Strs Ohio Takes $23.73 Million Position in Fox Corporation $FOXA

Key Points

• Strs Ohio acquired 419,201 shares of Fox Corporation (NASDAQ: FOXA) worth approximately $23.7 million during the first quarter, which represents about 0.09% of the company's stock.
• Fox Corporation has announced a dividend increase of 55.6%, raising its payout from $0.18 to $0.28 per share, with a payment date set for September 24th.
• In recent earnings, Fox reported an EPS of $1.27, exceeding expectations and showing a 6.3% year-over-year revenue increase with a total revenue of $3.29 billion.

Strs Ohio acquired a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor acquired 419,201 shares of the company's stock, valued at approximately $23,727,000. Strs Ohio owned 0.09% of FOX as of its most recent filing with the SEC.

Several other large investors have also recently added to or reduced their stakes in the stock. Acadian Asset Management LLC increased its stake in FOX by 19,428.9% in the 1st quarter. Acadian Asset Management LLC now owns 179,080 shares of the company's stock valued at $10,129,000 after buying an additional 178,163 shares during the period. Geneos Wealth Management Inc. grew its position in FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock worth $52,000 after acquiring an additional 621 shares in the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its position in FOX by 1.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company's stock worth $153,331,000 after acquiring an additional 32,144 shares in the last quarter. Zurich Insurance Group Ltd FI bought a new stake in FOX in the first quarter worth approximately $3,328,000. Finally, Ascent Group LLC bought a new stake in FOX in the first quarter worth approximately $488,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts have commented on the stock. Morgan Stanley set a $65.00 target price on shares of FOX in a research report on Tuesday, September 9th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Finally, Wells Fargo & Company upped their price objective on shares of FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, the company has a consensus rating of "Hold" and an average target price of $56.47.

FOX Stock Performance

NASDAQ:FOXA traded up $0.94 during trading hours on Thursday, hitting $60.16. 1,856,073 shares of the company traded hands, compared to its average volume of 3,896,613. The stock has a market capitalization of $26.80 billion, a price-to-earnings ratio of 12.26, a P/E/G ratio of 1.38 and a beta of 0.52. Fox Corporation has a twelve month low of $40.20 and a twelve month high of $62.69. The firm has a 50-day moving average of $57.56 and a 200 day moving average of $54.69. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company earned $0.90 EPS. On average, analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio is currently 11.41%.

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.