AXQ Capital LP Has $1.52 Million Position in Fox Corporation $FOX

Key Points

• AXQ Capital LP increased its Fox Corporation stake by 167.6% in the second quarter, owning 32,382 shares valued at approximately $1.52 million. Institutional investors collectively own 26.41% of FOX.
• Analyst sentiment remains generally positive, with FOX holding a “Moderate Buy” consensus rating and an average price target of $77.89, despite one recent downgrade to “Hold.”
• FOX reported quarterly EPS of $1.79, beating estimates of $1.44, while revenue reached $4.21 billion versus the $3.64 billion consensus estimate. The company also declared a $0.29-per-share dividend.

AXQ Capital LP raised its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 167.6% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 32,382 shares of the company's stock after acquiring an additional 20,280 shares during the quarter. AXQ Capital LP's holdings in FOX were worth $1,517,000 at the end of the most recent quarter.

Several other large investors also recently added to or reduced their stakes in the business. Versant Capital Management Inc boosted its position in FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company's stock worth $40,000 after purchasing an additional 251 shares during the period. Baird Financial Group Inc. lifted its stake in shares of FOX by 1.1% in the second quarter. Baird Financial Group Inc. now owns 31,707 shares of the company's stock worth $1,637,000 after buying an additional 343 shares during the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock worth $35,000 after buying an additional 475 shares during the period. Arlington Partners LLC grew its stake in FOX by 12.4% in the 2nd quarter. Arlington Partners LLC now owns 5,054 shares of the company's stock valued at $237,000 after buying an additional 556 shares during the last quarter. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its holdings in FOX by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company's stock worth $656,000 after acquiring an additional 586 shares during the period. 26.41% of the stock is owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FOX shares. Weiss Ratings downgraded FOX from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. Guggenheim reissued a "buy" rating on shares of FOX in a research report on Tuesday, August 25th. Wolfe Research set a $93.00 target price on FOX in a report on Thursday, August 20th. Rothschild & Co Redburn set a $71.00 price target on FOX in a report on Friday, July 10th. Finally, Citigroup reissued a "buy" rating on shares of FOX in a research report on Friday, July 17th. One investment analyst has rated the stock with a Strong Buy rating, six have issued a Buy rating, two have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of "Moderate Buy" and an average target price of $77.89.

FOX Trading Down 3.4%

FOX opened at $58.42 on Friday. Fox Corporation has a 1-year low of $44.08 and a 1-year high of $68.18. The stock has a market capitalization of $24.52 billion, a PE ratio of 15.25, a PEG ratio of 1.66 and a beta of 0.58. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The firm has a 50-day moving average price of $54.39 and a two-hundred day moving average price of $54.48.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. As a group, equities analysts anticipate that Fox Corporation will post 5.91 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a $0.29 dividend. This represents a dividend yield of 96.0%. The ex-dividend date is Wednesday, September 2nd. FOX's dividend payout ratio is 15.14%.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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