Fort Washington Investment Advisors Inc. OH Sells 135,817 Shares of Fox Corporation $FOXA

Key Points

• Fort Washington Investment Advisors Inc. OH reduced its stake in Fox Corporation by 18.3%, selling 135,817 shares and now owning approximately 606,013 shares valued at $33.96 million.
• Fox Corporation reported $1.27 earnings per share for the latest quarter, surpassing analysts' expectations, and its revenue for the quarter was $3.29 billion, up 6.3% year-over-year.
• Fox has announced a dividend increase, raising its payout from $0.18 to $0.28 per share, representing a yield of 93.0%.

Fort Washington Investment Advisors Inc. OH lessened its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 18.3% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 606,013 shares of the company's stock after selling 135,817 shares during the period. Fort Washington Investment Advisors Inc. OH owned about 0.13% of FOX worth $33,961,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the company. Vanguard Group Inc. lifted its position 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 acquiring an additional 518,835 shares in the last quarter. Invesco Ltd. raised its holdings in shares of FOX by 3.0% during the first quarter. Invesco Ltd. now owns 3,680,293 shares of the company's stock valued at $208,305,000 after purchasing an additional 107,687 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its position in FOX by 1.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company's stock valued at $153,331,000 after purchasing an additional 32,144 shares during the period. AustralianSuper Pty Ltd lifted its position in FOX by 8.8% during the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock valued at $149,218,000 after purchasing an additional 212,348 shares during the period. Finally, KBC Group NV boosted its holdings in FOX by 1.3% in the first quarter. KBC Group NV now owns 2,397,604 shares of the company's stock worth $135,704,000 after purchasing an additional 29,906 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $61.15 on Friday. The stock has a market cap of $27.24 billion, a PE ratio of 12.45, a price-to-earnings-growth ratio of 1.46 and a beta of 0.52. Fox Corporation has a 1 year low of $41.13 and a 1 year high of $62.85. The firm has a fifty day moving average price of $58.25 and a 200-day moving average price of $54.98. 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 (NASDAQ:FOXA - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating analysts' consensus estimates of $1.01 by $0.26. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company had revenue of $3.29 billion for the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the company earned $0.90 EPS. FOX's revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd were paid 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 was Wednesday, September 3rd. This represents a yield of 93.0%. FOX's dividend payout ratio is 11.41%.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several research analyst reports. Guggenheim increased their price target on FOX from $62.00 to $68.00 and gave the company a "buy" rating in a report on Friday. Morgan Stanley set a $65.00 target price on FOX in a research report on Tuesday, September 9th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Bank of America boosted their target price on shares of FOX from $65.00 to $70.00 and gave the company a "buy" rating in a research report on Friday. Finally, Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Nine investment analysts have rated the stock with a Buy rating and eight have assigned a Hold rating to the company's stock. According to MarketBeat, the company presently has a consensus rating of "Moderate Buy" and a consensus price target of $57.20.

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.

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