Raymond James Trust N.A. Grows Stock Position in Fox Co. (NASDAQ:FOXA)

Raymond James Trust N.A. increased its holdings in Fox Co. (NASDAQ:FOXA) by 4.4% in the 2nd quarter, according to its most recent disclosure with the SEC. The firm owned 9,691 shares of the company’s stock after acquiring an additional 406 shares during the period. Raymond James Trust N.A.’s holdings in FOX were worth $333,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Massmutual Trust Co. FSB ADV grew its holdings 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 period. UMB Bank n.a. lifted its position in FOX by 254.4% in the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after buying an additional 809 shares during the last quarter. Global Retirement Partners LLC boosted its stake in FOX by 38.4% during the first quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock worth $41,000 after buying an additional 362 shares during the period. Altshuler Shaham Ltd acquired a new stake in shares of FOX during the fourth quarter valued at about $43,000. Finally, Friedenthal Financial purchased a new stake in shares of FOX in the 2nd quarter valued at approximately $51,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 0.1 %

Shares of FOX stock opened at $41.04 on Wednesday. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. Fox Co. has a 52-week low of $28.28 and a 52-week high of $41.40. The company has a market capitalization of $19.15 billion, a P/E ratio of 12.87, a P/E/G ratio of 1.51 and a beta of 0.77. The company has a 50 day moving average of $36.95 and a 200 day moving average of $33.38.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) 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 analysts’ expectations of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. The company’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same period in the previous year, the company earned $0.88 EPS. As a group, research analysts forecast that Fox Co. will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

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

Wall Street Analyst Weigh In

A number of equities analysts recently weighed in on the stock. Macquarie increased their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $46.00 in a research note on Friday, August 16th. Rosenblatt Securities increased their target price on FOX from $37.00 to $38.00 and gave the stock 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 lifted their target price for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. Finally, Barclays boosted their price target on shares of FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Nine equities research analysts have rated the stock with a hold rating and six have given a buy rating to the company’s stock. According to MarketBeat, the company has an average rating of “Hold” and an average target price of $38.23.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of the business’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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. In related news, COO John Nallen sold 52,874 shares of FOX stock in a transaction 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 sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. Company 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 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.