344,025 Shares in Fox Co. (NASDAQ:FOXA) Acquired by Foundry Partners LLC

Foundry Partners LLC bought a new stake in shares of Fox Co. (NASDAQ:FOXA) during the 2nd quarter, HoldingsChannel reports. The firm bought 344,025 shares of the company’s stock, valued at approximately $11,824,000.

A number of other institutional investors and hedge funds have also modified their holdings of FOXA. Massmutual Trust Co. FSB ADV boosted its holdings in FOX by 176.6% in 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. grew its holdings in shares of FOX by 254.4% in the first 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 increased its position in FOX by 38.4% during the first 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 during the last quarter. Friedenthal Financial bought a new position in FOX in the second quarter valued at about $51,000. Finally, Duncker Streett & Co. Inc. bought a new position in FOX in the second quarter valued at about $52,000. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have issued reports on FOXA shares. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and raised their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. JPMorgan Chase & Co. raised their target price on FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Evercore ISI raised their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. Finally, Bank of America raised FOX from a “neutral” rating to a “buy” rating and raised their target price for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX has an average rating of “Hold” and an average price target of $38.23.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated 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 of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated 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 of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following 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. Insiders own 21.77% of the company’s stock.

FOX Price Performance

NASDAQ FOXA traded up $0.09 during trading hours on Friday, reaching $40.51. The company’s stock had a trading volume of 204,518 shares, compared to its average volume of 2,962,560. Fox Co. has a 1 year low of $28.28 and a 1 year high of $41.58. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $18.91 billion, a price-to-earnings ratio of 12.67, a PEG ratio of 1.86 and a beta of 0.77. The firm’s 50-day moving average price is $38.06 and its 200-day moving average price is $33.95.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s quarterly revenue was up 2.0% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $0.88 earnings per share. On average, equities research analysts predict that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

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

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.