Xponance Inc. cut its stake in shares of Fox Co. (NASDAQ:FOXA – Free Report) by 3.5% in the second quarter, according to the company in its most recent disclosure with the SEC. The firm owned 40,108 shares of the company’s stock after selling 1,471 shares during the quarter. Xponance Inc.’s holdings in FOX were worth $1,364,000 as of its most recent filing with the SEC.
Several other large investors have also made changes to their positions in FOXA. Raymond James Financial Services Advisors Inc. grew its position in FOX by 13.7% during the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after acquiring an additional 2,440 shares during the last quarter. American Century Companies Inc. boosted its stake in FOX by 2.6% in the first quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock worth $2,210,000 after purchasing an additional 1,428 shares in the last quarter. US Bancorp DE grew its holdings in shares of FOX by 34.7% during the first quarter. US Bancorp DE now owns 12,614 shares of the company’s stock worth $498,000 after purchasing an additional 3,249 shares during the last quarter. PNC Financial Services Group Inc. increased its stake in shares of FOX by 6.4% in the first quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock valued at $974,000 after buying an additional 1,486 shares in the last quarter. Finally, Acadian Asset Management LLC raised its holdings in shares of FOX by 196.3% in the first quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock valued at $107,000 after buying an additional 1,800 shares during the last quarter. Institutional investors own 55.93% of the company’s stock.
Insider Activity
In related news, insider Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Friday, September 15th. The shares were sold at an average price of $31.90, for a total value of $3,190,000.00. Following the sale, the insider now directly owns 128,964 shares of the company’s stock, valued at approximately $4,113,951.60. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, insider Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Friday, September 15th. The stock was sold at an average price of $31.90, for a total value of $3,190,000.00. Following the sale, the insider now owns 128,964 shares of the company’s stock, valued at approximately $4,113,951.60. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, CEO Lachlan K. Murdoch purchased 141,367 shares of FOX stock in a transaction on Tuesday, August 15th. The shares were purchased at an average cost of $33.84 per share, with a total value of $4,783,859.28. Following the transaction, the chief executive officer now owns 956,702 shares in the company, valued at $32,374,795.68. The disclosure for this purchase can be found here. Corporate insiders own 19.86% of the company’s stock.
FOX Price Performance
FOX (NASDAQ:FOXA – Get Free Report) last posted its earnings results on Tuesday, August 8th. The company reported $0.88 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.71 by $0.17. FOX had a return on equity of 16.98% and a net margin of 8.31%. The firm had revenue of $3.03 billion during the quarter, compared to analysts’ expectations of $3.03 billion. During the same period in the previous year, the firm earned $0.74 earnings per share. The company’s revenue was up .0% on a year-over-year basis. On average, equities research analysts forecast that Fox Co. will post 3.03 earnings per share for the current year.
FOX Increases Dividend
The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 27th. Shareholders of record on Wednesday, August 30th were paid a $0.26 dividend. The ex-dividend date was Tuesday, August 29th. This represents a yield of 1.5%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.25. FOX’s payout ratio is presently 22.41%.
Analysts Set New Price Targets
FOXA has been the subject of several research reports. Rosenblatt Securities raised their price objective on shares of FOX from $33.00 to $34.00 and gave the company a “neutral” rating in a research report on Tuesday, September 5th. JPMorgan Chase & Co. upped their price objective on FOX from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Citigroup lifted their target price on FOX from $35.00 to $38.00 and gave the company a “neutral” rating in a research note on Thursday, August 17th. StockNews.com assumed coverage on FOX in a research note on Thursday, August 17th. They set a “hold” rating on the stock. Finally, Wells Fargo & Company lowered FOX from an “equal weight” rating to an “underweight” rating and lowered their price objective for the stock from $35.00 to $31.00 in a research report on Monday, July 10th. Two equities research analysts have rated the stock with a sell rating, nine have issued a hold rating and six have given a buy rating to the company. According to MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $36.56.
Check Out Our Latest Report on FOXA
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.
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