Bank of New York Mellon Corp Sells 23,524 Shares of Fox Co. (NASDAQ:FOXA)

Bank of New York Mellon Corp decreased its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 1.2% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 1,959,897 shares of the company's stock after selling 23,524 shares during the period. Bank of New York Mellon Corp owned about 0.42% of FOX worth $67,362,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently bought and sold shares of the company. Raymond James Trust N.A. boosted its holdings in FOX by 4.4% in the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock valued at $333,000 after purchasing an additional 406 shares during the period. Retirement Systems of Alabama grew its position in shares of FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company's stock worth $33,169,000 after buying an additional 912,250 shares in the last quarter. Lecap Asset Management Ltd. acquired a new stake in FOX in the second quarter valued at approximately $1,241,000. Fifth Third Bancorp lifted its stake in FOX by 108.4% in the second quarter. Fifth Third Bancorp now owns 12,488 shares of the company's stock worth $429,000 after acquiring an additional 6,495 shares during the last quarter. Finally, Neo Ivy Capital Management acquired a new position in FOX during the 2nd quarter worth approximately $798,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the business's stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the business's stock in a transaction on Thursday, August 15th. The shares were bought at an average cost 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 approximately $42,044,457.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the company'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. Corporate insiders own 21.77% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research analyst reports. Macquarie raised their target price on FOX from $32.00 to $35.00 and gave the stock a "neutral" rating in a research report on Monday, August 12th. Barclays boosted their price objective on shares of FOX from $33.00 to $36.00 and gave the stock an "equal weight" rating in a research report on Monday, May 13th. Wells Fargo & Company raised shares of FOX from an "underweight" rating to an "overweight" rating and increased their target price for the company from $29.00 to $46.00 in a research report on Friday, August 16th. The Goldman Sachs Group boosted their target price on FOX from $42.00 to $44.00 and gave the company a "buy" rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on FOX from $39.00 to $42.00 and gave the stock a "buy" rating in a research note on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $38.23.

FOX Price Performance

FOXA traded up $0.30 during midday trading on Friday, reaching $41.37. 2,377,445 shares of the company's stock were exchanged, compared to its average volume of 2,981,083. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The business's 50-day moving average price is $37.39 and its 200 day moving average price is $33.57. Fox Co. has a 1-year low of $28.28 and a 1-year high of $41.42. The stock has a market capitalization of $19.31 billion, a PE ratio of 12.97, a P/E/G ratio of 1.51 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion for 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 revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the business earned $0.88 earnings per share. As a group, equities analysts anticipate 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 issued a dividend of $0.27 per share. This is a positive change from FOX's previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date is Wednesday, September 4th. FOX's dividend payout ratio is presently 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.