MBB Public Markets I LLC Raises Holdings in Fox Co. (NASDAQ:FOXA)

MBB Public Markets I LLC lifted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 49.9% during the second quarter, Holdings Channel.com reports. The fund owned 14,429 shares of the company’s stock after acquiring an additional 4,806 shares during the period. MBB Public Markets I LLC’s holdings in FOX were worth $496,000 as of its most recent SEC filing.

A number of other large investors have also modified their holdings of FOXA. Vanguard Group Inc. grew its stake in shares of FOX by 5.9% during the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock worth $934,354,000 after acquiring an additional 1,653,913 shares during the last quarter. Retirement Systems of Alabama grew its stake in shares of FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. grew its stake in shares of FOX by 294.2% during the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after acquiring an additional 663,089 shares during the last quarter. Teachers Retirement System of The State of Kentucky grew its stake in shares of FOX by 2,396.6% during the fourth quarter. Teachers Retirement System of The State of Kentucky now owns 673,723 shares of the company’s stock worth $19,989,000 after acquiring an additional 646,737 shares during the last quarter. Finally, Independent Franchise Partners LLP grew its stake in shares of FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after acquiring an additional 597,450 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In other news, COO John Nallen sold 52,874 shares of the company’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 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. The sale was disclosed in a filing with the SEC, which is available at this link. In related news, COO John Nallen sold 52,874 shares of the stock in a transaction 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 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. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Trading Down 0.0 %

FOX stock opened at $42.32 on Wednesday. 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 Co. has a 12 month low of $28.28 and a 12 month high of $42.63. The stock’s 50 day simple moving average is $39.91 and its two-hundred day simple moving average is $35.44. The firm has a market cap of $19.75 billion, a PE ratio of 13.27, a P/E/G ratio of 1.85 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its 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 business 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 business’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the company posted $0.88 EPS. Analysts anticipate that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The firm also recently announced 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 represents a dividend yield of 1.4%. 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. FOX’s dividend payout ratio is presently 16.93%.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent research reports. Bank of America upped their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Macquarie upped their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research report on Monday, August 12th. Cfra reiterated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. JPMorgan Chase & Co. upped their target price on FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a research report on Wednesday, September 25th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $39.64.

About FOX

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.