Contravisory Investment Management Inc. Takes $531,000 Position in Fox Co. (NASDAQ:FOXA)

Contravisory Investment Management Inc. purchased a new stake in Fox Co. (NASDAQ:FOXA) during the 3rd quarter, Holdings Channel.com reports. The institutional investor purchased 12,538 shares of the company’s stock, valued at approximately $531,000.

A number of other large investors have also recently bought and sold shares of the company. Massmutual Trust Co. FSB ADV raised its holdings in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the last quarter. UMB Bank n.a. increased its position in shares of FOX by 254.4% during the first quarter. UMB Bank n.a. now owns 1,127 shares of the company’s stock valued at $35,000 after buying an additional 809 shares during the period. Friedenthal Financial purchased a new position in shares of FOX during the second quarter worth about $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX in the second quarter worth approximately $52,000. Finally, Meeder Asset Management Inc. purchased a new stake in FOX in the first quarter worth approximately $66,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

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

FOX Stock Performance

NASDAQ:FOXA opened at $41.35 on Friday. Fox Co. has a 1-year low of $28.28 and a 1-year high of $42.63. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. The stock has a market cap of $19.03 billion, a P/E ratio of 13.21, a PEG ratio of 1.90 and a beta of 0.76. The firm has a 50-day moving average of $40.41 and a two-hundred day moving average of $35.89.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. The business had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company’s quarterly revenue was up 2.0% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.88 earnings per share. On average, research analysts expect that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

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

Analysts Set New Price Targets

A number of equities analysts recently commented on FOXA shares. Barclays upped their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday. Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and raised their price objective for the stock from $29.00 to $46.00 in a research note on Friday, August 16th. Macquarie raised their price target on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Bank of America lifted their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. One equities research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the company has an average rating of “Hold” and an average price target 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 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.