Fox Co. (NASDAQ:FOXA) Shares Sold by Envestnet Portfolio Solutions Inc.

Envestnet Portfolio Solutions Inc. cut its position in shares of Fox Co. (NASDAQ:FOXA) by 79.5% in the second quarter, HoldingsChannel.com reports. The institutional investor owned 6,889 shares of the company’s stock after selling 26,770 shares during the quarter. Envestnet Portfolio Solutions Inc.’s holdings in FOX were worth $237,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. PGGM Investments lifted its position in FOX by 25.1% during the second quarter. PGGM Investments now owns 48,096 shares of the company’s stock worth $1,653,000 after buying an additional 9,636 shares during the period. Friedenthal Financial purchased a new position in shares of FOX during the 2nd quarter worth about $51,000. Livforsakringsbolaget Skandia Omsesidigt boosted its position in shares of FOX by 4.6% in the second quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 154,500 shares of the company’s stock worth $5,309,000 after acquiring an additional 6,800 shares during the last quarter. Czech National Bank grew its holdings in FOX by 4.6% in the second quarter. Czech National Bank now owns 44,048 shares of the company’s stock valued at $1,514,000 after purchasing an additional 1,949 shares during the period. Finally, SG Americas Securities LLC increased its position in FOX by 120.6% during the second quarter. SG Americas Securities LLC now owns 111,082 shares of the company’s stock worth $3,818,000 after purchasing an additional 60,728 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $41.01 on Friday. The company’s fifty day moving average price is $36.80 and its two-hundred day moving average price is $33.26. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. The firm has a market capitalization of $19.14 billion, a P/E ratio of 12.86, a P/E/G ratio of 1.51 and a beta of 0.77. Fox Co. has a 12 month low of $28.28 and a 12 month high of $41.16.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. FOX’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the business posted $0.88 earnings per share. On average, research analysts anticipate that Fox Co. will post 3.33 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 paid a $0.27 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Wednesday, September 4th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is 16.93%.

Wall Street Analysts Forecast Growth

A number of equities analysts have weighed in on the stock. Evercore ISI lifted their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price target on FOX from $39.00 to $42.00 and gave the company a “buy” rating in a research report on Wednesday, August 7th. Rosenblatt Securities raised their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Bank of America raised shares of FOX from a “neutral” rating to a “buy” rating and increased their target price for the stock from $34.00 to $40.00 in a research report on Thursday, May 9th. Nine research analysts have rated the stock with a hold rating and six have given a buy rating to the stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus price target of $38.23.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction that occurred 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 directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction that occurred on Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the transaction, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. 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 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.