Scotia Capital Inc. Makes New Investment in Fox Corporation (NASDAQ:FOXA)

Scotia Capital Inc. acquired a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm acquired 22,918 shares of the company's stock, valued at approximately $1,297,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. LPL Financial LLC lifted its stake in FOX by 133.8% in the 4th quarter. LPL Financial LLC now owns 43,791 shares of the company's stock valued at $2,127,000 after buying an additional 25,060 shares in the last quarter. CIBC Private Wealth Group LLC lifted its position in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after acquiring an additional 368 shares in the last quarter. Resona Asset Management Co. Ltd. acquired a new stake in shares of FOX in the fourth quarter worth approximately $3,372,000. FMR LLC boosted its stake in shares of FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after acquiring an additional 1,330,908 shares during the last quarter. Finally, Bank of Montreal Can increased its position in shares of FOX by 1.6% during the fourth quarter. Bank of Montreal Can now owns 186,902 shares of the company's stock worth $9,080,000 after purchasing an additional 2,975 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Trading Down 0.6%

Shares of FOXA stock traded down $0.33 during trading hours on Thursday, hitting $53.87. The company had a trading volume of 3,329,354 shares, compared to its average volume of 3,464,431. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.33. The stock has a market capitalization of $24.22 billion, a PE ratio of 10.97, a price-to-earnings-growth ratio of 1.19 and a beta of 0.54. The company's fifty day moving average is $55.40 and its 200 day moving average is $53.65. Fox Corporation has a fifty-two week low of $38.52 and a fifty-two week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the previous year, the company earned $0.90 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. Research analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This is a positive change from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.00%.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of recent research reports. Loop Capital increased their target price on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Bank of America raised their target price on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley boosted their target price on FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Finally, Cowen reissued a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. One investment analyst has rated the stock with a sell rating, eleven have issued a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and an average target price of $53.82.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the sale, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.77% of the stock is owned by company insiders.

About FOX

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.