26,143 Shares in Fox Corporation $FOX Purchased by Plato Investment Management Ltd

Key Points

• Plato Investment Management acquired 26,143 Fox Corporation shares worth approximately $1.26 million during the second quarter. Institutional investors collectively own 26.41% of FOX.
• FOX reported quarterly EPS of $1.79, exceeding the $1.44 consensus estimate, while revenue reached $4.21 billion versus expectations of $3.64 billion.
• Analyst sentiment is broadly positive, with FOX holding a consensus “Buy” rating and a $76 price target; Wells Fargo and JPMorgan recently upgraded the stock and raised their targets.

Plato Investment Management Ltd acquired a new stake in shares of Fox Corporation (NASDAQ:FOX - Free Report) during the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor acquired 26,143 shares of the company's stock, valued at approximately $1,261,000.

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOX. Versant Capital Management Inc raised its position in shares of 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 purchasing an additional 251 shares during the period. Baird Financial Group Inc. grew its stake in FOX by 1.1% in the 2nd quarter. Baird Financial Group Inc. now owns 31,707 shares of the company's stock valued at $1,637,000 after buying an additional 343 shares in the last quarter. Brown Brothers Harriman & Co. raised its holdings in FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock valued at $35,000 after acquiring an additional 475 shares during the period. Arlington Partners LLC lifted its position in shares of FOX by 12.4% during the second quarter. Arlington Partners LLC now owns 5,054 shares of the company's stock worth $237,000 after acquiring an additional 556 shares in the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its position in shares of FOX by 4.9% during the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company's stock worth $656,000 after acquiring an additional 586 shares in the last quarter. Institutional investors own 26.41% of the company's stock.

FOX Stock Performance

Shares of FOX opened at $61.49 on Tuesday. 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. The company has a market cap of $25.80 billion, a PE ratio of 16.05, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The stock has a 50-day moving average price of $51.51 and a 200-day moving average price of $54.33.

FOX (NASDAQ:FOX - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. As a group, equities analysts forecast that Fox Corporation will post 5.89 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a $0.29 dividend. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 105.0%. FOX's payout ratio is 14.62%.

Analyst Upgrades and Downgrades

A number of analysts recently issued reports on FOX shares. Citigroup reissued a "buy" rating on shares of FOX in a report on Friday, July 17th. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a report on Thursday, July 30th. Wells Fargo & Company upgraded shares of FOX from a "hold" rating to an "overweight" rating and set a $80.00 price objective for the company in a research report on Friday. JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and upped their target price for the stock from $70.00 to $82.00 in a report on Friday. Finally, Weiss Ratings cut shares of FOX from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday, July 20th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, FOX has a consensus rating of "Buy" and a consensus price target of $76.00.

FOX Company Profile

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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