Fox Co. (NASDAQ:FOXA) Shares Acquired by Hsbc Holdings PLC

Hsbc Holdings PLC lifted its stake in shares of Fox Co. (NASDAQ:FOXA) by 22.0% during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 568,342 shares of the company’s stock after acquiring an additional 102,601 shares during the quarter. Hsbc Holdings PLC’s holdings in FOX were worth $19,563,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its holdings in 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. grew its position in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock worth $35,000 after buying an additional 809 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX during the second quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. acquired a new stake in FOX in the first quarter valued at approximately $66,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Down 0.7 %

Shares of FOX stock opened at $40.21 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The company has a market capitalization of $18.77 billion, a P/E ratio of 12.61, a PEG ratio of 1.78 and a beta of 0.76. Fox Co. has a 1 year low of $28.28 and a 1 year high of $41.58. The company’s fifty day moving average is $39.18 and its two-hundred day moving average is $34.77.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results 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 return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the firm posted $0.88 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. Analysts forecast that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Insider Activity at FOX

In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value 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 approximately $9,717,559.04. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. In other 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 approximately $9,717,559.04. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the purchase, 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 insiders.

Analyst Ratings Changes

A number of brokerages have commented on FOXA. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie increased their target price on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Rosenblatt Securities lifted their price target on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. increased their price objective on FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, The Goldman Sachs Group boosted their target price on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Ten research analysts have rated the stock with a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus price target of $38.23.

FOX 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.