APG Asset Management N.V. Sells 7,600 Shares of Fox Corporation $FOXA

Key Points

• APG Asset Management N.V. reduced its stake in Fox Corporation by 6.0%, ending the first quarter with a total of 119,300 shares valued at $6.25 million.
• Fox Corporation's latest earnings report showed an EPS of $1.27, surpassing estimates by $0.26, with revenues hitting $3.29 billion.
• The company increased its dividend from $0.18 to $0.28, benefiting shareholders of record on September 3rd.

APG Asset Management N.V. trimmed its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 6.0% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 119,300 shares of the company's stock after selling 7,600 shares during the quarter. APG Asset Management N.V.'s holdings in FOX were worth $6,251,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Hemington Wealth Management boosted its position in shares of FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after purchasing an additional 359 shares in the last quarter. MV Capital Management Inc. boosted its position in shares of FOX by 929.9% during the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in shares of FOX during the first quarter worth $40,000. Sentry Investment Management LLC bought a new position in shares of FOX during the first quarter worth $43,000. Finally, Allworth Financial LP boosted its position in shares of FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Stock Performance

Shares of FOXA traded up $0.24 during midday trading on Friday, reaching $59.70. The stock had a trading volume of 2,455,317 shares, compared to its average volume of 3,684,529. The firm has a 50 day simple moving average of $56.61 and a 200-day simple moving average of $54.42. Fox Corporation has a one year low of $38.72 and a one year high of $60.24. The firm has a market cap of $26.60 billion, a PE ratio of 12.16, a P/E/G ratio of 1.43 and a beta of 0.54. 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 announced its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. FOX's revenue was up 6.3% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.90 EPS. As a group, sell-side analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a yield of 94.0%. This is an increase from FOX's previous dividend of $0.18. FOX's payout ratio is presently 11.41%.

Wall Street Analyst Weigh In

A number of brokerages recently commented on FOXA. 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. Bank of America raised 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. Loop Capital lifted their price target on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company lifted their price target on shares of FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Finally, Guggenheim reiterated a "buy" rating and issued a $62.00 price target (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of "Hold" and a consensus target price of $56.20.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. 21.77% of the stock is owned by corporate insiders.

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.