Strs Ohio Buys Shares of 419,201 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 bought a new position 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. The fund bought 419,201 shares of the company's stock, valued at approximately $23,727,000. Strs Ohio owned approximately 0.09% of FOX at the end of the most recent reporting period.

Other institutional investors and hedge funds have also modified their holdings of the company. CWM LLC boosted its holdings in shares of FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after acquiring an additional 527 shares in the last quarter. Sequoia Financial Advisors LLC boosted its holdings in shares of FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after acquiring an additional 464 shares in the last quarter. Private Trust Co. NA boosted its holdings in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of FOX in the 1st quarter worth approximately $420,000. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of FOX by 152.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after acquiring an additional 19,181 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Trading Up 0.9%

Shares of FOX stock traded up $0.52 on Monday, hitting $58.77. 4,956,144 shares of the company's stock traded hands, compared to its average volume of 3,022,711. The firm's 50-day moving average price is $57.43 and its two-hundred day moving average price is $54.64. The stock has a market capitalization of $26.18 billion, a PE ratio of 11.97, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. Fox Corporation has a one year low of $39.35 and a one year high of $62.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76.

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

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. This represents a yield of 93.0%. FOX's payout ratio is presently 11.41%.

Wall Street Analysts Forecast Growth

Several research firms recently weighed in on FOXA. Guggenheim restated a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Wells Fargo & Company boosted their price objective on shares of FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Finally, Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat, the stock currently has a consensus rating of "Hold" and an average price target of $56.47.

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.