Allspring Global Investments Holdings LLC Sells 255,039 Shares of Fox Co. (NASDAQ:FOXA)

Allspring Global Investments Holdings LLC lessened its position in shares of Fox Co. (NASDAQ:FOXA) by 25.8% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 732,405 shares of the company’s stock after selling 255,039 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FOX were worth $31,003,000 as of its most recent filing with the Securities and Exchange Commission.

Several other institutional investors and hedge funds have also bought and sold shares of the company. Wellington Management Group LLP increased its position in shares of FOX by 76.6% in the fourth quarter. Wellington Management Group LLP now owns 160,537 shares of the company’s stock worth $4,763,000 after purchasing an additional 69,609 shares during the last quarter. Park Avenue Securities LLC raised its stake in shares of FOX by 1.7% during the first quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock worth $591,000 after acquiring an additional 324 shares in the last quarter. Brookstone Capital Management lifted its holdings in shares of FOX by 4.7% in the 1st quarter. Brookstone Capital Management now owns 23,319 shares of the company’s stock worth $729,000 after acquiring an additional 1,054 shares during the last quarter. Norden Group LLC purchased a new stake in shares of FOX in the 1st quarter valued at $2,379,000. Finally, Mirae Asset Global Investments Co. Ltd. boosted its position 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 buying an additional 30,866 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction that occurred 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 completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, 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 filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction dated 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 in the company, valued at approximately $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. 21.77% of the stock is owned by company insiders.

Wall Street Analysts Forecast Growth

A number of equities analysts have commented on FOXA shares. Cfra reaffirmed a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. Rosenblatt Securities boosted their price objective on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Wells Fargo & Company raised shares of FOX from an “underweight” rating to an “overweight” rating and increased their price target for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. Finally, Evercore ISI lifted their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research report on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average price target of $41.08.

FOX Stock Performance

Shares of FOXA opened at $41.86 on Thursday. 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 12 month low of $28.28 and a 12 month high of $42.85. The company has a market cap of $19.54 billion, a price-to-earnings ratio of 13.12, a P/E/G ratio of 1.90 and a beta of 0.76. The business’s fifty day simple moving average is $41.09 and its two-hundred day simple moving average is $36.65.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share 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 firm 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 earnings per share. The firm’s quarterly revenue was up 2.0% on a year-over-year basis. Research analysts anticipate that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.27 dividend. This is an increase from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is 16.93%.

FOX 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.