Ascent Group LLC Makes New $488,000 Investment in Fox Corporation $FOXA

Key Points

• Ascent Group LLC made a significant new investment of $488,000 in Fox Corporation, acquiring 8,623 shares during the first quarter.
• Fox Corporation reported earnings of $1.27 per share, surpassing analysts' predictions, and announced a new dividend of $0.28 per share, up from $0.18.
• Institutional investors currently hold approximately 52.52% of Fox Corporation's stock, with multiple firms raising their stakes in the company recently.

Ascent Group LLC bought a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm bought 8,623 shares of the company's stock, valued at approximately $488,000.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC raised its stake in FOX by 8.6% during the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after acquiring an additional 527 shares during the period. Sequoia Financial Advisors LLC raised its stake 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 acquiring an additional 464 shares during the period. Private Trust Co. NA raised its stake in FOX by 86.5% during the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares during the period. HB Wealth Management LLC bought a new stake in shares of FOX during the first quarter valued at approximately $420,000. Finally, Janney Montgomery Scott LLC raised its position in shares of FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after buying an additional 19,181 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Trading Down 2.5%

Shares of FOXA opened at $57.19 on Thursday. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The company's fifty day moving average is $57.27 and its 200 day moving average is $54.65. The stock has a market capitalization of $25.48 billion, a PE ratio of 11.65, a P/E/G ratio of 1.40 and a beta of 0.52. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates 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 for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the business posted $0.90 earnings per share. The business's revenue was up 6.3% compared to the same quarter last year. Sell-side analysts expect 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. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This represents a yield of 93.0%. This is a positive change from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is presently 11.41%.

Analyst Upgrades and Downgrades

FOXA has been the topic of several recent analyst reports. UBS Group set a $65.00 price objective on shares of FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wells Fargo & Company lifted their price objective on shares of FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a research report on Monday. Bank of America lifted their price objective 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. Morgan Stanley set a $65.00 price target on shares of FOX in a research report on Tuesday. Finally, Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus target price of $56.47.

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.

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