LSV Asset Management Grows Position in Fox Co. (NASDAQ:FOXA)

LSV Asset Management lifted its holdings in Fox Co. (NASDAQ:FOXA) by 5.9% during the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 8,577,714 shares of the company’s stock after purchasing an additional 481,267 shares during the period. LSV Asset Management’s holdings in FOX were worth $294,816,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Paralel Advisors LLC lifted its position in FOX by 29.9% during the second quarter. Paralel Advisors LLC now owns 72,998 shares of the company’s stock worth $2,509,000 after buying an additional 16,782 shares in the last quarter. Caprock Group LLC purchased a new position in shares of FOX during the 2nd quarter worth $437,000. Acadian Asset Management LLC boosted its position in shares of FOX by 580.0% during the 2nd quarter. Acadian Asset Management LLC now owns 6,236 shares of the company’s stock valued at $213,000 after acquiring an additional 5,319 shares during the last quarter. Greystone Financial Group LLC purchased a new stake in shares of FOX in the second quarter valued at about $7,480,000. Finally, Foundry Partners LLC acquired a new stake in FOX during the second quarter worth about $11,824,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Down 0.3 %

Shares of NASDAQ FOXA traded down $0.11 during midday trading on Friday, hitting $40.31. The company’s stock had a trading volume of 2,558,080 shares, compared to its average volume of 2,976,237. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The firm has a market capitalization of $18.81 billion, a price-to-earnings ratio of 12.64, a price-to-earnings-growth ratio of 1.86 and a beta of 0.76. The business’s fifty day simple moving average is $38.18 and its two-hundred day simple moving average is $34.04. Fox Co. has a 1 year low of $28.28 and a 1 year high of $41.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS 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 company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the company posted $0.88 EPS. The firm’s revenue was up 2.0% compared to the same quarter last year. On average, equities analysts predict that Fox Co. will post 3.72 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. Investors of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. This represents a yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s payout ratio is presently 16.93%.

Insiders Place Their Bets

In other FOX news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on 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 approximately $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 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 value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 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 completion of the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have weighed in on FOXA shares. Rosenblatt Securities boosted their target price on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft increased their price objective on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research report on Wednesday, August 7th. Macquarie lifted their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. JPMorgan Chase & Co. increased their price target on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Finally, Evercore ISI boosted their price objective on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Nine investment analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.23.

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.