Foster & Motley Inc. purchased a new stake in Fox Corporation (NASDAQ:FOX - Free Report) in the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor purchased 177,095 shares of the company's stock, valued at approximately $9,237,000.
A number of other hedge funds and other institutional investors have also made changes to their positions in FOX. Plato Investment Management Ltd purchased a new position in shares of FOX during the 2nd quarter worth $1,261,000. Wedge Capital Management L L P NC purchased a new stake in FOX in the 2nd quarter valued at about $35,047,000. Arlington Partners LLC raised its holdings in FOX by 12.4% in the 2nd quarter. Arlington Partners LLC now owns 5,054 shares of the company's stock valued at $237,000 after buying an additional 556 shares during the period. Versant Capital Management Inc lifted its position in FOX by 42.3% in the second quarter. Versant Capital Management Inc now owns 844 shares of the company's stock valued at $40,000 after buying an additional 251 shares during the last quarter. Finally, Glenmede Trust Co. NA lifted its position in FOX by 143.9% in the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company's stock valued at $143,000 after buying an additional 1,591 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company's stock.
FOX Stock Down 0.4%
Shares of NASDAQ FOX opened at $61.23 on Wednesday. The stock has a market cap of $25.70 billion, a P/E ratio of 15.99, a PEG ratio of 1.69 and a beta of 0.57. The business's fifty day simple moving average is $51.51 and its 200-day simple moving average is $54.30. Fox Corporation has a 12-month low of $44.08 and a 12-month high of $68.18. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56.
FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. As a group, equities analysts predict that Fox Corporation will post 5.89 EPS for the current fiscal year.
FOX Announces Dividend
The company also recently declared a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a yield of 105.0%. The ex-dividend date is Wednesday, September 2nd. FOX's payout ratio is 14.62%.
Analyst Ratings Changes
FOX has been the subject of a number of recent analyst reports. Wells Fargo & Company upgraded shares of FOX from a "hold" rating to an "overweight" rating and set a $80.00 price target for the company in a research report on Friday. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a research report on Thursday, July 30th. Seaport Research Partners downgraded shares of FOX from a "buy" rating to a "hold" rating in a report on Friday, August 7th. Weiss Ratings lowered FOX from a "buy (b)" rating to a "buy (b-)" rating in a research report on Monday, July 20th. Finally, JPMorgan Chase & Co. raised FOX from a "neutral" rating to an "overweight" rating and boosted their target price for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Buy" and an average target price of $76.00.
Read Our Latest Stock Analysis on FOX
FOX Company Profile
(
Free Report)
Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.
FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.
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