Banco Bilbao Vizcaya Argentaria S.A. Lowers Holdings in Fox Corporation $FOXA

Key Points

• Banco Bilbao Vizcaya Argentaria S.A. reduced its holdings in Fox Corporation by 22.7%, resulting in ownership of 92,887 shares valued at approximately $5.23 million.
• Fox Corporation's CFO, Steven Tomsic, sold 39,642 shares worth over $2.19 million, decreasing his ownership by 22.84%.
• Analysts have varied opinions on FOX, with an average rating of "Hold" and a consensus price target of $56.20, while the company recently announced an increase in its dividend to $0.28 per share.

Banco Bilbao Vizcaya Argentaria S.A. cut its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 22.7% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 92,887 shares of the company's stock after selling 27,355 shares during the quarter. Banco Bilbao Vizcaya Argentaria S.A.'s holdings in FOX were worth $5,233,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors and hedge funds have also bought and sold shares of the company. BI Asset Management Fondsmaeglerselskab A S lifted its stake in FOX by 115.5% in the 1st quarter. BI Asset Management Fondsmaeglerselskab A S now owns 286,459 shares of the company's stock worth $16,214,000 after purchasing an additional 153,507 shares in the last quarter. Elequin Capital LP purchased a new stake in FOX in the 1st quarter worth approximately $63,000. Northwest & Ethical Investments L.P. lifted its stake in FOX by 42.0% in the 1st quarter. Northwest & Ethical Investments L.P. now owns 27,895 shares of the company's stock worth $1,579,000 after purchasing an additional 8,248 shares in the last quarter. Tocqueville Asset Management L.P. purchased a new stake in FOX in the 1st quarter worth approximately $227,000. Finally, Wealthedge Investment Advisors LLC purchased a new stake in FOX in the 1st quarter worth approximately $480,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Insiders own 21.77% of the company's stock.

Analyst Upgrades and Downgrades

Several research firms have recently weighed in on FOXA. Guggenheim restated a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Cowen restated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective on shares of FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $56.20.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $58.97 on Thursday. The stock has a market cap of $26.27 billion, a PE ratio of 12.01, a PEG ratio of 1.39 and a beta of 0.54. The company's fifty day moving average is $55.92 and its 200 day moving average is $54.14. Fox Corporation has a 52 week low of $38.72 and a 52 week high of $60.24. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.01 by $0.26. The company had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The firm's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company earned $0.90 EPS. Research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current 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 $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. FOX's dividend payout ratio is presently 11.00%.

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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