Fox Corporation $FOXA Shares Bought by Caisse DE Depot ET Placement DU Quebec

Key Points

• Caisse DE Depot ET Placement DU Quebec increased its holdings in Fox Corporation by 60.4%, owning 749,394 shares valued at approximately $42.4 million as of the latest SEC filing.
• Fox Corporation announced a dividend increase from $0.18 to $0.28 per share, with the payment date set for September 24th.
• The company reported $1.27 EPS for the last quarter, significantly beating analyst expectations, and revenue increased by 6.3% year-over-year.

Caisse DE Depot ET Placement DU Quebec grew its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 60.4% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 749,394 shares of the company's stock after purchasing an additional 282,144 shares during the period. Caisse DE Depot ET Placement DU Quebec owned about 0.17% of FOX worth $42,416,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in FOXA. CWM LLC grew its holdings in shares of FOX by 8.6% in the first quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after purchasing an additional 527 shares in the last quarter. Sequoia Financial Advisors LLC boosted its position in FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after buying an additional 464 shares during the period. Private Trust Co. NA grew its stake in shares of FOX by 86.5% in the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares in the last quarter. HB Wealth Management LLC acquired a new position in shares of FOX in the first quarter worth $420,000. Finally, Janney Montgomery Scott LLC increased its position in shares of FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after acquiring an additional 19,181 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the transaction, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.77% of the stock is currently owned by company insiders.

FOX Price Performance

Shares of NASDAQ FOXA opened at $59.07 on Wednesday. The stock's 50-day simple moving average is $56.33 and its 200-day simple moving average is $54.30. The firm has a market capitalization of $26.32 billion, a PE ratio of 12.03, a price-to-earnings-growth ratio of 1.43 and a beta of 0.54. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $60.24. 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 announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating 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 net margin of 13.88% and a return on equity of 18.86%. The firm's revenue was up 6.3% on a year-over-year basis. During the same period in the prior year, the firm posted $0.90 earnings per share. As a group, equities research analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal 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 paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is 11.00%.

Analyst Ratings Changes

Several research firms recently commented on FOXA. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Morgan Stanley upped their target price on shares of FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a research note on Wednesday, August 6th. Wells Fargo & Company lifted their price target on shares of FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Finally, Bank of America boosted their price target on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $56.20.

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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