Louisiana State Employees Retirement System Has $450,000 Position in Fox Co. (NASDAQ:FOXA)

Louisiana State Employees Retirement System lowered its holdings in shares of Fox Co. (NASDAQ:FOXA) by 5.8% during the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 13,100 shares of the company’s stock after selling 800 shares during the quarter. Louisiana State Employees Retirement System’s holdings in FOX were worth $450,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Mitsubishi UFJ Trust & Banking Corp grew its holdings in shares of FOX by 31.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after buying an additional 117,458 shares in the last quarter. Quest Partners LLC bought a new position in shares of FOX during the fourth quarter worth about $1,796,000. Jane Street Group LLC grew its holdings in shares of FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after buying an additional 28,072 shares in the last quarter. Scout Investments Inc. grew its holdings in shares of FOX by 102.0% during the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock worth $6,227,000 after buying an additional 105,960 shares in the last quarter. Finally, Hsbc Holdings PLC grew its holdings in shares of FOX by 99.9% during the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after buying an additional 326,254 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of research analysts recently issued reports on FOXA shares. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and increased their price objective for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Macquarie raised their price target on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. The Goldman Sachs Group raised their price target on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Rosenblatt Securities lifted their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and lifted their price target for the stock from $29.00 to $46.00 in a report on Friday, August 16th. Nine investment analysts have rated the stock with a hold rating and six have issued a buy rating to the stock. According to data from MarketBeat, FOX has a consensus rating of “Hold” and a consensus target price of $38.23.

Insider Buying and Selling

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The acquisition was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. Also, 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 sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The disclosure for this sale can be found here. 21.77% of the stock is owned by company insiders.

FOX Trading Up 0.7 %

Shares of FOXA stock opened at $41.37 on Friday. The firm has a market capitalization of $19.31 billion, a P/E ratio of 12.97, a P/E/G ratio of 1.51 and a beta of 0.77. Fox Co. has a twelve month low of $28.28 and a twelve month high of $41.42. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The stock’s fifty day simple moving average is $37.53 and its 200 day simple moving average is $33.65.

FOX (NASDAQ:FOXA) last released 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 for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. The business’s revenue was up 2.0% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.88 EPS. As a group, sell-side analysts predict that Fox Co. will post 3.33 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed 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%. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s payout ratio is currently 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.