Ascent Group LLC Acquires Shares of 8,623 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 purchased a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to its most recent disclosure with the SEC. The firm purchased 8,623 shares of the company's stock, valued at approximately $488,000.

A number of other hedge funds have also made changes to their positions in FOXA. Hemington Wealth Management increased its holdings in shares of 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 acquiring an additional 359 shares during the last quarter. MV Capital Management Inc. increased its holdings in shares of 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 acquiring an additional 623 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in shares of FOX during the 1st quarter valued at about $40,000. Sentry Investment Management LLC acquired a new position in shares of FOX during the 1st quarter valued at about $43,000. Finally, Allworth Financial LP increased its holdings in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Price Performance

FOXA stock traded down $0.47 during trading on Tuesday, hitting $58.30. The company had a trading volume of 657,876 shares, compared to its average volume of 3,884,100. The company has a fifty day moving average price of $57.43 and a two-hundred day moving average price of $54.64. 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 company has a market cap of $25.97 billion, a P/E ratio of 11.87, a P/E/G ratio of 1.40 and a beta of 0.52. Fox Corporation has a fifty-two week low of $39.74 and a fifty-two week high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results 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 analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.FOX's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the firm earned $0.90 EPS. Equities research analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a yield of 93.0%. This is a positive change from FOX's previous dividend of $0.18. FOX's payout ratio is presently 11.41%.

Analyst Ratings Changes

A number of brokerages have recently commented on FOXA. UBS Group set a $65.00 price objective on FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company increased their price objective on FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Morgan Stanley set a $65.00 target price on FOX in a report on Tuesday, September 9th. Guggenheim reaffirmed a "buy" rating and issued a $62.00 target price (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat, the stock has an average rating of "Hold" and an average price target of $56.47.

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.