Los Angeles Capital Management LLC Sells 159,586 Shares of Fox Co. (NASDAQ:FOXA)

Los Angeles Capital Management LLC cut its holdings in shares of Fox Co. (NASDAQ:FOXA) by 90.1% during the second quarter, Holdings Channel.com reports. The fund owned 17,488 shares of the company’s stock after selling 159,586 shares during the period. Los Angeles Capital Management LLC’s holdings in FOX were worth $601,000 at the end of the most recent reporting period.

Other large investors have also made changes to their positions in the company. Foundry Partners LLC purchased a new stake in shares of FOX during the second quarter worth about $11,824,000. Victory Capital Management Inc. boosted its stake in FOX by 16.8% in the 2nd quarter. Victory Capital Management Inc. now owns 870,941 shares of the company’s stock worth $29,934,000 after purchasing an additional 125,321 shares during the period. National Bank of Canada FI grew its holdings in FOX by 20.2% during the 2nd quarter. National Bank of Canada FI now owns 63,609 shares of the company’s stock valued at $2,170,000 after buying an additional 10,670 shares in the last quarter. Weaver Capital Management LLC bought a new stake in shares of FOX during the second quarter valued at approximately $489,000. Finally, Rhumbline Advisers lifted its holdings in shares of FOX by 1.5% in the second quarter. Rhumbline Advisers now owns 540,545 shares of the company’s stock worth $18,578,000 after buying an additional 7,767 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX 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 value of $2,059,971.04. Following the transaction, the chief operating officer now 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 Securities & Exchange Commission, which is accessible through this hyperlink. In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s 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 transaction, 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. 21.77% of the stock is owned by corporate insiders.

FOX Stock Up 1.9 %

NASDAQ FOXA opened at $39.66 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. Fox Co. has a 52 week low of $28.28 and a 52 week high of $41.58. The firm has a market capitalization of $18.25 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.78 and a beta of 0.76. The company has a fifty day moving average of $38.68 and a two-hundred day moving average of $34.35.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping analysts’ consensus estimates 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 during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company earned $0.88 EPS. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. On average, analysts predict that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.27 dividend. 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 is Wednesday, September 4th. FOX’s dividend payout ratio is presently 16.93%.

Wall Street Analyst Weigh In

Several research firms recently weighed in on FOXA. Macquarie lifted their price target on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Evercore ISI lifted their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a report on Wednesday, August 7th. Rosenblatt Securities boosted their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, The Goldman Sachs Group lifted their price objective on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Ten analysts have rated the stock with a hold rating and five have given a buy rating to the company. According to MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $38.23.

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.