Fox Corporation $FOX Shares Purchased by National Pension Service

Key Points

• National Pension Service increased its FOX stake by 56.2% in the second quarter, owning 56,048 shares valued at approximately $2.63 million. Institutional investors and hedge funds collectively hold 26.41% of FOX shares.
• Analyst sentiment remains positive, with FOX receiving a consensus “Moderate Buy” rating and an average price target of $77.89, despite one brokerage downgrading the stock to “Hold.”
• FOX reported quarterly earnings of $1.79 per share, beating estimates of $1.44, while revenue reached $4.21 billion versus the $3.64 billion consensus estimate. The company also announced a $0.29-per-share dividend.

National Pension Service grew its stake in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 56.2% in the 2nd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 56,048 shares of the company's stock after buying an additional 20,157 shares during the period. National Pension Service's holdings in FOX were worth $2,625,000 at the end of the most recent reporting period.

A number of other institutional investors also recently made changes to their positions in the stock. California State Teachers Retirement System boosted its stake in shares of FOX by 4,092.9% during the second quarter. California State Teachers Retirement System now owns 7,212,704 shares of the company's stock valued at $337,843,000 after acquiring an additional 7,040,682 shares during the last quarter. Marshall Wace LLP raised its stake in FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company's stock valued at $182,448,000 after purchasing an additional 2,827,768 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in FOX in the 2nd quarter valued at about $35,047,000. Bank of New York Mellon Corp lifted its holdings in FOX by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company's stock valued at $43,296,000 after purchasing an additional 10,165 shares in the last quarter. Finally, Gamco Investors INC. ET AL lifted its holdings in FOX by 10.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company's stock valued at $31,073,000 after purchasing an additional 53,166 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of brokerages have recently commented on FOX. Guggenheim reiterated a "buy" rating on shares of FOX in a report on Tuesday, August 25th. Citigroup reissued a "buy" rating on shares of FOX in a research note on Friday, July 17th. Seaport Research Partners lowered shares of FOX from a "buy" rating to a "hold" rating in a research report on Friday, August 7th. Weiss Ratings raised shares of FOX from a "hold (c+)" rating to a "buy (b-)" rating in a research note on Thursday. Finally, Rothschild & Co Redburn set a $71.00 price target on FOX in a report on Friday, July 10th. One research analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, one has assigned a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, FOX has a consensus rating of "Moderate Buy" and a consensus price target of $77.89.

FOX Price Performance

Shares of FOX stock opened at $58.45 on Monday. The business's fifty day moving average price is $55.35 and its 200 day moving average price is $54.72. Fox Corporation has a twelve month low of $44.08 and a twelve month high of $68.18. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $24.53 billion, a P/E ratio of 15.26, a PEG ratio of 1.58 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. As a group, research analysts anticipate that Fox Corporation will post 5.99 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently announced a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a yield of 96.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX's dividend payout ratio is 15.14%.

About FOX

Fox Corporation NASDAQ: FOX is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox's entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company's principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.

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