Fox Co. (NASDAQ:FOXA) Shares Sold by Ritholtz Wealth Management

Ritholtz Wealth Management cut its holdings in Fox Co. (NASDAQ:FOXA) by 18.2% in the 2nd quarter, HoldingsChannel reports. The institutional investor owned 5,990 shares of the company’s stock after selling 1,336 shares during the period. Ritholtz Wealth Management’s holdings in FOX were worth $206,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of the company. Park Avenue Securities LLC boosted its stake in FOX by 1.7% during the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after purchasing an additional 324 shares during the period. Bessemer Group Inc. boosted its stake in FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after purchasing an additional 326 shares during the period. Global Retirement Partners LLC boosted its stake in FOX by 38.4% during the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after purchasing an additional 362 shares during the period. Raymond James Trust N.A. raised its position in shares of FOX by 4.4% during the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock worth $333,000 after buying an additional 406 shares in the last quarter. Finally, Linden Thomas Advisory Services LLC raised its position in shares of FOX by 0.9% during the 2nd quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after buying an additional 453 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Insiders Place Their Bets

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 stock was 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction 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 in the company, valued at $9,717,559.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Stock Down 0.3 %

FOXA opened at $40.31 on Friday. Fox Co. has a 1-year low of $28.28 and a 1-year high of $41.58. The business has a 50 day moving average of $38.18 and a 200-day moving average of $34.01. The stock has a market capitalization of $18.81 billion, a price-to-earnings ratio of 12.64, a P/E/G ratio of 1.86 and a beta of 0.77. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates 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 the consensus estimate of $3.10 billion. The business’s revenue was up 2.0% on a year-over-year basis. During the same period in the prior year, the firm earned $0.88 EPS. As a group, sell-side analysts anticipate that Fox Co. will post 3.72 earnings per share for the current year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a dividend of $0.27 per share. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s payout ratio is currently 16.93%.

Wall Street Analyst Weigh In

A number of analysts have commented on the stock. Rosenblatt Securities boosted their price target on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $46.00 in a research report on Friday, August 16th. The Goldman Sachs Group boosted their target price on shares of FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $36.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft boosted their price target on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Nine equities research analysts have rated the stock with a hold rating and six have assigned a buy rating to the company’s stock. According to data from MarketBeat, the stock currently has an average rating of “Hold” and an average target price of $38.23.

FOX Company 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.