opened at $42.27 on Friday. The stock has a market cap of $19.73 billion, a price-to-earnings ratio of 13.25, a PEG ratio of 1.85 and a beta of 0.76. Fox Co. has a 1 year low of $28.28 and a 1 year high of $42.63. 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 fifty day moving average price of $39.70 and a 200 day moving average price of $35.18.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Analysts forecast that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a dividend yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is currently 16.93%.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FOXA shares. Evercore ISI lifted 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. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Bank of America lifted their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday. Macquarie lifted their target price on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Finally, Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $29.00 to $46.00 in a report on Friday, August 16th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $39.64.

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.