Fox Corporation $FOXA Shares Purchased by Janney Montgomery Scott LLC

Key Points

• Janney Montgomery Scott LLC increased its holdings in Fox Corporation (NASDAQ: FOXA) by 26.0% during the second quarter, owning 40,075 shares valued at approximately $2.25 million.
• Fox Corporation recently increased its dividend to $0.28 per share, a significant rise from the previous $0.18, with an ex-dividend date on September 3rd.
• The company reported a net margin of 13.88% for the last quarter, along with an EPS of $1.27, surpassing analysts' expectations.

Janney Montgomery Scott LLC increased its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 26.0% in the second quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 40,075 shares of the company's stock after acquiring an additional 8,281 shares during the period. Janney Montgomery Scott LLC's holdings in FOX were worth $2,246,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also added to or reduced their stakes in the company. Greenleaf Trust raised its position in FOX by 3.1% during the first quarter. Greenleaf Trust now owns 6,778 shares of the company's stock valued at $384,000 after acquiring an additional 205 shares in the last quarter. Allworth Financial LP grew its stake in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares during the period. Linden Thomas Advisory Services LLC increased its holdings in shares of FOX by 0.6% during the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company's stock valued at $2,823,000 after purchasing an additional 293 shares in the last quarter. State of Alaska Department of Revenue increased its holdings in shares of FOX by 1.2% during the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company's stock valued at $1,444,000 after purchasing an additional 305 shares in the last quarter. Finally, Hemington Wealth Management lifted its stake in shares of FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

NASDAQ:FOXA opened at $57.27 on Friday. The company's 50-day moving average is $59.27 and its two-hundred day moving average is $55.53. The firm has a market capitalization of $25.52 billion, a price-to-earnings ratio of 11.66, a PEG ratio of 1.39 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 1-year low of $41.30 and a 1-year high of $65.30.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.01 by $0.26. The firm 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 business's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the prior year, the business posted $0.90 EPS. Analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

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

Analyst Upgrades and Downgrades

Several analysts recently commented on the stock. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Wells Fargo & Company increased their target price on shares of FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday, September 8th. UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen cut FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, Bank of America raised their price objective on FOX from $65.00 to $70.00 and gave the company a "buy" rating in a report on Friday, September 26th. Nine investment analysts have rated the stock with a Buy rating and nine have given a Hold rating to the company. Based on data from MarketBeat, FOX has a consensus rating of "Moderate Buy" and an average price target of $57.60.

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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