Point72 Asia Singapore Pte. Ltd. Acquires Shares of 29,818 Fox Co. (NASDAQ:FOXA)

Point72 Asia Singapore Pte. Ltd. bought a new position in Fox Co. (NASDAQ:FOXA) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor bought 29,818 shares of the company’s stock, valued at approximately $1,025,000.

Other large investors have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV grew its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. UMB Bank n.a. increased its stake 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 valued at $35,000 after buying an additional 809 shares in the last quarter. Friedenthal Financial bought a new position in shares of FOX in the second quarter valued at about $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the 2nd quarter valued at about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of FOX during the first quarter worth approximately $66,000. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several research analysts recently weighed in on FOXA shares. Macquarie boosted their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. The Goldman Sachs Group raised their price target on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Guggenheim boosted their price objective on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a report on Tuesday. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, JPMorgan Chase & Co. boosted their price target on shares of FOX from $36.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $38.71.

FOX Stock Performance

FOXA stock opened at $42.32 on Wednesday. Fox Co. has a 1-year low of $28.28 and a 1-year high of $42.44. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The firm has a market cap of $19.48 billion, a PE ratio of 13.27, a P/E/G ratio of 1.85 and a beta of 0.76. The business’s 50-day moving average price is $39.40 and its two-hundred day moving average price is $34.99.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period in the previous year, the firm earned $0.88 EPS. FOX’s quarterly revenue was up 2.0% compared to the same quarter last year. As a group, research analysts forecast that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a $0.27 dividend. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. This represents a yield of 1.4%. The ex-dividend date is Wednesday, September 4th. FOX’s payout ratio is currently 16.93%.

Insider Buying and Selling

In related news, COO John Nallen sold 52,874 shares of the stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. Company insiders own 21.77% 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.