ASR Vermogensbeheer N.V. Acquires Shares of 33,324 Fox Corporation (NASDAQ:FOXA)

Key Points

• ASR Vermogensbeheer N.V. acquired 33,324 shares of Fox Corporation for approximately $1.9 million during Q1, reflecting growing institutional interest in the company.
• Fox Corporation reported a quarterly earnings per share (EPS) of $1.27, exceeding analysts' expectations, along with a revenue of $3.29 billion, a 6.3% increase year-over-year.
• The company announced a dividend increase to $0.28 per share, set to be paid on September 24, up from the previous $0.18.

ASR Vermogensbeheer N.V. bought a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm bought 33,324 shares of the company's stock, valued at approximately $1,886,000.

Several other institutional investors have also recently made changes to their positions in FOXA. Hemington Wealth Management grew its holdings in 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 buying an additional 359 shares in the last quarter. MV Capital Management Inc. boosted its holdings in shares of FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares during the period. Sentry Investment Management LLC bought a new stake in shares of FOX during the 1st quarter worth approximately $43,000. Allworth Financial LP lifted its stake in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after acquiring an additional 280 shares during the last quarter. Finally, TCTC Holdings LLC lifted its stake in shares of FOX by 112.5% during the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company's stock worth $45,000 after acquiring an additional 422 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

FOXA has been the subject of a number of research analyst reports. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their target price on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley lifted their target price on FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and a consensus target price of $55.93.

FOX Stock Up 3.0%

NASDAQ:FOXA traded up $1.63 during mid-day trading on Tuesday, hitting $56.13. 2,568,253 shares of the company's stock traded hands, compared to its average volume of 3,977,453. The company has a fifty day moving average of $55.38 and a 200 day moving average of $53.81. Fox Corporation has a twelve month low of $38.72 and a twelve month high of $58.74. The company has a market capitalization of $25.24 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.29 and a beta of 0.54. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.26. The company 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%. 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 EPS. On average, analysts forecast that Fox Corporation will post 4.38 EPS for the current 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 given a dividend of $0.28 per share. This is an increase from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.00%.

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.77% of the company's stock.

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.