Aragon Global Management LP bought a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to its most recent disclosure with the SEC. The fund bought 29,032 shares of the company's stock, valued at approximately $1,643,000. FOX makes up approximately 0.6% of Aragon Global Management LP's portfolio, making the stock its 21st biggest holding.
Other institutional investors also recently bought and sold shares of the company. Hemington Wealth Management grew its position 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. grew 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 buying an additional 623 shares in the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of FOX during the first quarter worth about $40,000. Sentry Investment Management LLC acquired a new position in shares of FOX during the first quarter worth about $43,000. Finally, Allworth Financial LP grew 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 buying an additional 280 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.
FOX Stock Performance
Shares of FOXA opened at $59.46 on Friday. The stock has a 50 day moving average price of $56.52 and a 200 day moving average price of $54.38. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $26.49 billion, a price-to-earnings ratio of 12.11, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54. Fox Corporation has a 52-week low of $38.72 and a 52-week high of $60.24.
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 analysts' consensus estimates of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The firm's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the prior year, the company posted $0.90 earnings per share. Research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.
FOX Increases Dividend
The firm also recently declared a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. This represents a yield of 94.0%. This is a positive change from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio is currently 11.00%.
Insiders Place Their Bets
In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction that occurred on Wednesday, June 4th. The stock was 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 in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.77% of the company's stock.
Wall Street Analyst Weigh In
FOXA has been the subject of a number of analyst reports. Bank of America boosted their price objective on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Guggenheim reissued a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Loop Capital boosted their price objective on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Barclays reissued an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Hold" and an average price target of $56.20.
Check Out Our Latest Report on FOX
About FOX
(
Free Report)
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.
Further Reading
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