Financial Counselors Inc. Sells 46,363 Shares of Fox Co. (NASDAQ:FOXA)

Financial Counselors Inc. cut its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 30.4% during the 2nd quarter, according to its most recent Form 13F filing with the SEC. The fund owned 106,389 shares of the company's stock after selling 46,363 shares during the period. Financial Counselors Inc.'s holdings in FOX were worth $3,657,000 as of its most recent SEC filing.

Other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV grew its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock valued at $25,000 after buying an additional 461 shares during the last quarter. UMB Bank n.a. raised its position 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 purchasing an additional 809 shares during the period. Global Retirement Partners LLC boosted its position in shares of FOX by 38.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company's stock valued at $41,000 after purchasing an additional 362 shares during the period. Altshuler Shaham Ltd purchased a new position in FOX in the 4th quarter worth about $43,000. Finally, Friedenthal Financial acquired a new stake in FOX during the 2nd quarter worth about $51,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

FOXA stock traded down $0.34 during trading hours on Tuesday, reaching $41.03. The stock had a trading volume of 3,675,577 shares, compared to its average volume of 2,985,193. The stock has a 50-day simple moving average of $37.67 and a 200 day simple moving average of $33.77. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $41.42. The stock has a market capitalization of $19.15 billion, a PE ratio of 12.97, a price-to-earnings-growth ratio of 1.86 and a beta of 0.77. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts' consensus estimates of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. During the same quarter in the prior year, the business earned $0.88 EPS. FOX's quarterly revenue was up 2.0% on a year-over-year basis. Analysts predict that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

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

Insider Buying and Selling

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company's stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at $42,044,457.42. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. In related news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, 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 SEC, which is available through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The shares were purchased at an average cost of $39.06 per share, with a total value 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 disclosure for this purchase can be found here. 21.77% of the stock is owned by insiders.

Analysts Set New Price Targets

Several equities analysts have weighed in on FOXA shares. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $39.00 to $42.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. lifted their target price on shares of FOX from $36.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Evercore ISI upped their price objective on shares of FOX from $33.00 to $38.00 and gave the company an "in-line" rating in a research report on Wednesday, August 7th. Rosenblatt Securities raised their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an "underweight" rating to an "overweight" rating and lifted their price objective for the company from $29.00 to $46.00 in a report on Friday, August 16th. Nine research analysts have rated the stock with a hold rating and six have issued a buy rating to the company's stock. Based on data from MarketBeat.com, the stock 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.