Candriam S.C.A. Raises Holdings in Fox Corporation $FOXA

Key Points

• Candriam S.C.A. has increased its holdings in Fox Corporation by 20.7%, bringing its ownership to 44,607 shares valued at $2,525,000.
• Fox Corporation recently declared a dividend increase, raising its payout from $0.18 to $0.28 per share, with payments scheduled for September 24th.
• The company reported earnings per share of $1.27, surpassing estimates and showing a year-over-year revenue growth of 6.3% to $3.29 billion.

Candriam S.C.A. grew its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 20.7% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 44,607 shares of the company's stock after purchasing an additional 7,639 shares during the period. Candriam S.C.A.'s holdings in FOX were worth $2,525,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. CWM LLC grew its position in FOX by 8.6% in the first quarter. CWM LLC now owns 6,663 shares of the company's stock worth $377,000 after acquiring an additional 527 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in FOX by 7.8% in the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after acquiring an additional 464 shares in the last quarter. Private Trust Co. NA grew its position in FOX by 86.5% in the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares in the last quarter. HB Wealth Management LLC purchased a new position in FOX in the first quarter worth about $420,000. Finally, Janney Montgomery Scott LLC grew its position in FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after acquiring an additional 19,181 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

FOX stock opened at $59.42 on Friday. The company has a 50 day moving average price of $56.14 and a 200-day moving average price of $54.22. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $60.24. The company has a market capitalization of $26.47 billion, a PE ratio of 12.10, a P/E/G ratio of 1.41 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results 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. FOX had a net margin of 13.88% and a return on equity of 18.86%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the firm posted $0.90 earnings per share. The company's revenue was up 6.3% on a year-over-year basis. As a group, equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current 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 a boost from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is presently 11.00%.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Corporate insiders own 21.77% of the company's stock.

Analysts Set New Price Targets

FOXA has been the subject of several recent research reports. Guggenheim reiterated a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Finally, UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.20.

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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