Livforsakringsbolaget Skandia Omsesidigt Grows Stock Holdings in Fox Corporation $FOXA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its stake in Fox Corporation by 13.3% in the second quarter, bringing its total ownership to approximately 0.06% of FOX.
• Fox Corporation recently reported earnings of $1.27 EPS, exceeding expectations, along with a revenue increase of 6.3% year-over-year, totaling $3.29 billion.
• The company declared a new dividend of $0.28 per share, which is an increase from the previous $0.18, and carries a dividend yield of 93.0%.

Livforsakringsbolaget Skandia Omsesidigt boosted its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 13.3% during the second quarter, according to its most recent Form 13F filing with the SEC. The fund owned 254,800 shares of the company's stock after acquiring an additional 29,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned 0.06% of FOX worth $14,271,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FOXA. Assetmark Inc. lifted its holdings in FOX by 752.1% in the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after acquiring an additional 1,722,616 shares during the last quarter. Federated Hermes Inc. lifted its holdings in FOX by 164,675.7% in the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock valued at $71,066,000 after acquiring an additional 1,254,829 shares during the last quarter. Nuveen LLC acquired a new position in FOX in the first quarter valued at approximately $63,125,000. Junto Capital Management LP acquired a new position in FOX in the first quarter valued at approximately $53,681,000. Finally, Ameriprise Financial Inc. lifted its holdings in FOX by 537.0% in the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock valued at $59,909,000 after acquiring an additional 892,437 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of FOXA stock traded down $0.08 during mid-day trading on Tuesday, hitting $62.34. 1,053,412 shares of the stock were exchanged, compared to its average volume of 3,934,440. The stock's fifty day simple moving average is $57.86 and its two-hundred day simple moving average is $54.77. The stock has a market capitalization of $27.77 billion, a price-to-earnings ratio of 12.70, a P/E/G ratio of 1.45 and a beta of 0.52. Fox Corporation has a 12-month low of $41.06 and a 12-month high of $62.85. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.01 by $0.26. The company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business's quarterly revenue was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. On average, analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. 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 is 11.41%.

Analyst Upgrades and Downgrades

A number of research analysts have commented on the company. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Bank of America upped their price target on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group set a $65.00 price target on FOX and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Morgan Stanley set a $65.00 price target on FOX in a research note on Tuesday, September 9th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company's stock. Based on data from MarketBeat, the stock has a consensus rating of "Hold" and an average target price of $56.47.

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.