BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp Grows Holdings in Fox Co. (NASDAQ:FOXA)

BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp boosted its stake in shares of Fox Co. (NASDAQ:FOXA) by 54.5% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 45,841 shares of the company’s stock after buying an additional 16,174 shares during the period. BRITISH COLUMBIA INVESTMENT MANAGEMENT Corp’s holdings in FOX were worth $1,576,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently modified their holdings of the stock. Vanguard Group Inc. raised its position in 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 buying an additional 1,653,913 shares during the last quarter. Independent Franchise Partners LLP increased its stake in shares of FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares in the last quarter. LSV Asset Management boosted its holdings in 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 buying an additional 481,267 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after acquiring an additional 268,778 shares during the period. Finally, KBC Group NV boosted its stake in FOX by 453.0% in the 4th quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock worth $60,225,000 after purchasing an additional 1,662,748 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of analysts have issued reports on FOXA shares. The Goldman Sachs Group lifted their price target on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and lifted their target price for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Macquarie upped their price target on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Evercore ISI upped their price objective 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, Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $39.64.

Insiders Place Their Bets

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction that occurred on 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 acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated 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 in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

FOX Stock Performance

Shares of FOXA stock opened at $42.27 on Monday. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. Fox Co. has a 1 year low of $28.28 and a 1 year high of $42.63. The firm has a market capitalization of $19.73 billion, a price-to-earnings ratio of 13.25, a price-to-earnings-growth ratio of 1.85 and a beta of 0.76. The business has a fifty day moving average of $39.70 and a 200 day moving average of $35.26.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $3.09 billion for 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 company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm earned $0.88 EPS. As a group, research 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 was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given 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 was Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is 16.93%.

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.