Fox Corporation $FOXA Shares Bought by UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC

Key Points

• UBS Asset Management increased its stake in Fox Corporation ($FOXA) by 1.2% during the 1st quarter, owning approximately 2.7 million shares worth $153.3 million.
• Fox Corporation reported earnings of $1.27 per share for the latest quarter, surpassing analyst expectations of $1.01, while also experiencing a revenue increase of 6.3% year-over-year.
• The company announced a dividend increase from $0.18 to $0.28 per share, with the upcoming dividend set to be paid on September 24, representing a yield of 93.0%.

UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC grew its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 1.2% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 2,709,021 shares of the company's stock after purchasing an additional 32,144 shares during the quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.60% of FOX worth $153,331,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Zurich Insurance Group Ltd FI purchased a new position in shares of FOX during the 1st quarter worth $3,328,000. Ascent Group LLC purchased a new position in shares of FOX during the 1st quarter worth $488,000. United Services Automobile Association purchased a new position in shares of FOX during the 1st quarter worth $334,000. Great Lakes Advisors LLC raised its holdings in shares of FOX by 2.7% during the 1st quarter. Great Lakes Advisors LLC now owns 1,733,573 shares of the company's stock worth $97,619,000 after acquiring an additional 45,058 shares during the period. Finally, Caxton Associates LLP purchased a new position in shares of FOX during the 1st quarter worth $10,307,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have recently commented on the company. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Bank of America lifted their price target on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Morgan Stanley set a $65.00 price objective on shares of FOX in a report on Tuesday. Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Wells Fargo & Company boosted their price objective on shares of FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $56.47.

FOX Stock Down 0.8%

Shares of FOXA opened at $58.25 on Friday. The firm has a market cap of $25.95 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The company's 50-day moving average price is $57.36 and its 200 day moving average price is $54.66. Fox Corporation has a 12-month low of $39.08 and a 12-month high of $62.69.

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

FOX Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This is a boost 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 presently 11.41%.

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.

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