Los Angeles Capital Management LLC Sells 159,586 Shares of Fox Co. (NASDAQ:FOXA)

Los Angeles Capital Management LLC lowered its stake in Fox Co. (NASDAQ:FOXA) by 90.1% during the 2nd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 17,488 shares of the company’s stock after selling 159,586 shares during the period. Los Angeles Capital Management LLC’s holdings in FOX were worth $601,000 at the end of the most recent reporting period.

Other hedge funds have also added to or reduced their stakes in the company. Principal Securities Inc. purchased a new position in shares of FOX during the fourth quarter valued at about $156,000. Dimensional Fund Advisors LP grew its holdings in shares of FOX by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,391,117 shares of the company’s stock worth $100,618,000 after acquiring an additional 51,942 shares during the period. Vanguard Personalized Indexing Management LLC raised its position in shares of FOX by 107.3% in the 4th quarter. Vanguard Personalized Indexing Management LLC now owns 33,220 shares of the company’s stock worth $986,000 after acquiring an additional 17,198 shares in the last quarter. Fiera Capital Corp purchased a new position in shares of FOX in the 4th quarter valued at approximately $516,000. Finally, Mizuho Markets Americas LLC bought a new stake in shares of FOX during the fourth quarter valued at approximately $9,110,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of FOXA opened at $39.66 on Friday. The firm has a fifty day simple moving average of $38.68 and a two-hundred day simple moving average of $34.35. The firm has a market cap of $18.25 billion, a PE ratio of 12.43, a P/E/G ratio of 1.78 and a beta of 0.76. 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 Co. has a 1-year low of $28.28 and a 1-year high of $41.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. FOX’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 business earned $0.88 earnings per share. On average, equities analysts anticipate that Fox Co. will post 3.72 EPS for the current 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%. The ex-dividend date is Wednesday, September 4th. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. FOX’s dividend payout ratio is 16.93%.

Insider Activity at FOX

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

Analyst Ratings Changes

A number of equities analysts have issued reports on the company. Rosenblatt Securities increased their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $39.00 to $42.00 and gave the stock a “buy” rating in a research note on Wednesday, August 7th. Macquarie upped their price objective on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a report on Monday, August 12th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and upped their price target for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. Ten investment analysts have rated the stock with a hold rating and five have issued a buy rating to the stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $38.23.

FOX 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.