Greystone Financial Group LLC Makes New $7.48 Million Investment in Fox Co. (NASDAQ:FOXA)

Greystone Financial Group LLC purchased a new stake in Fox Co. (NASDAQ:FOXA - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm purchased 217,636 shares of the company's stock, valued at approximately $7,480,000.

Several other institutional investors have also modified their holdings of FOXA. Victory Capital Management Inc. grew its position in shares of FOX by 30.9% during the fourth quarter. Victory Capital Management Inc. now owns 717,625 shares of the company's stock worth $21,292,000 after buying an additional 169,454 shares in the last quarter. Natixis Advisors L.P. increased its position in shares of FOX by 3.1% in the 4th quarter. Natixis Advisors L.P. now owns 258,142 shares of the company's stock valued at $7,659,000 after purchasing an additional 7,847 shares during the last quarter. Charles Schwab Investment Management Inc. raised its holdings in shares of FOX by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company's stock valued at $68,996,000 after purchasing an additional 42,143 shares in the last quarter. Principal Securities Inc. purchased a new stake in shares of FOX during the 4th quarter worth $156,000. Finally, AGF Management Ltd. grew its stake in shares of FOX by 10.7% during the fourth quarter. AGF Management Ltd. now owns 102,621 shares of the company's stock worth $3,045,000 after purchasing an additional 9,926 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Wall Street Analyst Weigh In

A number of analysts have issued reports on the company. Macquarie lifted their price target on FOX from $32.00 to $35.00 and gave the stock a "neutral" rating in a report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on shares of FOX from $36.00 to $38.00 and gave the company a "neutral" rating in a research note on Wednesday, August 7th. Evercore ISI boosted their price objective on shares of FOX from $33.00 to $38.00 and gave the stock an "in-line" rating in a research report on Wednesday, August 7th. Barclays increased their target price on shares of FOX from $33.00 to $36.00 and gave the company an "equal weight" rating in a research report on Monday, May 13th. Finally, Deutsche Bank Aktiengesellschaft upped their price objective on shares of 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. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus price target of $38.23.

FOX Stock Performance

Shares of FOXA stock traded down $0.11 during mid-day trading on Friday, hitting $40.31. The stock had a trading volume of 2,558,080 shares, compared to its average volume of 2,976,237. The firm has a market cap of $18.81 billion, a PE ratio of 12.64, a PEG ratio of 1.86 and a beta of 0.77. The company's 50-day simple moving average is $38.18 and its 200-day simple moving average is $34.04. 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 Co. has a fifty-two week low of $28.28 and a fifty-two week high of $41.58.

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 analysts' consensus estimates of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm's revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the company earned $0.88 EPS. Sell-side analysts anticipate that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The firm also recently disclosed 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 is a boost from FOX's previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a yield of 1.4%. FOX's dividend payout ratio is presently 16.93%.

Insider Buying and Selling at FOX

In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction dated 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 in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a document filed with the SEC, which is available at this hyperlink. In related news, COO John Nallen sold 52,874 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm's stock in a transaction 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 transaction, 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 corporate insiders.

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.