Ritholtz Wealth Management Acquires 3,715 Shares of Fox Co. (NASDAQ:FOXA)

Ritholtz Wealth Management raised its stake in shares of Fox Co. (NASDAQ:FOXA) by 62.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 9,705 shares of the company’s stock after acquiring an additional 3,715 shares during the quarter. Ritholtz Wealth Management’s holdings in FOX were worth $411,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Massmutual Trust Co. FSB ADV lifted its stake in shares of 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 last quarter. Friedenthal Financial bought a new stake in shares of FOX in the 2nd quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX in the 2nd quarter valued at about $52,000. Meeder Asset Management Inc. purchased a new position in shares of FOX in the 1st quarter worth approximately $66,000. Finally, Covestor Ltd grew its holdings in FOX by 283.0% in the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after purchasing an additional 2,128 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This trade represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction dated Thursday, August 15th. The shares were bought 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 in the company, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

Several brokerages have recently commented on FOXA. 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. Rosenblatt Securities raised 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. Bank of America upped their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft lifted their target price on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Finally, Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. One research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus price target of $41.08.

FOX Stock Up 0.6 %

FOX stock opened at $42.08 on Thursday. Fox Co. has a 52 week low of $28.28 and a 52 week high of $42.63. The firm has a market cap of $19.64 billion, a price-to-earnings ratio of 13.19, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. The business’s 50-day moving average price is $40.78 and its 200 day moving average price is $36.27. 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 earnings per share for the quarter, beating the consensus estimate 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 analyst estimates of $3.10 billion. During the same period in the previous year, the firm earned $0.88 EPS. The business’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fox Co. will post 3.69 earnings per share for the current year.

FOX Increases Dividend

The company also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were given a $0.27 dividend. The ex-dividend date was Wednesday, September 4th. This represents a dividend yield of 1.4%. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. 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 four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.