43,048 Shares in Fox Corporation (NASDAQ:FOXA) Acquired by Donoghue Forlines LLC

Key Points

• Donoghue Forlines LLC acquired a new stake in Fox Corporation, purchasing 43,048 shares valued at approximately $2.4 million, making it the firm's 16th largest holding.
• Analysts have mixed views on FOXA, with a current average rating of "Hold" and a consensus price target of $55.93, with several firms setting targets around $65.00.
• Fox Corporation has declared an increased dividend of $0.28 per share, with the payout planned for September 24th, reflecting a positive change from their previous dividend of $0.18.

Donoghue Forlines LLC bought a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund bought 43,048 shares of the company's stock, valued at approximately $2,437,000. FOX makes up about 0.8% of Donoghue Forlines LLC's investment portfolio, making the stock its 16th biggest position.

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

FOX Trading Up 3.0%

NASDAQ FOXA traded up $1.63 during trading hours on Tuesday, reaching $56.13. The company had a trading volume of 2,842,931 shares, compared to its average volume of 3,977,456. The stock has a 50-day moving average of $55.38 and a 200 day moving average of $53.81. Fox Corporation has a 1-year low of $38.72 and a 1-year high of $58.74. 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 stock has a market capitalization of $25.24 billion, a P/E ratio of 11.43, a price-to-earnings-growth ratio of 1.29 and a beta of 0.54.

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, topping the consensus estimate of $1.01 by $0.26. The business had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the company earned $0.90 earnings per share. As a group, research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal 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 given 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 dividend payout ratio is currently 11.00%.

Insider Activity

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.77% of the company's stock.

Wall Street Analyst Weigh In

A number of equities research analysts have recently commented on FOXA shares. Wall Street Zen cut shares of FOX from a "buy" rating to a "hold" rating in a research report on Saturday. Cowen reiterated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Finally, Morgan Stanley raised their price objective on shares of FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research report on Wednesday, August 6th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $55.93.

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.