Invst LLC Sells 5,032 Shares of Fox Corporation $FOXA

Key Points

• Invst LLC reduced its stake in Fox Corporation by 27.4%, selling 5,032 shares and holding 13,348 shares worth approximately $756,000 as of its latest SEC filing.
• Fox Corporation recently increased its quarterly dividend from $0.18 to $0.28, with the payment date set for September 24th, reflecting strong financial performance with a net margin of 13.88%.
• Analysts have raised their price targets for FOX, with Morgan Stanley setting an objective of $65.00, and the stock currently holds a consensus rating of "Hold" with a price target of $56.47.

Invst LLC trimmed its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 27.4% in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 13,348 shares of the company's stock after selling 5,032 shares during the quarter. Invst LLC's holdings in FOX were worth $756,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors also recently made changes to their positions in the stock. Assetmark Inc. increased its position in FOX by 752.1% during the 1st 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 period. Federated Hermes Inc. lifted its position in shares of FOX by 164,675.7% in the 1st quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock worth $71,066,000 after purchasing an additional 1,254,829 shares during the period. Nuveen LLC bought a new stake in shares of FOX in the 1st quarter valued at $63,125,000. Junto Capital Management LP bought a new stake in shares of FOX in the 1st quarter valued at $53,681,000. Finally, Ameriprise Financial Inc. increased its position in shares of FOX by 537.0% during the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock worth $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.

Wall Street Analyst Weigh In

Several equities analysts recently issued reports on the stock. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Guggenheim reissued a "buy" rating and issued a $62.00 price objective (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Morgan Stanley set a $65.00 target price on FOX in a research report on Tuesday, September 9th. Bank of America lifted their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat, FOX currently has a consensus rating of "Hold" and a consensus price target of $56.47.

FOX Stock Up 0.9%

NASDAQ:FOXA traded up $0.52 on Monday, hitting $58.77. The stock had a trading volume of 4,956,144 shares, compared to its average volume of 3,022,711. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Fox Corporation has a 52 week low of $39.35 and a 52 week high of $62.69. The business's fifty day moving average is $57.43 and its 200 day moving average is $54.64. The company has a market cap of $26.18 billion, a PE ratio of 11.97, a P/E/G ratio of 1.40 and a beta of 0.52.

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

FOX Increases Dividend

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

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.