Envestnet Asset Management Inc. lifted its stake in shares of Fox Co. (NASDAQ:FOXA – Free Report) by 871.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 3,102,730 shares of the company’s stock after buying an additional 2,783,315 shares during the quarter. Envestnet Asset Management Inc. owned about 0.58% of FOX worth $15,135,000 at the end of the most recent reporting period.
Other institutional investors have also modified their holdings of the company. Belpointe Asset Management LLC acquired a new position in shares of FOX in the 4th quarter valued at $32,000. Parallel Advisors LLC increased its holdings in shares of FOX by 65.4% in the 1st quarter. Parallel Advisors LLC now owns 1,671 shares of the company’s stock valued at $57,000 after acquiring an additional 661 shares during the period. CWM LLC increased its holdings in shares of FOX by 43.5% in the 1st quarter. CWM LLC now owns 1,688 shares of the company’s stock valued at $57,000 after acquiring an additional 512 shares during the period. Sentry Investment Management LLC increased its holdings in shares of FOX by 26.6% in the 4th quarter. Sentry Investment Management LLC now owns 2,044 shares of the company’s stock valued at $62,000 after acquiring an additional 430 shares during the period. Finally, Optiver Holding B.V. acquired a new position in shares of FOX in the 1st quarter valued at $71,000. Hedge funds and other institutional investors own 55.93% of the company’s stock.
Analyst Upgrades and Downgrades
FOXA has been the topic of a number of recent research reports. Wells Fargo & Company cut shares of FOX from an “equal weight” rating to an “underweight” rating and cut their target price for the company from $35.00 to $31.00 in a report on Monday, July 10th. StockNews.com began coverage on shares of FOX in a research note on Thursday, August 17th. They issued a “hold” rating on the stock. Morgan Stanley boosted their price objective on shares of FOX from $37.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, August 9th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “overweight” rating in a research note on Wednesday, August 9th. Finally, Citigroup boosted their price objective on shares of FOX from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. Two equities research analysts have rated the stock with a sell rating, nine have given a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, the company has a consensus rating of “Hold” and an average price target of $36.50.
FOX Price Performance
Shares of NASDAQ FOXA opened at $30.98 on Monday. Fox Co. has a one year low of $28.01 and a one year high of $37.26. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.78 and a current ratio of 1.93. The company’s fifty day moving average is $33.52 and its two-hundred day moving average is $33.33. The firm has a market capitalization of $15.16 billion, a P/E ratio of 13.35, a PEG ratio of 1.11 and a beta of 0.85.
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings data on Tuesday, August 8th. The company reported $0.88 EPS for the quarter, topping the consensus estimate of $0.71 by $0.17. FOX had a net margin of 8.31% and a return on equity of 16.98%. The business had revenue of $3.03 billion for the quarter, compared to analyst estimates of $3.03 billion. During the same period in the previous year, the firm earned $0.74 EPS. The business’s revenue for the quarter was up .0% compared to the same quarter last year. Analysts forecast that Fox Co. will post 3.03 EPS for the current fiscal year.
FOX Increases Dividend
The firm also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 27th. Investors of record on Wednesday, August 30th will be given a $0.26 dividend. The ex-dividend date is Tuesday, August 29th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.25. This represents a dividend yield of 1.5%. FOX’s payout ratio is currently 22.41%.
Insider Buying and Selling
In related news, insider Viet D. Dinh sold 231,865 shares of the business’s stock in a transaction dated Thursday, August 17th. The shares were sold at an average price of $33.40, for a total value of $7,744,291.00. Following the sale, the insider now directly owns 56,161 shares in the company, valued at approximately $1,875,777.40. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other FOX news, insider Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $33.62, for a total value of $3,362,000.00. Following the transaction, the insider now directly owns 157,513 shares in the company, valued at approximately $5,295,587.06. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, insider Viet D. Dinh sold 231,865 shares of the company’s stock in a transaction dated 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 in the company, valued at $1,875,777.40. The disclosure for this sale can be found here. 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 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.
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