Retirement Systems of Alabama grew its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 1,727.2% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The firm owned 965,066 shares of the company's stock after buying an additional 912,250 shares during the period. Retirement Systems of Alabama owned 0.21% of FOX worth $33,169,000 as of its most recent SEC filing.
A number of other hedge funds and other institutional investors also recently made changes to their positions in FOXA. Mitsubishi UFJ Trust & Banking Corp raised its holdings in FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company's stock worth $15,523,000 after purchasing an additional 117,458 shares in the last quarter. Quest Partners LLC purchased a new position in shares of FOX in the 4th quarter valued at approximately $1,796,000. Jane Street Group LLC boosted its position in shares of FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company's stock valued at $4,362,000 after purchasing an additional 28,072 shares in the last quarter. Scout Investments Inc. grew its stake in FOX by 102.0% in the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company's stock worth $6,227,000 after purchasing an additional 105,960 shares during the period. Finally, Hsbc Holdings PLC raised its holdings in FOX by 99.9% in the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company's stock worth $19,339,000 after purchasing an additional 326,254 shares in the last quarter. Institutional investors own 52.52% of the company's stock.
Insiders Place Their Bets
In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company's stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm's stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.
FOX Stock Performance
NASDAQ:FOXA traded up $0.24 during mid-day trading on Friday, reaching $41.01. The company's stock had a trading volume of 1,590,201 shares, compared to its average volume of 3,015,632. The firm's fifty day moving average price is $36.80 and its two-hundred day moving average price is $33.27. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The stock has a market cap of $19.14 billion, a P/E ratio of 12.86, a PEG ratio of 1.51 and a beta of 0.77. Fox Co. has a 12-month low of $28.28 and a 12-month high of $41.16.
FOX (NASDAQ:FOXA - Get Free Report) last announced its 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. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period last year, the firm posted $0.88 earnings per share. The business's revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Fox Co. will post 3.33 EPS for the current fiscal year.
FOX Increases Dividend
The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This represents a dividend yield of 1.4%. This is an increase from FOX's previous Semi-Annual dividend of $0.26. FOX's dividend payout ratio (DPR) is 16.93%.
Analyst Ratings Changes
A number of analysts have recently commented on the stock. The Goldman Sachs Group boosted their target price on shares of FOX from $42.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Macquarie raised their target price on shares of FOX from $32.00 to $35.00 and gave the company a "neutral" rating in a research note on Monday, August 12th. Barclays boosted their price target on FOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, May 13th. Evercore ISI raised 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, JPMorgan Chase & Co. boosted 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. Nine analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company has an average rating of "Hold" and a consensus target price of $38.23.
Check Out Our Latest Stock Analysis on FOX
FOX Company Profile
(
Free Report)
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.
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