Fox Corporation $FOXA Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. lowered its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 39.1% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 187,943 shares of the company's stock after selling 120,425 shares during the quarter. Jacobs Levy Equity Management Inc.'s holdings in FOX were worth $10,638,000 as of its most recent filing with the SEC.

A number of other hedge funds have also recently bought and sold shares of FOXA. Hemington Wealth Management boosted its position in FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after acquiring an additional 359 shares during the last quarter. MV Capital Management Inc. boosted its position in FOX by 929.9% during the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after acquiring an additional 623 shares during the last quarter. Zions Bancorporation National Association UT acquired a new stake in FOX during the first quarter worth approximately $40,000. Sentry Investment Management LLC acquired a new stake in FOX during the first quarter worth approximately $43,000. Finally, Allworth Financial LP boosted its position in FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after acquiring an additional 280 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Trading Up 2.7%

Shares of FOXA stock traded up $1.54 during mid-day trading on Thursday, reaching $58.73. The company's stock had a trading volume of 5,408,471 shares, compared to its average volume of 3,898,988. The company's 50 day simple moving average is $57.27 and its 200-day simple moving average is $54.65. Fox Corporation has a 12-month low of $38.72 and a 12-month high of $62.69. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.17 billion, a PE ratio of 11.96, a price-to-earnings-growth ratio of 1.40 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, beating analysts' consensus estimates 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 last year, the firm posted $0.90 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. On average, research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders 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 represents a dividend yield of 93.0%. This is a boost from FOX's previous dividend of $0.18. FOX's payout ratio is 11.41%.

Analyst Ratings Changes

A number of analysts recently issued reports on FOXA shares. UBS Group set a $65.00 target price on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Bank of America lifted their price target on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Morgan Stanley set a $65.00 price target on shares of FOX in a report on Tuesday. Guggenheim reiterated a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Wells Fargo & Company lifted their price target on shares of FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a report on Monday. 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. Based on data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price 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.