Exchange Traded Concepts LLC Takes Position in Fox Co. (NASDAQ:FOXA)

Exchange Traded Concepts LLC bought a new stake in shares of Fox Co. (NASDAQ:FOXA) during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund bought 3,321 shares of the company’s stock, valued at approximately $141,000.

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted 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 valued at $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial bought a new stake in shares of FOX during the 2nd quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in shares of FOX during the 2nd quarter valued at about $52,000. Meeder Asset Management Inc. bought a new stake in shares of FOX during the 1st quarter valued at about $66,000. Finally, Covestor Ltd boosted its stake in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after purchasing an additional 2,128 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Up 0.4 %

Shares of FOX stock opened at $42.23 on Wednesday. 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 stock has a market capitalization of $19.71 billion, a PE ratio of 13.24, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76. Fox Co. has a 52-week low of $28.28 and a 52-week high of $42.85. The company has a 50-day simple moving average of $41.04 and a two-hundred day simple moving average of $36.62.

FOX (NASDAQ:FOXA) last issued its earnings results 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 business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same period in the previous year, the company earned $0.88 earnings per share. On average, analysts anticipate that Fox Co. will post 3.69 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed 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%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s payout ratio is presently 16.93%.

Analyst Ratings Changes

A number of equities research analysts have recently weighed in on the stock. JPMorgan Chase & Co. lifted their target price on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a research note on Wednesday, September 25th. Guggenheim lifted their price target on shares of FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and lifted their price target for the company from $29.00 to $46.00 in a research report on Friday, August 16th. 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. Finally, Rosenblatt Securities lifted their price target on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have given a hold rating and seven have assigned a buy rating to the stock. According to MarketBeat.com, the company has an average rating of “Hold” and a consensus price target of $41.08.

Insider Activity

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

FOX 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.