Connor Clark & Lunn Investment Management Ltd. purchased a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to its most recent disclosure with the SEC. The firm purchased 4,797 shares of the company's stock, valued at approximately $272,000.
A number of other hedge funds and other institutional investors have also recently bought and sold shares of the stock. Vanguard Group Inc. lifted its stake in FOX by 2.1% in the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company's stock valued at $1,456,863,000 after buying an additional 518,835 shares in the last quarter. Dimensional Fund Advisors LP lifted its stake in FOX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after buying an additional 39,959 shares in the last quarter. Northern Trust Corp lifted its stake in FOX by 17.1% in the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after buying an additional 219,016 shares in the last quarter. Finally, AustralianSuper Pty Ltd lifted its stake in FOX by 8.8% in the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock worth $149,218,000 after purchasing an additional 212,348 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
Insider Activity
In other news, CFO Steven Tomsic sold 5,607 shares of the firm's 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 in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is owned by corporate insiders.
FOX Stock Up 1.4%
Shares of NASDAQ FOXA opened at $58.97 on Thursday. The company has a 50 day simple moving average of $55.92 and a 200-day simple moving average of $54.14. The company has a market capitalization of $26.27 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.39 and a beta of 0.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $60.24.
FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.01 by $0.26. The business had revenue of $3.29 billion during 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 business's revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the firm earned $0.90 EPS. On average, equities research analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.
FOX Increases Dividend
The company also recently declared 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. The ex-dividend date is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's payout ratio is 11.00%.
Analysts Set New Price Targets
A number of research analysts have weighed in on FOXA shares. Wells Fargo & Company raised their target price on shares of FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Bank of America raised their target price on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Cowen reissued a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Barclays reissued an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, UBS Group set a $65.00 target price on shares of FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Nine analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has given a Sell rating to the company. According to MarketBeat.com, the stock has a consensus rating of "Hold" and a consensus target price of $56.20.
Read Our Latest Research Report on FOXA
About FOX
(
Free Report)
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.
See Also
Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corporation (NASDAQ:FOXA - Free Report).
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