Swedbank AB Sells 2,324 Shares of Fox Co. (NASDAQ:FOXA)

Swedbank AB lowered its holdings in shares of Fox Co. (NASDAQ:FOXA) by 1.7% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 137,503 shares of the company’s stock after selling 2,324 shares during the quarter. Swedbank AB’s holdings in FOX were worth $5,821,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV increased its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares during the last quarter. Friedenthal Financial purchased a new stake in shares of FOX in the second quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter worth about $52,000. Meeder Asset Management Inc. purchased a new position in shares of FOX during the 1st quarter worth about $66,000. Finally, Mather Group LLC. bought a new position in FOX during the 1st quarter valued at about $86,000. Institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several analysts have issued reports on FOXA shares. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. The Goldman Sachs Group raised their price target on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Evercore ISI upped their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Finally, Bank of America lifted their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, FOX has a consensus rating of “Hold” and a consensus target price of $41.08.

FOX Trading Down 0.2 %

Shares of NASDAQ:FOXA opened at $42.47 on Friday. The business’s 50-day moving average is $40.91 and its 200 day moving average is $36.39. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. Fox Co. has a 1 year low of $28.28 and a 1 year high of $42.85. The firm has a market capitalization of $19.82 billion, a P/E ratio of 13.31, a P/E/G ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted 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. The firm had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company posted $0.88 earnings per share. On average, research analysts predict that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a dividend of $0.27 per share. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 4th. FOX’s payout ratio is presently 16.93%.

Insider Activity

In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The trade was a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. In other FOX 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 transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate 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 four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.