Foundry Partners LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

Foundry Partners LLC acquired a new position in shares of Fox Co. (NASDAQ:FOXA - Free Report) during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 344,025 shares of the company's stock, valued at approximately $11,824,000. Foundry Partners LLC owned 0.07% of FOX at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV increased its holdings in shares of FOX by 176.6% during 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 period. UMB Bank n.a. increased its stake in FOX by 254.4% during 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 period. Global Retirement Partners LLC raised its holdings in 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 acquiring an additional 362 shares in the last quarter. Friedenthal Financial bought a new stake in shares of FOX during the 2nd quarter valued at $51,000. Finally, Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the 2nd quarter worth $52,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the firm's stock in a transaction on 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was purchased 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 directly 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 accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction on 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The disclosure for this sale can be found here. Corporate insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

Several equities research analysts recently weighed in on FOXA shares. Deutsche Bank Aktiengesellschaft upped 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. Rosenblatt Securities upped their price target on shares of FOX from $37.00 to $38.00 and gave the stock a "neutral" rating in a report on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on FOX from $42.00 to $44.00 and gave the stock a "buy" rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded FOX from an "underweight" rating to an "overweight" rating and lifted their target price for the company from $29.00 to $46.00 in a research report on Friday, August 16th. Finally, Bank of America raised shares of FOX from a "neutral" rating to a "buy" rating and increased their target price for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Nine analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus price target of $38.23.

FOX Stock Down 0.3 %

Shares of FOX stock traded down $0.11 during trading on Friday, reaching $40.31. 2,556,894 shares of the company traded hands, compared to its average volume of 2,976,237. The firm has a market capitalization of $18.81 billion, a PE ratio of 12.64, a P/E/G ratio of 1.86 and a beta of 0.77. Fox Co. has a 1-year low of $28.28 and a 1-year high of $41.58. The company has a 50 day moving average price of $38.18 and a 200-day moving average price of $34.01. 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 data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm 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 earnings per share. The business's quarterly revenue was up 2.0% compared to the same quarter last year. As a group, equities research analysts expect that Fox Co. will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

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

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.