Public Sector Pension Investment Board Makes New $314,000 Investment in Fox Co. (NASDAQ:FOXA)

Public Sector Pension Investment Board acquired a new position in shares of Fox Co. (NASDAQ:FOXA) in the second quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor acquired 9,145 shares of the company’s stock, valued at approximately $314,000.

A number of other large investors also recently bought and sold shares of the company. Park Avenue Securities LLC grew its stake in shares of FOX by 1.7% during the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock worth $591,000 after purchasing an additional 324 shares during the period. Bessemer Group Inc. grew its stake in shares of FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the period. Raymond James Trust N.A. grew its stake in shares of FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after purchasing an additional 406 shares during the period. Linden Thomas Advisory Services LLC grew its stake in shares of FOX by 0.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after purchasing an additional 453 shares during the period. Finally, Verdence Capital Advisors LLC grew its stake in shares of FOX by 3.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock worth $461,000 after purchasing an additional 458 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Trading Down 0.2 %

Shares of FOXA stock opened at $41.90 on Friday. The firm has a market cap of $19.56 billion, a P/E ratio of 13.13, a PEG ratio of 1.85 and a beta of 0.76. Fox Co. has a 1-year low of $28.28 and a 1-year high of $42.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The firm’s 50-day simple moving average is $40.11 and its 200-day simple moving average is $35.53.

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

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were issued a $0.27 dividend. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date was Wednesday, September 4th. This represents a yield of 1.4%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Activity at FOX

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were 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 owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, 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 insiders.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent analyst reports. JPMorgan Chase & Co. upped their price target on shares of FOX from $38.00 to $41.00 and gave the stock a “neutral” rating in a research note on Wednesday, September 25th. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Bank of America increased their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Finally, Deutsche Bank Aktiengesellschaft increased 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. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and six have given a buy rating to the stock. According to MarketBeat, the company currently has an average rating of “Hold” and an average price target of $39.64.

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.