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

Several other large investors have also recently bought and sold shares of FOXA. Assetmark Inc. lifted its position in shares of FOX by 752.1% in the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after buying an additional 1,722,616 shares during the last quarter. Federated Hermes Inc. lifted its position in shares of FOX by 164,675.7% in the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock valued at $71,066,000 after buying an additional 1,254,829 shares during the last quarter. Nuveen LLC acquired a new stake in shares of FOX in the first quarter valued at approximately $63,125,000. Junto Capital Management LP acquired a new stake in shares of FOX in the first quarter valued at approximately $53,681,000. Finally, Ameriprise Financial Inc. lifted its position in shares of FOX by 537.0% in the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock valued at $59,909,000 after buying an additional 892,437 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

FOX stock traded down $0.48 during mid-day trading on Friday, reaching $58.25. 3,542,035 shares of the company were exchanged, compared to its average volume of 3,067,539. Fox Corporation has a 12 month low of $39.08 and a 12 month high of $62.69. The company has a fifty day simple moving average of $57.36 and a 200-day simple moving average of $54.66. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The firm has a market cap of $25.95 billion, a PE ratio of 11.86, a PEG ratio of 1.41 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter last year, the company posted $0.90 EPS. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This is a positive change from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. This represents a dividend yield of 93.0%. FOX's dividend payout ratio (DPR) is 11.41%.

Analysts Set New Price Targets

FOXA has been the subject of several research reports. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their price target on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a report on Monday, September 8th. Morgan Stanley set a $65.00 price target on FOX in a report on Tuesday. Guggenheim reissued a "buy" rating and set a $62.00 price target (up from $60.00) on shares of FOX in a 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 report on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $56.47.

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.