New York State Teachers Retirement System Reduces Holdings in Fox Co. (NASDAQ:FOXA)

New York State Teachers Retirement System lessened its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 8.3% in the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 198,500 shares of the company's stock after selling 17,897 shares during the period. New York State Teachers Retirement System's holdings in FOX were worth $6,822,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors have also recently made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV raised its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after acquiring an additional 461 shares during the last quarter. UMB Bank n.a. raised its stake in FOX by 254.4% in the 1st quarter. UMB Bank n.a. now owns 1,127 shares of the company's stock worth $35,000 after acquiring an additional 809 shares during the last quarter. Global Retirement Partners LLC raised its stake in FOX by 38.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company's stock worth $41,000 after acquiring an additional 362 shares during the last quarter. Altshuler Shaham Ltd purchased a new position in FOX in the 4th quarter worth $43,000. Finally, Friedenthal Financial purchased a new position in FOX in the 2nd quarter worth $51,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Price Performance

Shares of NASDAQ:FOXA traded up $0.07 during trading on Monday, reaching $41.08. 1,902,319 shares of the company's stock traded hands, compared to its average volume of 3,008,845. 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 fifty-two week low of $28.28 and a fifty-two week high of $41.40. The firm has a market cap of $19.17 billion, a PE ratio of 12.88, a P/E/G ratio of 1.51 and a beta of 0.77. The company has a 50-day simple moving average of $36.95 and a 200-day simple moving average of $33.38.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data 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 company had revenue of $3.09 billion for the quarter, compared to analysts' expectations of $3.10 billion. During the same period in the previous year, the firm posted $0.88 EPS. FOX's revenue was up 2.0% compared to the same quarter last year. As a group, 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. Investors of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a yield of 1.4%. This is a boost from FOX's previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX's payout ratio is presently 16.93%.

Insider Buying and Selling

In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the firm's stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available at this link. 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 transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares in the company, valued at $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

Wall Street Analysts Forecast Growth

FOXA has been the subject of a number of research analyst reports. Barclays raised their target price on FOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research note on Monday, May 13th. The Goldman Sachs Group lifted their price objective on FOX from $42.00 to $44.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Bank of America upgraded FOX from a "neutral" rating to a "buy" rating and lifted their price objective for the company from $34.00 to $40.00 in a research note on Thursday, May 9th. JPMorgan Chase & Co. lifted their price objective on FOX from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft lifted their price objective on FOX from $39.00 to $42.00 and gave the company a "buy" rating in a research note on Wednesday, August 7th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has an average rating of "Hold" and a consensus target price of $38.23.

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.