Ardmore Road Asset Management LP raised its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 40.0% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 420,000 shares of the company's stock after purchasing an additional 120,000 shares during the quarter. FOX accounts for 2.4% of Ardmore Road Asset Management LP's holdings, making the stock its 17th largest holding. Ardmore Road Asset Management LP owned 0.09% of FOX worth $23,772,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently modified their holdings of the company. Junto Capital Management LP purchased a new stake in shares of FOX in the 1st quarter valued at $53,681,000. Aragon Global Management LP purchased a new position in shares of FOX during the 1st quarter worth approximately $1,643,000. Vident Advisory LLC purchased a new position in shares of FOX during the 1st quarter worth approximately $310,000. Evergreen Capital Management LLC purchased a new position in shares of FOX during the 1st quarter worth approximately $326,000. Finally, WPG Advisers LLC purchased a new position in FOX in the 1st quarter valued at approximately $54,000. Hedge funds and other institutional investors own 52.52% of the company's stock.
FOX Price Performance
Shares of NASDAQ:FOXA traded down $0.69 on Wednesday, reaching $60.08. 2,506,875 shares of the company traded hands, compared to its average volume of 3,884,885. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The stock has a market capitalization of $26.77 billion, a PE ratio of 12.24, a P/E/G ratio of 1.43 and a beta of 0.52. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $61.28. The company's 50 day moving average is $56.78 and its 200-day moving average is $54.49.
FOX (NASDAQ:FOXA - Get Free Report) last posted its 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 the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business's quarterly revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the business posted $0.90 earnings per share. As a group, analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.
FOX Increases Dividend
The firm also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a $0.28 dividend. This is an increase from FOX's previous dividend of $0.18. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.41%.
Analyst Ratings Changes
A number of brokerages have commented on FOXA. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Loop Capital boosted their price objective on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Barclays reiterated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Wells Fargo & Company boosted their price objective on FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has given a Sell rating to the company. According to MarketBeat, the company has an average rating of "Hold" and an average target price of $56.20.
View Our Latest Report on FOXA
FOX Company Profile
(
Free Report)
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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