58,800 Shares in Fox Corporation $FOXA Bought by Zurich Insurance Group Ltd FI

Key Points

• Zurich Insurance Group Ltd FI acquired 58,800 shares of Fox Corporation ($FOXA), valued at approximately $3.33 million, in the first quarter.
• Fox Corporation reported an earnings per share (EPS) of $1.27, exceeding expectations of $1.01, and a year-over-year revenue increase of 6.3% to $3.29 billion.
• The company recently increased its dividend to $0.28 per share, up from $0.18, with the dividend yield currently at 93.0%.

Zurich Insurance Group Ltd FI bought a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 58,800 shares of the company's stock, valued at approximately $3,328,000.

Other institutional investors have also recently bought and sold shares of the company. Hemington Wealth Management lifted its stake in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after acquiring an additional 359 shares in the last quarter. MV Capital Management Inc. increased its position in shares of FOX by 929.9% during the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of FOX during the 1st quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new position in shares of FOX during the 1st quarter worth approximately $43,000. Finally, Allworth Financial LP boosted its stake in FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after purchasing an additional 280 shares during the period. Institutional investors own 52.52% of the company's stock.

FOX Trading Down 0.0%

NASDAQ FOXA traded down $0.02 during trading hours on Monday, hitting $58.23. 1,223,026 shares of the company's stock were exchanged, compared to its average volume of 3,880,996. The stock has a 50-day simple moving average of $57.36 and a 200 day simple moving average of $54.63. Fox Corporation has a 1-year low of $39.35 and a 1-year high of $62.69. The firm has a market cap of $25.94 billion, a price-to-earnings ratio of 11.87, a PEG ratio of 1.40 and a beta of 0.52. 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 posted 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. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter last year, the firm posted $0.90 EPS. FOX's revenue was up 6.3% compared to the same quarter last year. On average, equities analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

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

Analysts Set New Price Targets

Several analysts recently issued reports on FOXA shares. UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley set a $65.00 price objective on FOX in a research report on Tuesday, September 9th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Guggenheim reaffirmed a "buy" rating and issued a $62.00 target price (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their target price on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus price target of $56.47.

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.