Caxton Associates LLP Takes Position in Fox Corporation $FOXA

Key Points

• Caxton Associates LLP purchased a new stake in Fox Corporation, acquiring 182,107 shares valued at approximately $10.31 million in the first quarter.
• Fox Corporation reported a 6.3% increase in quarterly revenue, reaching $3.29 billion, and a record EPS of $1.27, exceeding analyst estimates.
• The company's board declared an increase in the dividend to $0.28 per share, up from the previous $0.18, set to be paid in September.

Caxton Associates LLP acquired a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 182,107 shares of the company's stock, valued at approximately $10,307,000.

Several other hedge funds and other institutional investors have also modified their holdings of the stock. Hemington Wealth Management raised its holdings in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after acquiring an additional 359 shares during the period. MV Capital Management Inc. boosted its stake in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the period. Zions Bancorporation National Association UT bought a new stake in FOX in the 1st quarter valued at $40,000. Sentry Investment Management LLC acquired a new position in FOX in the 1st quarter valued at $43,000. Finally, Allworth Financial LP increased its position in FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after buying an additional 280 shares during the period. Institutional investors own 52.52% of the company's stock.

FOX Price Performance

FOXA traded up $1.54 on Thursday, reaching $58.73. The stock had a trading volume of 5,408,471 shares, compared to its average volume of 3,898,988. 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 company has a market capitalization of $26.17 billion, a price-to-earnings ratio of 11.96, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $62.69. The firm has a 50-day moving average of $57.27 and a 200-day moving average of $54.65.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate 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 return on equity of 18.86% and a net margin of 13.88%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. As a group, sell-side analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The firm 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. The ex-dividend date of this dividend is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. This represents a dividend yield of 93.0%. FOX's payout ratio is 11.41%.

Analysts Set New Price Targets

Several equities analysts recently commented on FOXA shares. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company raised their price objective on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America upped their target price on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, UBS Group set a $65.00 price target on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of "Hold" and an average price target of $56.47.

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.