Fox Co. (NASDAQ:FOXA) Position Boosted by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC lifted its position in shares of Fox Co. (NASDAQ:FOXA) by 1.3% during the 2nd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 987,444 shares of the company’s stock after acquiring an additional 12,321 shares during the period. Allspring Global Investments Holdings LLC owned about 0.21% of FOX worth $33,938,000 at the end of the most recent reporting period.

A number of other institutional investors have also modified their holdings of FOXA. Park Avenue Securities LLC increased its position in FOX by 1.7% in the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after acquiring an additional 324 shares during the period. Bessemer Group Inc. increased its holdings in shares of FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after purchasing an additional 326 shares during the period. Global Retirement Partners LLC lifted its holdings in FOX by 38.4% in the first quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock worth $41,000 after purchasing an additional 362 shares during the period. Raymond James Trust N.A. increased its stake in FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after buying an additional 406 shares during the period. Finally, Linden Thomas Advisory Services LLC lifted its stake in shares of FOX by 0.9% in the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after acquiring an additional 453 shares during the period. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares in the company, valued at $3,788,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were bought 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 directly 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 currently owned by company insiders.

FOX Trading Down 0.2 %

FOXA traded down $0.09 during mid-day trading on Tuesday, hitting $40.99. The stock had a trading volume of 87,997 shares, compared to its average volume of 2,991,143. The stock’s fifty day simple moving average is $36.95 and its 200-day simple moving average is $33.38. The firm has a market capitalization of $19.13 billion, a price-to-earnings ratio of 12.88, a price-to-earnings-growth ratio of 1.51 and a beta of 0.77. Fox Co. has a 1-year low of $28.28 and a 1-year high of $41.40. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same period in the prior year, the company earned $0.88 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Fox Co. will post 3.33 EPS for the current fiscal 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 given a dividend of $0.27 per share. This is an increase 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 is currently 16.93%.

Wall Street Analysts Forecast Growth

A number of brokerages have recently commented on FOXA. Barclays increased their price objective on FOX from $33.00 to $36.00 and gave the company an “equal weight” rating in a research report on Monday, May 13th. Evercore ISI boosted their price target on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft lifted 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. The Goldman Sachs Group raised their target price on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and increased their price objective for the company from $29.00 to $46.00 in a report on Friday, August 16th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus 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.