Fox Co. (NASDAQ:FOXA) Stock Position Cut by Hartford Investment Management Co.

Hartford Investment Management Co. trimmed its stake in shares of Fox Co. (NASDAQ:FOXA) by 9.3% during the third quarter, Holdings Channel reports. The institutional investor owned 13,659 shares of the company’s stock after selling 1,399 shares during the period. Hartford Investment Management Co.’s holdings in FOX were worth $578,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV lifted its holdings in shares of FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares during the period. Friedenthal Financial bought a new stake in FOX in the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX in the second quarter worth about $52,000. Meeder Asset Management Inc. acquired a new stake in FOX in the 1st quarter valued at about $66,000. Finally, Covestor Ltd boosted its position in shares of FOX by 283.0% during the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after purchasing an additional 2,128 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FOXA has been the subject of several recent research reports. Macquarie increased their target price on shares of FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a research note on Monday, August 12th. Deutsche Bank Aktiengesellschaft upped their price target on FOX from $39.00 to $42.00 and gave the company a “buy” rating in a report on Wednesday, August 7th. Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Rosenblatt Securities upped their price target on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and upped their price target for the company from $29.00 to $46.00 in a report on Friday, August 16th. One investment analyst has rated the stock with a sell rating, eight have issued a hold rating and seven have assigned a buy rating to the company’s stock. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $41.08.

Insider Activity

In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available at this link. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of 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 trade represents a 0.00 % increase in their position. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, 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 transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now 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 disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $41.71 on Friday. The company’s fifty day moving average is $41.19 and its two-hundred day moving average is $36.76. The company has a quick ratio of 2.33, a current ratio of 2.54 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 $19.20 billion, a P/E ratio of 13.33, a price-to-earnings-growth ratio of 1.92 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly 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. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the company posted $0.88 EPS. FOX’s revenue was up 2.0% on a year-over-year basis. Equities analysts expect that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.27 per share. This is a boost from FOX’s previous Semi-Annual dividend of $0.26. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 4th. FOX’s payout ratio is currently 17.25%.

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.