UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC Increases Stake in Fox Corporation $FOXA

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 position in Fox Corporation (NASDAQ:FOXA - Free Report) by 1.2% in the 1st quarter, according to its most recent disclosure with the SEC. The fund owned 2,709,021 shares of the company's stock after buying an additional 32,144 shares during the period. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC owned approximately 0.60% of FOX worth $153,331,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of FOXA. Zurich Insurance Group Ltd FI purchased a new position in shares of FOX during the first quarter valued at approximately $3,328,000. Ascent Group LLC purchased a new position in shares of FOX during the first quarter valued at approximately $488,000. United Services Automobile Association purchased a new stake in FOX during the first quarter valued at approximately $334,000. Great Lakes Advisors LLC increased its holdings in FOX by 2.7% during the first quarter. Great Lakes Advisors LLC now owns 1,733,573 shares of the company's stock valued at $97,619,000 after buying an additional 45,058 shares during the last quarter. Finally, Caxton Associates LLP purchased a new stake in FOX during the first quarter valued at approximately $10,307,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

FOX stock traded up $0.84 during mid-day trading on Thursday, reaching $60.06. 1,629,197 shares of the company's stock traded hands, compared to its average volume of 3,895,153. The company has a market cap of $26.76 billion, a price-to-earnings ratio of 12.21, a PEG ratio of 1.38 and a beta of 0.52. The stock has a 50 day moving average of $57.56 and a two-hundred day moving average of $54.69. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Fox Corporation has a 12-month low of $40.20 and a 12-month high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last announced 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. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the prior year, the firm posted $0.90 earnings per share. The business's revenue for the quarter was up 6.3% on a year-over-year basis. Equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is currently 11.41%.

Analysts Set New Price Targets

A number of brokerages have commented on FOXA. Bank of America upped their target price on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wall Street Zen cut shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Wells Fargo & Company upped their target price on shares of FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Morgan Stanley set a $65.00 price target on shares of FOX in a research report on Tuesday, September 9th. Finally, UBS Group set a $65.00 price target on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company's stock. According to MarketBeat.com, the company has an average rating of "Hold" and an average price target of $56.47.

About FOX

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.