Wealth Enhancement Advisory Services LLC Trims Stock Position in Fox Co. (NASDAQ:FOXA)

Wealth Enhancement Advisory Services LLC decreased its stake in Fox Co. (NASDAQ:FOXA) by 24.5% during the second quarter, Holdings Channel reports. The institutional investor owned 10,998 shares of the company’s stock after selling 3,576 shares during the quarter. Wealth Enhancement Advisory Services LLC’s holdings in FOX were worth $378,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC increased its holdings 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 valued at $591,000 after purchasing an additional 324 shares in the last quarter. Bessemer Group Inc. grew its position in FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after buying an additional 326 shares during the period. Global Retirement Partners LLC increased its holdings in FOX by 38.4% in the first quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after buying an additional 362 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of FOX by 0.9% in the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after acquiring an additional 453 shares during the period. Finally, Massmutual Trust Co. FSB ADV boosted its stake 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 acquiring an additional 461 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related 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 value of $2,059,971.04. Following the transaction, the chief operating officer now directly 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 hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

Several brokerages recently weighed in on FOXA. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. Bank of America raised FOX from a “neutral” rating to a “buy” rating and upped their target price for the stock from $34.00 to $40.00 in a research note on Thursday, May 9th. Evercore ISI lifted their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group boosted their price target on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, JPMorgan Chase & Co. increased their price objective on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Nine research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company. Based on data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $38.23.

FOX Stock Performance

FOXA opened at $41.01 on Friday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $41.16. The firm has a market capitalization of $19.14 billion, a PE ratio of 12.86, a PEG ratio of 1.51 and a beta of 0.77. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The firm’s 50-day moving average price is $36.80 and its 200 day moving average price is $33.27.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates 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 11.19% and a return on equity of 15.90%. The business’s revenue was up 2.0% on a year-over-year basis. During the same period last year, the company posted $0.88 EPS. As a group, sell-side analysts expect that Fox Co. will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

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

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.