Headlands Technologies LLC Invests $231,000 in Fox Co. (NASDAQ:FOXA)

Headlands Technologies LLC acquired a new stake in shares of Fox Co. (NASDAQ:FOXA) during the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 6,729 shares of the company’s stock, valued at approximately $231,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Norges Bank purchased a new stake in FOX during the 4th quarter valued at $68,391,000. KBC Group NV increased its position in FOX by 453.0% during the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after acquiring an additional 1,662,748 shares during the last quarter. Vanguard Group Inc. lifted its holdings in FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after acquiring an additional 1,653,913 shares during the period. TD Asset Management Inc boosted its position in FOX by 128.0% in the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after purchasing an additional 1,287,911 shares during the last quarter. Finally, Retirement Systems of Alabama boosted its position in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.9 %

Shares of FOXA opened at $39.66 on Friday. The business’s 50 day moving average is $38.68 and its 200 day moving average is $34.35. 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 $41.58. The company has a market capitalization of $18.25 billion, a PE ratio of 12.43, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76.

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, beating the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter last year, the business posted $0.88 earnings per share. The company’s revenue for the quarter was up 2.0% compared to the same quarter last year. Research analysts expect that Fox Co. will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

The company 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 positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date is Wednesday, September 4th. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the 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 $9,717,559.04. The sale was disclosed in a filing with the SEC, which is available through this link. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s 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 purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The purchase was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, COO John Nallen sold 52,874 shares of the business’s 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 in the company, valued at $9,717,559.04. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently weighed in on FOXA. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and increased their price objective for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft raised their target price on FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. Finally, Rosenblatt Securities lifted their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Ten equities research analysts have rated the stock with a hold rating and five have assigned a buy rating to the company. According to data from MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $38.23.

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.