nVerses Capital LLC Buys 6,100 Shares of Fox Co. (NASDAQ:FOXA)

nVerses Capital LLC grew its stake in Fox Co. (NASDAQ:FOXA) by 31.0% in the third quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 25,800 shares of the company’s stock after acquiring an additional 6,100 shares during the quarter. FOX accounts for 0.5% of nVerses Capital LLC’s holdings, making the stock its 13th biggest position. nVerses Capital LLC’s holdings in FOX were worth $1,092,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. lifted its holdings in shares of FOX by 5.9% during the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after purchasing an additional 1,653,913 shares in the last quarter. Independent Franchise Partners LLP lifted its stake in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares in the last quarter. LSV Asset Management raised its holdings in shares of FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after acquiring an additional 481,267 shares during the period. Dimensional Fund Advisors LP lifted its position in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after acquiring an additional 268,778 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. boosted its stake in FOX by 25.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after purchasing an additional 492,467 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

Shares of FOX stock traded up $0.09 during midday trading on Thursday, hitting $42.17. 179,354 shares of the company traded hands, compared to its average volume of 2,982,669. Fox Co. has a 12 month low of $28.28 and a 12 month high of $42.63. The stock has a market cap of $19.68 billion, a price-to-earnings ratio of 13.19, a PEG ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The firm’s fifty day moving average price is $40.78 and its 200-day moving average price is $36.27.

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. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm’s revenue was up 2.0% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.88 earnings per share. As a group, sell-side analysts forecast that Fox Co. will post 3.69 earnings per share for the current year.

FOX Increases Dividend

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

Analysts Set New Price Targets

A number of analysts have recently commented on FOXA shares. Loop Capital boosted 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. Wells Fargo & Company upgraded shares of FOX from an “underweight” rating to an “overweight” rating and lifted their price objective for the company from $29.00 to $46.00 in a report on Friday, August 16th. Evercore ISI lifted their price target on shares of FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a research note on Wednesday, August 7th. Macquarie raised their price objective on FOX from $32.00 to $35.00 and gave the company a “neutral” rating in a report on Monday, August 12th. Finally, Barclays upped their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. One equities research 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’s stock. According to MarketBeat.com, FOX has a consensus rating of “Hold” and a consensus target price of $41.08.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. In other FOX news, COO John Nallen sold 52,874 shares of the 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 transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents 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 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.