BI Asset Management Fondsmaeglerselskab A S Has $16.21 Million Stock Position in Fox Corporation $FOXA

Key Points

• BI Asset Management Fondsmaeglerselskab A S significantly increased its shares in Fox Corporation by 115.5% during the first quarter, reaching a total of 286,459 shares valued at approximately $16.2 million.
• Fox Corporation reported $1.27 earnings per share (EPS) for the last quarter, surpassing analyst expectations, with revenues up 6.3% year-over-year to $3.29 billion.
• The company's board announced a new dividend of $0.28 per share, up from the previous $0.18, with payment scheduled for September 24th.

BI Asset Management Fondsmaeglerselskab A S boosted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 115.5% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 286,459 shares of the company's stock after buying an additional 153,507 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S owned approximately 0.06% of FOX worth $16,214,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXA. CWM LLC lifted its stake in shares of FOX by 8.6% during the first quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after buying an additional 527 shares during the period. Sequoia Financial Advisors LLC raised its stake in FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA lifted its stake in FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after purchasing an additional 431 shares in the last quarter. HB Wealth Management LLC purchased a new position in shares of FOX during the 1st quarter worth $420,000. Finally, Janney Montgomery Scott LLC lifted its holdings in FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after acquiring an additional 19,181 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

FOXA stock traded up $0.39 on Friday, hitting $59.42. 2,847,112 shares of the company's stock traded hands, compared to its average volume of 3,707,163. The stock has a fifty day moving average of $56.14 and a 200-day moving average of $54.22. 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 stock has a market cap of $26.47 billion, a price-to-earnings ratio of 12.10, a P/E/G ratio of 1.41 and a beta of 0.54. Fox Corporation has a 1-year low of $38.72 and a 1-year high of $60.24.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.26. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm earned $0.90 EPS. The company's revenue was up 6.3% compared to the same quarter last year. On average, analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This is an increase from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is currently 11.00%.

Analyst Upgrades and Downgrades

FOXA has been the topic of a number of research reports. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Bank of America lifted their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Morgan Stanley raised their price target on shares of FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat, the company currently has an average rating of "Hold" and an average price target of $56.20.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction dated Tuesday, June 3rd. The stock was 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 of the company's stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. 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.