nVerses Capital LLC Boosts Holdings in Fox Co. (NASDAQ:FOXA)

nVerses Capital LLC grew its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 1,541.7% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 19,700 shares of the company's stock after buying an additional 18,500 shares during the quarter. nVerses Capital LLC's holdings in FOX were worth $677,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV grew its stake in shares of FOX by 176.6% in 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 last quarter. UMB Bank n.a. grew its stake in shares of FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company's stock worth $35,000 after purchasing an additional 809 shares during the last quarter. Global Retirement Partners LLC grew its stake 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 worth $41,000 after purchasing an additional 362 shares during the last quarter. Altshuler Shaham Ltd bought a new stake in shares of FOX in the fourth quarter worth about $43,000. Finally, Friedenthal Financial bought a new stake in shares of FOX in the second quarter worth about $51,000. 52.52% of the stock is owned by institutional investors.

FOX Stock Up 0.7 %

Shares of FOXA stock traded up $0.30 during trading hours on Friday, hitting $41.37. 2,377,445 shares of the company's stock traded hands, compared to its average volume of 2,981,083. The stock's fifty day simple moving average is $37.53 and its two-hundred day simple moving average is $33.65. Fox Co. has a 12-month low of $28.28 and a 12-month high of $41.42. The stock has a market cap of $19.31 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.51 and a beta of 0.77. 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 (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts' consensus estimates of $0.83 by $0.07. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the business earned $0.88 EPS. The firm's revenue for the quarter was up 2.0% on a year-over-year basis. On average, analysts expect that Fox Co. will post 3.33 EPS for the current year.

FOX Increases Dividend

The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.27 dividend. This represents a yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 4th. This is an increase from FOX's previous Semi-Annual dividend of $0.26. FOX's payout ratio is 16.93%.

Wall Street Analyst Weigh In

Several analysts recently issued reports on the company. Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the stock a "neutral" rating in a research note on Wednesday, August 7th. Macquarie raised their target price on FOX from $32.00 to $35.00 and gave the stock a "neutral" rating in a research note on Monday, August 12th. Evercore ISI raised their price objective on shares of FOX from $33.00 to $38.00 and gave the stock an "in-line" rating in a report on Wednesday, August 7th. Bank of America upgraded shares of FOX from a "neutral" rating to a "buy" rating and raised their price objective for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Finally, Wells Fargo & Company upgraded shares of FOX from an "underweight" rating to an "overweight" rating and raised their price objective for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Nine analysts have rated the stock with a hold rating and six have given a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $38.23.

Insider Activity

In related news, CFO Steven Tomsic sold 30,000 shares of the company's stock in a transaction on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares of the company's stock, valued at approximately $3,788,059.68. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In other FOX news, CFO Steven Tomsic sold 30,000 shares of the business's stock in a transaction on Friday, June 7th. The shares were 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 owns 110,568 shares in the company, 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. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. Insiders own 21.77% of the company's stock.

About FOX

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.