Fox Corporation $FOX Stock Sold by Robeco Institutional Asset Management B.V.

Key Points

• Robeco Institutional Asset Management B.V. cut its FOX position by 99.4% in the third quarter, selling 1.92 million shares and retaining 11,622 shares valued at approximately $654,000. Institutional investors collectively own 26.41% of FOX.
• FOX shares opened at $58.15, down 2.2%, with a market capitalization of about $24.4 billion. The company recently beat quarterly expectations, reporting $1.79 in EPS versus the $1.44 consensus and revenue of $4.21 billion.
• Analyst sentiment remains broadly positive, with a consensus “Buy” rating and an average price target of $78.40. CEO Lachlan Murdoch also purchased nearly 150,000 shares for approximately $10.3 million.

Robeco Institutional Asset Management B.V. lowered its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 99.4% in the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 11,622 shares of the company's stock after selling 1,916,997 shares during the quarter. Robeco Institutional Asset Management B.V.'s holdings in FOX were worth $654,000 at the end of the most recent quarter.

Other hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc raised its position in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company's stock worth $40,000 after purchasing an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new position in shares of FOX during the 2nd quarter worth $70,000. Glenmede Trust Co. NA grew its position in shares of FOX by 143.9% during the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company's stock valued at $143,000 after acquiring an additional 1,591 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of FOX by 27.6% in the 1st quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company's stock worth $151,000 after purchasing an additional 613 shares in the last quarter. Finally, CX Institutional increased its stake in shares of FOX by 54.4% in the 3rd quarter. CX Institutional now owns 2,898 shares of the company's stock worth $163,000 after purchasing an additional 1,021 shares in the last quarter. Institutional investors own 26.41% of the company's stock.

FOX Trading Down 2.2%

Shares of FOX stock opened at $58.15 on Tuesday. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. Fox Corporation has a twelve month low of $44.08 and a twelve month high of $68.18. The business has a 50-day moving average price of $58.54 and a 200-day moving average price of $56.25. The firm has a market cap of $24.40 billion, a price-to-earnings ratio of 15.18, a PEG ratio of 1.48 and a beta of 0.63.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business had revenue of $4.21 billion for the quarter, compared to analysts' expectations of $3.64 billion. Equities research analysts anticipate that Fox Corporation will post 6.23 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.29 per share. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 96.0%. FOX's dividend payout ratio (DPR) is 15.14%.

Analyst Ratings Changes

A number of research firms have recently weighed in on FOX. Guggenheim reaffirmed a "buy" rating on shares of FOX in a research report on Tuesday, August 25th. JPMorgan Chase & Co. upgraded FOX from a "neutral" rating to an "overweight" rating and boosted their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Weiss Ratings raised shares of FOX from a "hold (c+)" rating to a "buy (b-)" rating in a report on Thursday, September 10th. Wells Fargo & Company upgraded shares of FOX from a "hold" rating to an "overweight" rating and set a $80.00 target price on the stock in a research note on Friday, August 14th. Finally, Seaport Research Partners cut shares of FOX from a "buy" rating to a "hold" rating in a research note on Friday, August 7th. Three analysts have rated the stock with a Strong Buy rating, eight have given a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat.com, FOX has a consensus rating of "Buy" and an average target price of $78.40.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch acquired 149,934 shares of the company's stock in a transaction on Tuesday, September 15th. The stock was acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer directly owned 1,401,713 shares of the company's stock, valued at approximately $96,059,391.89. This represents a 11.98% increase in their position. The purchase was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.06% of the stock is owned by company insiders.

FOX Profile

Fox Corporation NASDAQ: FOX is a 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 operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company's FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.

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