Fox Co. (NASDAQ:FOXA) Stake Raised by Livforsakringsbolaget Skandia Omsesidigt

Livforsakringsbolaget Skandia Omsesidigt increased its holdings in Fox Co. (NASDAQ:FOXA) by 15.2% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 127,500 shares of the company’s stock after buying an additional 16,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FOX were worth $4,334,000 at the end of the most recent reporting period.

Other large investors have also recently added to or reduced their stakes in the company. State Street Corp grew its stake in shares of FOX by 0.7% in the first quarter. State Street Corp now owns 13,742,042 shares of the company’s stock worth $467,914,000 after purchasing an additional 102,146 shares in the last quarter. Ninety One UK Ltd grew its position in FOX by 1.8% in the 1st quarter. Ninety One UK Ltd now owns 11,988,977 shares of the company’s stock valued at $408,225,000 after buying an additional 207,618 shares in the last quarter. Ameriprise Financial Inc. increased its stake in FOX by 16.0% during the 1st quarter. Ameriprise Financial Inc. now owns 7,591,641 shares of the company’s stock valued at $258,495,000 after buying an additional 1,046,137 shares during the period. Invesco Ltd. lifted its stake in shares of FOX by 16.0% in the 1st quarter. Invesco Ltd. now owns 4,617,824 shares of the company’s stock worth $182,174,000 after acquiring an additional 637,439 shares during the period. Finally, Bank of America Corp DE boosted its holdings in shares of FOX by 15.1% in the first quarter. Bank of America Corp DE now owns 4,245,723 shares of the company’s stock valued at $144,567,000 after acquiring an additional 555,423 shares in the last quarter. 55.93% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Up 1.3 %

NASDAQ:FOXA traded up $0.41 during trading hours on Thursday, hitting $31.79. 512,202 shares of the company’s stock traded hands, compared to its average volume of 3,620,842. Fox Co. has a twelve month low of $28.01 and a twelve month high of $37.26. The firm has a market cap of $15.55 billion, a P/E ratio of 13.53, a P/E/G ratio of 1.05 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.78 and a current ratio of 1.93. The stock’s fifty day moving average price is $33.08 and its two-hundred day moving average price is $33.06.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, August 8th. The company reported $0.88 earnings per share for the quarter, beating analysts’ consensus estimates of $0.71 by $0.17. The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.03 billion. FOX had a return on equity of 16.98% and a net margin of 8.31%. The firm’s quarterly revenue was up .0% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.74 EPS. On average, research analysts expect that Fox Co. will post 3.03 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 27th. Shareholders of record on Wednesday, August 30th will be paid a dividend of $0.26 per share. The ex-dividend date is Tuesday, August 29th. This represents a dividend yield of 1.5%. This is a positive change from FOX’s previous Semi-Annual dividend of $0.25. FOX’s dividend payout ratio (DPR) is 22.41%.

Analyst Ratings Changes

FOXA has been the subject of a number of research analyst reports. Morgan Stanley upped their target price on FOX from $37.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 9th. Credit Suisse Group reaffirmed a “neutral” rating and set a $33.00 target price on shares of FOX in a research note on Wednesday, August 9th. Rosenblatt Securities boosted their price target on shares of FOX from $33.00 to $34.00 and gave the stock a “neutral” rating in a research report on Tuesday, September 5th. StockNews.com began coverage on shares of FOX in a research report on Thursday, August 17th. They set a “hold” rating for the company. Finally, JPMorgan Chase & Co. boosted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “overweight” rating in a report on Wednesday, August 9th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average target price of $36.56.

Insider Activity

In related news, insider Viet D. Dinh sold 231,865 shares of the stock in a transaction on Thursday, August 17th. The stock was sold at an average price of $33.40, for a total transaction of $7,744,291.00. Following the completion of the sale, the insider now directly owns 56,161 shares in the company, valued at $1,875,777.40. The sale was disclosed in a filing with the SEC, which is available through this hyperlink. In other news, insider Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Friday, June 16th. The shares were sold at an average price of $33.62, for a total transaction of $3,362,000.00. Following the transaction, the insider now owns 157,513 shares in the company, valued at approximately $5,295,587.06. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, insider Viet D. Dinh sold 231,865 shares of the firm’s stock in a transaction on Thursday, August 17th. The shares were sold at an average price of $33.40, for a total transaction of $7,744,291.00. Following the transaction, the insider now owns 56,161 shares in the company, valued at approximately $1,875,777.40. The disclosure for this sale can be found here. 19.86% of the stock is currently owned by corporate insiders.

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.