MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. Acquires 51,960 Shares of Fox Corporation $FOXA

Key Points

• MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. increased its position in Fox Corporation by 246.9%, owning 73,009 shares worth $4,132,000 as of their latest SEC filing.
• Fox Corporation has received positive ratings from several analysts, with Guggenheim setting a target price of $62.00 and Wells Fargo increasing theirs from $66.00 to $70.00.
• Fox Corporation reported a quarterly earnings per share (EPS) of $1.27, surpassing the analysts' estimate of $1.01, and announced a dividend increase to $0.28 per share.

MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. boosted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 246.9% in the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 73,009 shares of the company's stock after purchasing an additional 51,960 shares during the period. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd.'s holdings in FOX were worth $4,132,000 as of its most recent filing with the SEC.

Several other large investors have also recently bought and sold shares of FOXA. Assetmark Inc. boosted its position in FOX by 752.1% during the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after purchasing an additional 1,722,616 shares during the last quarter. Federated Hermes Inc. boosted its position in FOX by 164,675.7% during the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock valued at $71,066,000 after purchasing an additional 1,254,829 shares during the last quarter. Nuveen LLC acquired a new position in FOX during the first quarter valued at approximately $63,125,000. Junto Capital Management LP acquired a new position in FOX during the first quarter valued at approximately $53,681,000. Finally, Ameriprise Financial Inc. raised its stake in FOX by 537.0% in the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock valued at $59,909,000 after buying an additional 892,437 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

NASDAQ FOXA traded up $1.91 during midday trading on Wednesday, hitting $59.38. The company had a trading volume of 791,719 shares, compared to its average volume of 3,885,785. The company has a market capitalization of $26.46 billion, a PE ratio of 12.07, a P/E/G 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 firm has a 50-day moving average price of $57.48 and a 200-day moving average price of $54.66. Fox Corporation has a twelve month low of $40.20 and a twelve month high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations 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% compared to the same quarter last year. During the same period in the previous year, the firm earned $0.90 EPS. As a group, analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. This represents a dividend 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 is 11.41%.

Analyst Ratings Changes

Several analysts have issued reports on the company. Bank of America upped their price objective on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. UBS Group set a $65.00 price objective on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. Wells Fargo & Company upped their price objective on FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a research note on Monday, September 8th. Finally, Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock currently has an average rating of "Hold" and an average target price 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.