32,080 Shares in Fox Corporation $FOXA Purchased by FORA Capital LLC

Key Points

• FORA Capital LLC has invested approximately $1.82 million in Fox Corporation by acquiring 32,080 shares during the first quarter.
• Fox Corporation recently announced a dividend increase to $0.28 per share, up from the previous $0.18, to be paid on September 24.
• Fox reported a strong quarterly performance, with earnings per share of $1.27, surpassing analyst expectations of $1.01, alongside a revenue increase of 6.3% year-over-year.

FORA Capital LLC acquired a new position in 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 32,080 shares of the company's stock, valued at approximately $1,816,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Greenleaf Trust raised its position in shares of FOX by 3.1% during the first quarter. Greenleaf Trust now owns 6,778 shares of the company's stock worth $384,000 after acquiring an additional 205 shares during the last quarter. Allworth Financial LP boosted its holdings in FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after buying an additional 280 shares during the last quarter. Linden Thomas Advisory Services LLC grew its holdings in FOX by 0.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company's stock valued at $2,823,000 after purchasing an additional 293 shares during the period. State of Alaska Department of Revenue increased its stake in FOX by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company's stock valued at $1,444,000 after purchasing an additional 305 shares in the last quarter. Finally, Hemington Wealth Management increased its position in shares of FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after buying an additional 359 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several brokerages recently issued reports on FOXA. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. 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 report on Wednesday, August 6th. Guggenheim reaffirmed a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Loop Capital increased their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, FOX has an average rating of "Hold" and an average target price of $56.20.

FOX Stock Up 0.4%

FOXA traded up $0.24 during trading hours on Monday, hitting $59.70. 2,455,317 shares of the company's stock were exchanged, compared to its average volume of 3,611,355. The stock has a market cap of $26.60 billion, a price-to-earnings ratio of 12.16, a PEG ratio of 1.43 and a beta of 0.52. Fox Corporation has a 1-year low of $38.72 and a 1-year high of $60.24. The stock's 50-day moving average is $56.61 and its two-hundred day moving average is $54.42. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.01 by $0.26. The firm 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 company's revenue for the quarter was up 6.3% on a year-over-year basis. During the same period in the previous year, the firm posted $0.90 EPS. Sell-side analysts predict that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This represents a dividend yield of 94.0%. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is currently 11.00%.

Insider Activity at FOX

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

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.