Fox Corporation $FOXA Shares Purchased by HAP Trading LLC

Key Points

• HAP Trading LLC increased its stake in Fox Corporation by 87.5%, owning 26,169 shares valued at approximately $1.48 million as of its latest SEC filing.
• Fox Corporation announced a dividend increase to $0.28 per share, up from $0.18, with a payout ratio of 11%.
• The company reported a quarterly EPS of $1.27 and revenues of $3.29 billion, exceeding analyst expectations and reflecting a 6.3% year-over-year growth.

HAP Trading LLC boosted its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 87.5% during the 1st quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 26,169 shares of the company's stock after acquiring an additional 12,214 shares during the period. HAP Trading LLC's holdings in FOX were worth $1,481,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. FORA Capital LLC acquired a new position in FOX in the 1st quarter valued at about $1,816,000. Caisse DE Depot ET Placement DU Quebec increased its position in FOX by 60.4% in the 1st quarter. Caisse DE Depot ET Placement DU Quebec now owns 749,394 shares of the company's stock valued at $42,416,000 after acquiring an additional 282,144 shares during the period. Virtus Advisers LLC acquired a new position in FOX in the 1st quarter valued at about $292,000. Freedom Investment Management Inc. acquired a new position in FOX in the 1st quarter valued at about $1,347,000. Finally, SVB Wealth LLC acquired a new position in FOX in the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders own 21.77% of the company's stock.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $59.52 on Thursday. The business's 50 day simple moving average is $56.42 and its 200-day simple moving average is $54.34. The firm has a market capitalization of $26.52 billion, a price-to-earnings ratio of 12.12, a price-to-earnings-growth ratio of 1.42 and a beta of 0.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. Fox Corporation has a 12 month low of $38.72 and a 12 month high of $60.24.

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, topping the consensus estimate of $1.01 by $0.26. The business 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 company's quarterly revenue was up 6.3% on a year-over-year basis. During the same quarter in the previous year, the company earned $0.90 EPS. As a group, equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio is currently 11.00%.

Analysts Set New Price Targets

Several research firms have issued reports on FOXA. Loop Capital boosted their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Bank of America boosted their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Finally, Guggenheim reiterated a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target 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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