Neo Ivy Capital Management Acquires Shares of 23,228 Fox Co. (NASDAQ:FOXA)

Neo Ivy Capital Management purchased a new stake in Fox Co. (NASDAQ:FOXA - Free Report) during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 23,228 shares of the company's stock, valued at approximately $798,000.

Several other hedge funds have also recently bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV increased its stake in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after purchasing an additional 461 shares during the period. UMB Bank n.a. lifted its holdings in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company's stock worth $35,000 after buying an additional 809 shares in the last quarter. Global Retirement Partners LLC boosted its position in shares of FOX by 38.4% in the first quarter. Global Retirement Partners LLC now owns 1,305 shares of the company's stock valued at $41,000 after acquiring an additional 362 shares during the period. Altshuler Shaham Ltd acquired a new position in shares of FOX in the fourth quarter valued at about $43,000. Finally, Friedenthal Financial bought a new position in FOX during the second quarter worth about $51,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

Shares of NASDAQ:FOXA traded up $0.37 during trading on Tuesday, hitting $40.07. 2,322,770 shares of the company were exchanged, compared to its average volume of 3,036,772. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. Fox Co. has a 1-year low of $28.28 and a 1-year high of $40.12. The company has a market capitalization of $18.70 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. The business's 50 day moving average is $36.22 and its 200-day moving average is $33.03.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business's quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. Equities analysts forecast that Fox Co. will post 3.33 earnings per share for the current year.

FOX Increases Dividend

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

Analyst Upgrades and Downgrades

A number of research firms have issued reports on FOXA. Macquarie boosted their price objective on shares of FOX from $32.00 to $35.00 and gave the company a "neutral" rating in a report on Monday, August 12th. Deutsche Bank Aktiengesellschaft increased their price target on FOX from $39.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Barclays lifted their price objective on FOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a report on Monday, May 13th. JPMorgan Chase & Co. increased their target price on FOX from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, Rosenblatt Securities boosted their price target on FOX from $37.00 to $38.00 and gave the company a "neutral" rating in a research note 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. According to data from MarketBeat.com, FOX currently has a consensus rating of "Hold" and an average price target of $38.23.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 30,000 shares of the firm's stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company's stock, valued at approximately $3,788,059.68. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. In other 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 transaction, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $9,717,559.04. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the firm's stock in a transaction that occurred 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 sale, the chief financial officer now directly owns 110,568 shares of the company's stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

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.