Fox Co. (NASDAQ:FOXA) Shares Purchased by Edgestream Partners L.P.

Edgestream Partners L.P. grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 343.1% in the 2nd quarter, Holdings Channel.com reports. The fund owned 203,956 shares of the company’s stock after purchasing an additional 157,927 shares during the quarter. Edgestream Partners L.P.’s holdings in FOX were worth $7,010,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV lifted its position 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 last quarter. UMB Bank n.a. lifted its holdings 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 buying an additional 809 shares during the last quarter. Friedenthal Financial acquired a new position in shares of FOX in the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter valued at approximately $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in shares of FOX during the 1st quarter valued at approximately $66,000. Institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts have commented on the stock. Rosenblatt Securities lifted 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. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. The Goldman Sachs Group raised their target price on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, JPMorgan Chase & Co. raised 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. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $38.23.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of the business’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 transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which is available through the SEC website. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction dated 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 transaction, the chief executive officer now 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 accessible through the SEC website. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction that occurred 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Trading Up 0.1 %

Shares of FOXA stock opened at $39.71 on Tuesday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $41.58. The firm has a market capitalization of $18.53 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76. The stock has a fifty day moving average of $38.79 and a two-hundred day moving average of $34.49. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54.

FOX (NASDAQ:FOXA) last issued 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 business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s revenue was up 2.0% on a year-over-year basis. During the same period in the previous year, the business earned $0.88 earnings per share. As a group, research analysts expect that Fox Co. will post 3.72 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is 16.93%.

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.