Fox Corporation $FOXA Shares Bought by National Pension Service

Key Points

• National Pension Service increased its Fox Corporation stake by 50.6% in the second quarter, bringing its holdings to 71,860 shares valued at approximately $3.75 million. Institutional investors collectively own 52.52% of FOX.
• Analyst sentiment remains mixed: Wells Fargo and Wolfe Research upgraded the stock, while Seaport Research downgraded it. FOX has a consensus rating of Hold and an average price target of $74.38.
• Fox reported strong quarterly results, with EPS of $1.79 beating estimates by $0.35 and revenue rising 28.1% year over year to $4.21 billion. The company also declared a $0.29-per-share dividend.

National Pension Service lifted its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 50.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 71,860 shares of the company's stock after buying an additional 24,154 shares during the quarter. National Pension Service's holdings in FOX were worth $3,748,000 at the end of the most recent quarter.

A number of other institutional investors have also modified their holdings of the company. Geneos Wealth Management Inc. grew its stake in FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock worth $52,000 after acquiring an additional 621 shares during the period. EverSource Wealth Advisors LLC lifted its stake in shares of FOX by 286.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company's stock worth $77,000 after purchasing an additional 1,014 shares during the period. Baird Financial Group Inc. boosted its holdings in shares of FOX by 19.7% during the second quarter. Baird Financial Group Inc. now owns 17,500 shares of the company's stock worth $981,000 after purchasing an additional 2,876 shares during the last quarter. California State Teachers Retirement System grew its position in shares of FOX by 16.6% in the second quarter. California State Teachers Retirement System now owns 350,844 shares of the company's stock valued at $19,661,000 after purchasing an additional 49,963 shares during the period. Finally, Ameriprise Financial Inc. increased its stake in FOX by 72.0% in the second quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock valued at $101,948,000 after purchasing an additional 762,645 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Analyst Ratings Changes

FOXA has been the topic of a number of research analyst reports. Seaport Research Partners lowered FOX from a "buy" rating to a "neutral" rating in a research note on Friday, August 7th. Wells Fargo & Company upgraded shares of FOX from an "equal weight" rating to an "overweight" rating and increased their price objective for the stock from $65.00 to $80.00 in a report on Friday, August 14th. Wolfe Research upgraded shares of FOX from a "peer perform" rating to an "outperform" rating and set a $71.00 target price for the company in a report on Tuesday, June 30th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the stock a "buy" rating in a research report on Friday, July 10th. Finally, Barclays decreased their price target on shares of FOX from $67.00 to $60.00 and set an "equal weight" rating on the stock in a report on Monday, June 15th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $74.38.

FOX Stock Performance

FOX stock opened at $65.94 on Monday. The stock's 50 day moving average price is $61.96 and its 200 day moving average price is $60.90. The firm has a market capitalization of $27.67 billion, a PE ratio of 17.22, a price-to-earnings-growth ratio of 1.18 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. Fox Corporation has a one year low of $48.34 and a one year high of $76.39.

FOX (NASDAQ:FOXA - 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, beating the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX's revenue for the quarter was up 28.1% on a year-over-year basis. During the same quarter last year, the company earned $1.27 earnings per share. As a group, sell-side analysts expect that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be issued a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a yield of 86.0%. FOX's dividend payout ratio is currently 15.14%.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

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