Alliancebernstein L.P. Has $14.34 Million Stock Holdings in Fox Corporation $FOXA

Key Points

• AllianceBernstein L.P. has reduced its stake in Fox Corporation by 4.2%, now holding 253,358 shares valued at approximately $14.34 million.
• Fox Corporation announced a dividend increase to $0.28 per share, which will be distributed to shareholders on September 24, representing a significant jump from the previous dividend of $0.18.
• Analysts have mixed sentiments on Fox stock, with a consensus price target of $56.47, including upgrades and downgrades by several major firms.

Alliancebernstein L.P. decreased its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 4.2% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 253,358 shares of the company's stock after selling 11,075 shares during the quarter. Alliancebernstein L.P. owned 0.06% of FOX worth $14,340,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Hemington Wealth Management boosted its position in FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares during the period. MV Capital Management Inc. boosted its position in FOX by 929.9% during the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the period. Zions Bancorporation National Association UT acquired a new position in FOX during the 1st quarter valued at approximately $40,000. Sentry Investment Management LLC acquired a new position in FOX during the 1st quarter valued at approximately $43,000. Finally, Allworth Financial LP increased its stake in shares of FOX by 55.2% in the first 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 and hedge funds own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the topic of several analyst reports. Guggenheim restated a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Morgan Stanley set a $65.00 price target on FOX in a research report on Tuesday, September 9th. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, Bank of America upped their price objective on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, FOX presently has a consensus rating of "Hold" and a consensus target price of $56.47.

FOX Price Performance

Shares of FOX stock traded up $1.75 during trading on Wednesday, hitting $59.22. The stock had a trading volume of 4,669,038 shares, compared to its average volume of 3,248,654. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The firm has a market cap of $26.38 billion, a P/E ratio of 12.06, a PEG ratio of 1.38 and a beta of 0.52. The business has a fifty day moving average of $57.56 and a two-hundred day moving average of $54.69. Fox Corporation has a fifty-two week low of $40.20 and a fifty-two week high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company's revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm posted $0.90 earnings per share. On average, sell-side analysts expect that Fox Corporation will post 4.38 earnings per share 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 given a dividend of $0.28 per share. This represents a dividend yield of 93.0%. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is presently 11.41%.

FOX Company 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.