Mutual of America Capital Management LLC Lowers Stake in Fox Co. (NASDAQ:FOXA)

Mutual of America Capital Management LLC lessened its position in shares of Fox Co. (NASDAQ:FOXA) by 5.6% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 65,430 shares of the company’s stock after selling 3,875 shares during the period. Mutual of America Capital Management LLC’s holdings in FOX were worth $2,249,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. UMB Bank n.a. lifted its stake 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 purchasing 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. acquired a new position in shares of FOX during the second quarter worth about $52,000. Finally, Meeder Asset Management Inc. acquired a new position in shares of FOX during the first quarter worth about $66,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity

In related news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value 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 purchase was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 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 value 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 filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred 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 completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages have commented on FOXA. The Goldman Sachs Group boosted 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. Evercore ISI boosted their price target on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Macquarie boosted their price target on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. Finally, Guggenheim boosted their price target on FOX from $44.00 to $45.00 and gave the stock a “buy” rating in a research note on Tuesday. Ten research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $38.71.

FOX Trading Up 2.9 %

Shares of NASDAQ FOXA opened at $42.32 on Wednesday. The stock has a market capitalization of $19.75 billion, a P/E ratio of 13.27, a PEG ratio of 1.78 and a beta of 0.76. The stock’s 50 day moving average price is $39.40 and its two-hundred day moving average price is $34.99. Fox Co. has a 52-week low of $28.28 and a 52-week high of $42.44. 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 (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue was up 2.0% compared to the same quarter last year. During the same period in the prior year, the company earned $0.88 earnings per share. On average, analysts anticipate that Fox Co. will post 3.72 earnings per share for the current fiscal year.

FOX Increases Dividend

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

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.