BNP PARIBAS ASSET MANAGEMENT Holding S.A. Cuts Stock Position in Fox Corporation $FOXA

Key Points

• BNP PARIBAS ASSET MANAGEMENT Holding S.A. has reduced its stake in Fox Corporation by 49.3%, now owning approximately 299,107 shares worth about $16.9 million.
• Several hedge funds, including Hemington Wealth Management and MV Capital Management Inc., significantly increased their positions in Fox Corporation during the same period, with MV Capital increasing its stake by 929.9%.
• Fox Corporation is set to increase its dividend payment from $0.18 to $0.28 per share, with the upcoming dividend payable on September 24th.

BNP PARIBAS ASSET MANAGEMENT Holding S.A. cut its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 49.3% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 299,107 shares of the company's stock after selling 291,146 shares during the quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. owned about 0.07% of FOX worth $16,929,000 as of its most recent SEC filing.

A number of other institutional investors also recently bought and sold shares of FOXA. Mariner LLC lifted its position in shares of FOX by 26.5% during the fourth quarter. Mariner LLC now owns 32,545 shares of the company's stock worth $1,581,000 after purchasing an additional 6,814 shares during the last quarter. United Capital Financial Advisors LLC bought a new stake in shares of FOX during the fourth quarter worth $226,000. NewEdge Advisors LLC lifted its position in shares of FOX by 390.4% during the fourth quarter. NewEdge Advisors LLC now owns 5,291 shares of the company's stock worth $257,000 after purchasing an additional 4,212 shares during the last quarter. Canada Pension Plan Investment Board bought a new stake in shares of FOX during the fourth quarter worth $219,000. Finally, CANADA LIFE ASSURANCE Co lifted its position in shares of FOX by 0.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 530,872 shares of the company's stock worth $25,763,000 after purchasing an additional 1,571 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX 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 in the company, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. 21.77% of the stock is owned by company insiders.

FOX Stock Up 1.4%

Shares of FOXA stock traded up $0.82 on Wednesday, hitting $58.97. The stock had a trading volume of 3,364,776 shares, compared to its average volume of 3,653,045. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The business has a 50 day moving average price of $55.92 and a 200 day moving average price of $54.14. The company has a market cap of $26.27 billion, a PE ratio of 12.01, a P/E/G ratio of 1.39 and a beta of 0.54. Fox Corporation has a one year low of $38.72 and a one year high of $60.24.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate 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% on a year-over-year basis. During the same period in the previous year, the company posted $0.90 earnings per share. Research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's payout ratio is presently 11.00%.

Wall Street Analysts Forecast Growth

Several analysts have recently weighed in on FOXA shares. UBS Group set a $65.00 target price on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Cowen reiterated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Morgan Stanley lifted their target price on FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. Finally, Wells Fargo & Company lifted their price objective on FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, FOX has an average rating of "Hold" and a consensus price target of $56.20.

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.