Greenleaf Trust Buys New Holdings in Fox Co. (NASDAQ:FOXA)

Greenleaf Trust purchased a new position in shares of Fox Co. (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The fund purchased 7,312 shares of the company’s stock, valued at approximately $310,000.

A number of other large investors also recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV lifted 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 worth $25,000 after purchasing an additional 461 shares during the last quarter. Friedenthal Financial purchased a new stake in FOX during the 2nd quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the 2nd quarter worth about $52,000. Meeder Asset Management Inc. purchased a new position in shares of FOX in the 1st quarter valued at about $66,000. Finally, Covestor Ltd raised its position in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after acquiring an additional 2,128 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated 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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Company insiders own 21.77% of the company’s stock.

FOX Price Performance

FOX stock opened at $41.71 on Friday. The stock has a 50 day moving average of $41.19 and a two-hundred day moving average of $36.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $42.85. The stock has a market capitalization of $19.20 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.92 and a beta of 0.76. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results 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 firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period last year, the company earned $0.88 earnings per share. As a group, research analysts expect that Fox Co. will post 3.69 earnings per share for the current year.

FOX Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a $0.27 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s payout ratio is presently 17.25%.

Wall Street Analyst Weigh In

Several equities analysts have commented on the stock. Guggenheim increased their price target on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. Bank of America upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group upped their price objective on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI lifted their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has an average rating of “Hold” and an average target price of $41.08.

About FOX

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.