Evergreen Capital Management LLC Invests $326,000 in Fox Corporation $FOXA

Key Points

• Evergreen Capital Management LLC has invested approximately $326,000 in Fox Corporation, acquiring 5,752 shares in the first quarter.
• Fox Corporation recently reported earnings of $1.27 per share, surpassing estimates and showing a 6.3% year-over-year increase in revenue.
• The company has declared a dividend increase to $0.28 per share, reflecting a significant positive change from its previous dividend of $0.18.

Evergreen Capital Management LLC acquired a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 5,752 shares of the company's stock, valued at approximately $326,000.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. CWM LLC lifted its stake in shares of FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after purchasing an additional 527 shares during the last quarter. Sequoia Financial Advisors LLC lifted its stake in shares of FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA lifted its stake in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after purchasing an additional 431 shares during the last quarter. HB Wealth Management LLC acquired a new position in shares of FOX in the 1st quarter valued at $420,000. Finally, Janney Montgomery Scott LLC lifted its stake in shares of FOX by 152.1% in the 1st quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after purchasing an additional 19,181 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $61.05 on Wednesday. The stock's 50-day moving average is $56.78 and its two-hundred day moving average is $54.49. 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 $61.10. The company has a market cap of $27.20 billion, a price-to-earnings ratio of 12.43, a price-to-earnings-growth ratio of 1.43 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 for the quarter, topping 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 the consensus estimate of $3.12 billion. During the same quarter in the prior year, the business earned $0.90 EPS. FOX's revenue was up 6.3% on a year-over-year basis. Analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Shareholders 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 is Wednesday, September 3rd. This represents a yield of 92.0%. FOX's dividend payout ratio (DPR) is currently 11.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FOXA shares. UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Wells Fargo & Company increased their target price on FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Guggenheim reissued a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, FOX has an average rating of "Hold" and a consensus target price of $56.20.

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.

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