American Century Companies Inc. boosted its stake in Fox Co. (NASDAQ:FOXA – Free Report) by 11.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 495,743 shares of the company’s stock after acquiring an additional 52,075 shares during the quarter. American Century Companies Inc. owned 0.09% of FOX worth $16,867,000 as of its most recent SEC filing.
A number of other large investors have also recently added to or reduced their stakes in FOXA. Envestnet Asset Management Inc. boosted its position in shares of FOX by 871.4% during the first quarter. Envestnet Asset Management Inc. now owns 3,102,730 shares of the company’s stock worth $15,135,000 after buying an additional 2,783,315 shares during the period. Norges Bank bought a new position in shares of FOX during the 4th quarter worth approximately $82,385,000. Great Lakes Advisors LLC raised its holdings in shares of FOX by 11,612.4% in the first quarter. Great Lakes Advisors LLC now owns 1,935,479 shares of the company’s stock valued at $65,903,000 after purchasing an additional 1,918,954 shares during the last quarter. Pacer Advisors Inc. boosted its holdings in FOX by 35.2% during the first quarter. Pacer Advisors Inc. now owns 3,595,152 shares of the company’s stock worth $122,415,000 after purchasing an additional 935,365 shares during the last quarter. Finally, Squarepoint Ops LLC bought a new position in FOX in the fourth quarter valued at $26,977,000. Institutional investors own 55.93% of the company’s stock.
Wall Street Analysts Forecast Growth
A number of equities analysts have recently commented on FOXA shares. Morgan Stanley increased their price objective on shares of FOX from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, August 9th. Credit Suisse Group reaffirmed a “neutral” rating and set a $33.00 price target on shares of FOX in a research report on Wednesday, August 9th. StockNews.com initiated coverage on FOX in a report on Thursday, August 17th. They issued a “hold” rating for the company. JPMorgan Chase & Co. boosted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Finally, Wells Fargo & Company cut shares of FOX from an “equal weight” rating to an “underweight” rating and cut their price target for the company from $35.00 to $31.00 in a research note on Monday, July 10th. Two research analysts have rated the stock with a sell rating, nine have assigned a hold rating and six have issued a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $36.50.
FOX Stock Down 1.0 %
FOXA stock opened at $33.06 on Friday. The business has a 50-day simple moving average of $33.56 and a 200 day simple moving average of $33.40. The company has a market cap of $16.18 billion, a PE ratio of 14.25, a price-to-earnings-growth ratio of 1.11 and a beta of 0.86. The company has a quick ratio of 1.78, a current ratio of 1.93 and a debt-to-equity ratio of 0.57. Fox Co. has a 52 week low of $28.01 and a 52 week high of $37.26.
FOX (NASDAQ:FOXA – Get Free Report) last announced its quarterly earnings data on Tuesday, August 8th. The company reported $0.88 earnings per share for the quarter, topping the consensus estimate of $0.71 by $0.17. FOX had a return on equity of 16.98% and a net margin of 8.31%. The business had revenue of $3.03 billion during the quarter, compared to the consensus estimate of $3.03 billion. During the same period in the prior year, the company earned $0.74 EPS. FOX’s revenue for the quarter was up .0% on a year-over-year basis. Sell-side analysts anticipate that Fox Co. will post 3.03 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 27th. Investors of record on Wednesday, August 30th will be paid a $0.26 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.25. The ex-dividend date of this dividend is Tuesday, August 29th. This represents a yield of 1.5%. FOX’s dividend payout ratio is presently 21.55%.
Insider Buying and Selling at FOX
In other news, insider Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Friday, June 16th. The stock was sold at an average price of $33.62, for a total value of $3,362,000.00. Following the completion of the transaction, the insider now directly owns 157,513 shares in the company, valued at approximately $5,295,587.06. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other FOX news, insider Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction that occurred on Friday, June 16th. The shares were sold at an average price of $33.62, for a total transaction of $3,362,000.00. Following the sale, the insider now directly owns 157,513 shares of the company’s stock, valued at approximately $5,295,587.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Viet D. Dinh sold 231,865 shares of the company’s stock in a transaction that occurred on Thursday, August 17th. The shares were sold at an average price of $33.40, for a total transaction of $7,744,291.00. Following the completion of the transaction, the insider now owns 56,161 shares of the company’s stock, valued at $1,875,777.40. The disclosure for this sale can be found here. Company insiders own 19.86% of the company’s stock.
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 and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.
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