Jacobs Levy Equity Management Inc. Sells 120,425 Shares of Fox Corporation $FOXA

Jacobs Levy Equity Management Inc. cut its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 39.1% in the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 187,943 shares of the company's stock after selling 120,425 shares during the period. Jacobs Levy Equity Management Inc.'s holdings in FOX were worth $10,638,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. grew its holdings in shares of FOX by 2.1% in the first quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company's stock valued at $1,456,863,000 after acquiring an additional 518,835 shares in the last quarter. Invesco Ltd. grew its holdings in FOX by 3.0% during the first quarter. Invesco Ltd. now owns 3,680,293 shares of the company's stock valued at $208,305,000 after purchasing an additional 107,687 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its holdings in FOX by 8.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after purchasing an additional 219,016 shares during the period. AustralianSuper Pty Ltd grew its holdings in FOX by 8.8% during the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock valued at $149,218,000 after purchasing an additional 212,348 shares during the period. Finally, KBC Group NV grew its holdings in FOX by 1.3% during the first quarter. KBC Group NV now owns 2,397,604 shares of the company's stock valued at $135,704,000 after purchasing an additional 29,906 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Price Performance

NASDAQ FOXA traded down $0.48 during trading hours on Friday, reaching $58.25. 3,542,035 shares of the stock traded hands, compared to its average volume of 3,067,539. The stock has a 50 day simple moving average of $57.36 and a two-hundred day simple moving average of $54.65. Fox Corporation has a 1 year low of $39.08 and a 1 year high of $62.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The company has a market cap of $25.95 billion, a price-to-earnings ratio of 11.86, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52.

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

FOX Increases Dividend

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

Analyst Ratings Changes

Several equities analysts have weighed in on FOXA shares. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a report on Tuesday, August 5th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Guggenheim restated 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. Morgan Stanley set a $65.00 target price on FOX in a research report on Tuesday. Finally, Wall Street Zen downgraded FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the company's stock. According to data from MarketBeat, FOX has an average rating of "Hold" and a consensus price target of $56.47.

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.