Weaver Capital Management LLC Increases Stake in Fox Co. (NASDAQ:FOXA)

Weaver Capital Management LLC raised its holdings in shares of Fox Co. (NASDAQ:FOXA) by 37.0% during the 3rd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 19,503 shares of the company’s stock after acquiring an additional 5,272 shares during the quarter. Weaver Capital Management LLC’s holdings in FOX were worth $826,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FOXA. Wellington Management Group LLP lifted its position in shares of FOX by 76.6% during the 4th quarter. Wellington Management Group LLP now owns 160,537 shares of the company’s stock valued at $4,763,000 after buying an additional 69,609 shares in the last quarter. Park Avenue Securities LLC increased its stake in shares of FOX by 1.7% in the first quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock worth $591,000 after purchasing an additional 324 shares in the last quarter. Brookstone Capital Management raised its position in shares of FOX by 4.7% during the 1st quarter. Brookstone Capital Management now owns 23,319 shares of the company’s stock valued at $729,000 after purchasing an additional 1,054 shares during the period. Norden Group LLC bought a new position in FOX in the 1st quarter worth $2,379,000. Finally, Mirae Asset Global Investments Co. Ltd. raised its holdings in FOX by 70.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 74,595 shares of the company’s stock valued at $2,378,000 after acquiring an additional 30,866 shares during the period. Institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were 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. This represents a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction 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 directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This trade represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA opened at $42.23 on Wednesday. The stock has a market cap of $19.71 billion, a P/E ratio of 13.24, a PEG ratio of 1.90 and a beta of 0.76. Fox Co. has a 52-week low of $28.28 and a 52-week high of $42.85. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The business has a fifty day moving average of $41.04 and a 200 day moving average of $36.62.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.83 by $0.07. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company earned $0.88 EPS. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. As a group, sell-side analysts anticipate that Fox Co. will post 3.69 EPS for the current year.

FOX Increases Dividend

The company also recently announced a Semi-Annual dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.27 dividend. This represents a dividend yield of 1.4%. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s dividend payout ratio is currently 16.93%.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several recent analyst reports. Rosenblatt Securities lifted their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. JPMorgan Chase & Co. lifted their price target on shares of FOX from $38.00 to $41.00 and gave the company a “neutral” rating in a report on Wednesday, September 25th. Barclays boosted their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Evercore ISI raised their price target on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. Finally, Deutsche Bank Aktiengesellschaft raised their target price on shares of FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. One 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 has an average rating of “Hold” and a consensus target price of $41.08.

FOX Company Profile

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.