DekaBank Deutsche Girozentrale Boosts Position in Fox Co. (NASDAQ:FOXA)

DekaBank Deutsche Girozentrale boosted its holdings in Fox Co. (NASDAQ:FOXA) by 5.8% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 80,699 shares of the company’s stock after purchasing an additional 4,434 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in FOX were worth $2,733,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOXA. Norges Bank acquired a new position in FOX in the fourth quarter valued at approximately $68,391,000. KBC Group NV boosted its holdings in FOX by 453.0% in the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock valued at $60,225,000 after purchasing an additional 1,662,748 shares in the last quarter. Vanguard Group Inc. boosted 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 purchasing an additional 1,653,913 shares in the last quarter. TD Asset Management Inc boosted its holdings in FOX by 128.0% in the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares in the last quarter. Finally, Retirement Systems of Alabama boosted its holdings in FOX by 1,727.2% in the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

In other FOX 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 owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other FOX 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 owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now 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. 21.77% of the stock is currently owned by company insiders.

Analyst Ratings Changes

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

FOX Price Performance

FOX stock opened at $40.60 on Thursday. The business has a 50 day simple moving average of $39.00 and a 200-day simple moving average of $34.61. The stock has a market capitalization of $18.95 billion, a PE ratio of 12.73, a price-to-earnings-growth ratio of 1.78 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. Fox Co. has a 12 month low of $28.28 and a 12 month high of $41.58.

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 firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. FOX’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the business posted $0.88 earnings per share. Equities analysts predict that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

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

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.