Clark Capital Management Group Inc. Purchases 326,867 Shares of Fox Corporation $FOXA

Key Points

• Clark Capital Management Group Inc. increased its stake in Fox Corporation by 46.9%, purchasing an additional 326,867 shares, bringing their total holdings to over 1 million shares valued at approximately $57.9 million.
• Fox Corporation has announced a dividend increase from $0.18 to $0.28 per share, representing a dividend yield of 93.0%, with the payment scheduled for September 24th.
• Analysts have mixed ratings for FOX, with nine analysts rating it as a Buy, nine as a Hold, and one as a Sell, amidst a current average price target of $56.20.

Clark Capital Management Group Inc. increased its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 46.9% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,023,593 shares of the company's stock after acquiring an additional 326,867 shares during the quarter. Clark Capital Management Group Inc. owned about 0.23% of FOX worth $57,935,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FOXA. The Manufacturers Life Insurance Company boosted its position in shares of FOX by 0.5% in the fourth quarter. The Manufacturers Life Insurance Company now owns 160,045 shares of the company's stock valued at $7,775,000 after acquiring an additional 814 shares during the period. Algert Global LLC boosted its position in shares of FOX by 34.9% in the fourth quarter. Algert Global LLC now owns 9,440 shares of the company's stock valued at $459,000 after acquiring an additional 2,440 shares during the period. Ameriprise Financial Inc. boosted its position in shares of FOX by 30.5% in the fourth quarter. Ameriprise Financial Inc. now owns 166,202 shares of the company's stock valued at $8,074,000 after acquiring an additional 38,800 shares during the period. BNP Paribas Financial Markets raised its stake in FOX by 54.8% in the fourth quarter. BNP Paribas Financial Markets now owns 1,272,764 shares of the company's stock valued at $61,831,000 after purchasing an additional 450,632 shares in the last quarter. Finally, Captrust Financial Advisors purchased a new stake in FOX in the fourth quarter valued at approximately $306,000. 52.52% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

A number of equities research analysts recently weighed in on FOXA shares. Morgan Stanley raised their target price on shares of FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company raised their target price on shares of FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a research note on Thursday, August 14th. Barclays reaffirmed an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $56.20.

FOX Trading Up 1.1%

Shares of NASDAQ FOXA traded up $0.69 during mid-day trading on Friday, hitting $61.50. The stock had a trading volume of 2,103,737 shares, compared to its average volume of 2,829,226. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The business has a 50 day moving average price of $57.04 and a two-hundred day moving average price of $54.58. The firm has a market cap of $27.40 billion, a P/E ratio of 12.53, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $61.52.

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

FOX Increases Dividend

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

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.