Baird Financial Group Inc. Has $1.65 Million Stake in Fox Corporation $FOX

Key Points

• Baird Financial Group Inc. has increased its stake in Fox Corporation by 268.6%, holding a total of $1.65 million in shares after acquiring an additional 22,855 shares in the first quarter.
• Fox Corporation recently reported earnings of $1.27 per share for the quarter, exceeding analysts' expectations of $1.03 and achieving a revenue of $3.29 billion.
• The company has declared a $0.28 dividend to be paid on September 24th, with an ex-dividend date of September 3rd, signaling a modest dividend payout ratio of 11.41%.

Baird Financial Group Inc. grew its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 268.6% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,364 shares of the company's stock after purchasing an additional 22,855 shares during the period. Baird Financial Group Inc.'s holdings in FOX were worth $1,653,000 as of its most recent SEC filing.

A number of other large investors also recently made changes to their positions in the business. Vanguard Group Inc. increased its holdings in shares of FOX by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock valued at $768,799,000 after purchasing an additional 249,246 shares during the period. National Bank of Canada FI increased its holdings in shares of FOX by 37.7% in the 1st quarter. National Bank of Canada FI now owns 1,817,328 shares of the company's stock valued at $95,791,000 after purchasing an additional 497,544 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its holdings in shares of FOX by 19.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,417,953 shares of the company's stock valued at $64,857,000 after purchasing an additional 227,589 shares during the period. Nuveen Asset Management LLC increased its holdings in shares of FOX by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,041,588 shares of the company's stock valued at $47,642,000 after purchasing an additional 51,662 shares during the period. Finally, Nuveen LLC acquired a new position in shares of FOX in the 1st quarter valued at about $54,630,000. Institutional investors and hedge funds own 26.41% of the company's stock.

FOX Price Performance

Shares of FOX opened at $55.97 on Monday. The company has a market capitalization of $24.94 billion, a price-to-earnings ratio of 11.40, a P/E/G ratio of 1.38 and a beta of 0.57. Fox Corporation has a fifty-two week low of $35.89 and a fifty-two week high of $55.98. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The business's 50-day moving average is $52.23 and its 200-day moving average is $50.29.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.03 by $0.24. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. Equities research analysts expect that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is currently 11.41%.

About FOX

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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