IFM Investors Pty Ltd Has $2.47 Million Stock Position in Fox Co. (NASDAQ:FOXA)

IFM Investors Pty Ltd lowered its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.9% in the third quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 58,408 shares of the company’s stock after selling 1,734 shares during the period. IFM Investors Pty Ltd’s holdings in FOX were worth $2,472,000 as of its most recent filing with the SEC.

Other institutional investors also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV raised its holdings 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 buying an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in FOX in the 2nd quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX in the 2nd quarter worth about $52,000. Meeder Asset Management Inc. acquired a new position in FOX in the 1st quarter worth about $66,000. Finally, Covestor Ltd increased its holdings in FOX by 283.0% in the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after purchasing an additional 2,128 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

FOXA has been the subject of a number of recent research reports. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Rosenblatt Securities upped their target price 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 upped their target price on FOX from $42.00 to $44.00 and gave the stock a “buy” rating in a report on Wednesday, August 7th. JPMorgan Chase & Co. upped their target price on FOX from $38.00 to $41.00 and gave the stock a “neutral” rating in a report on Wednesday, September 25th. Finally, Guggenheim upped their price target on FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research report on Tuesday, September 24th. 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. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $41.08.

Insiders Place Their Bets

In other FOX news, 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In other FOX news, 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction 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 approximately $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

Shares of FOX stock opened at $41.71 on Monday. Fox Co. has a one year low of $28.28 and a one year high of $42.85. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The stock’s 50-day moving average is $41.19 and its 200 day moving average is $36.84. The firm has a market cap of $19.20 billion, a price-to-earnings ratio of 13.33, a PEG ratio of 1.92 and a beta of 0.76.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm’s revenue for the quarter was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the company earned $0.88 EPS. Equities research analysts anticipate that Fox Co. will post 3.69 EPS for the current year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.27 dividend. The ex-dividend date was Wednesday, September 4th. This represents a yield of 1.4%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is presently 17.25%.

About FOX

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.