AQR Capital Management LLC Has $78.38 Million Holdings in Fox Corporation $FOXA

Key Points

• AQR Capital Management LLC increased its stock holdings in Fox Corporation by 101.6% in Q1, owning approximately $78.4 million worth of shares after purchasing an additional 715,583 shares.
• Several hedge funds significantly increased their positions in Fox Corporation, including Assetmark Inc. which raised its stake by 752.1%, now owning shares valued at $110.5 million.
• Analysts have raised their price targets for FOX stock, with Bank of America lifting theirs from $60.00 to $65.00 and maintaining a "buy" rating, while Wells Fargo increased from $62.00 to $66.00.

AQR Capital Management LLC boosted its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 101.6% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 1,420,195 shares of the company's stock after buying an additional 715,583 shares during the quarter. AQR Capital Management LLC owned approximately 0.31% of FOX worth $78,381,000 as of its most recent SEC filing.

A number of other hedge funds have also recently bought and sold shares of the company. CWM LLC raised its position in shares of FOX by 8.6% during the first quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after acquiring an additional 527 shares during the last quarter. Sequoia Financial Advisors LLC raised its holdings in FOX by 7.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA lifted its position in FOX by 86.5% during the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after purchasing an additional 431 shares during the period. HB Wealth Management LLC acquired a new position in FOX during the 1st quarter valued at about $420,000. Finally, Janney Montgomery Scott LLC boosted its stake 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 valued at $1,800,000 after purchasing an additional 19,181 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts recently weighed in on FOXA shares. Morgan Stanley set a $65.00 price target on shares of FOX in a research note on Tuesday. Bank of America upped their target price on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Guggenheim reaffirmed a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. 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. Based on data from MarketBeat.com, FOX has an average rating of "Hold" and a consensus target price of $56.47.

FOX Stock Up 2.7%

Shares of FOXA stock traded up $1.54 during trading hours on Thursday, hitting $58.73. 5,408,471 shares of the company were exchanged, compared to its average volume of 2,997,315. Fox Corporation has a 52 week low of $38.72 and a 52 week high of $62.69. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average of $57.32 and a two-hundred day moving average of $54.65. The company has a market capitalization of $26.17 billion, a PE ratio of 11.96, a PEG ratio of 1.37 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating the consensus estimate of $1.01 by $0.26. The business had revenue of $3.29 billion for 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 firm's revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.90 EPS. Analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed 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 is an increase from FOX's previous dividend of $0.18. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is currently 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.