AQR Capital Management LLC Sells 327,946 Shares of Fox Co. (NASDAQ:FOXA)

AQR Capital Management LLC lessened its holdings in Fox Co. (NASDAQ:FOXA) by 48.8% during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 344,586 shares of the company’s stock after selling 327,946 shares during the period. AQR Capital Management LLC owned 0.07% of FOX worth $11,843,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. Royal London Asset Management Ltd. lifted its stake in shares of FOX by 2.3% during the 4th quarter. Royal London Asset Management Ltd. now owns 104,572 shares of the company’s stock worth $3,103,000 after buying an additional 2,334 shares during the last quarter. First Trust Advisors LP boosted its holdings in shares of FOX by 17.3% during the fourth quarter. First Trust Advisors LP now owns 927,051 shares of the company’s stock worth $27,506,000 after acquiring an additional 136,473 shares during the period. Cibc World Markets Corp bought a new stake in shares of FOX during the fourth quarter worth approximately $5,129,000. Pinebridge Investments L.P. grew its position in shares of FOX by 1.3% in the fourth quarter. Pinebridge Investments L.P. now owns 842,238 shares of the company’s stock valued at $24,989,000 after purchasing an additional 11,034 shares during the last quarter. Finally, Asahi Life Asset Management CO. LTD. bought a new position in shares of FOX during the fourth quarter worth approximately $333,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of brokerages have commented on FOXA. Bank of America upped their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Cfra reaffirmed a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and increased their target price for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. Finally, The Goldman Sachs Group lifted their price target on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, ten have given a hold rating and six have given a buy rating to the stock. According to MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $39.64.

Insider Buying and Selling

In related news, 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 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 filing with the SEC, which can be accessed through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were 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 of the company’s stock, valued at approximately $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was acquired at an average price 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 approximately $42,044,457.42. The disclosure for this purchase can be found here. 21.77% of the stock is currently owned by insiders.

FOX Trading Down 0.0 %

Shares of FOXA stock opened at $42.32 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The firm has a market capitalization of $19.75 billion, a P/E ratio of 13.27, a P/E/G ratio of 1.85 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $42.63. The stock’s fifty day simple moving average is $39.91 and its 200 day simple moving average is $35.44.

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 return on equity of 15.57% and a net margin of 10.74%. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. The firm’s revenue was up 2.0% compared to the same quarter last year. As a group, sell-side analysts predict that Fox Co. will post 3.72 EPS for the current fiscal year.

FOX Increases Dividend

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