Fox Corporation $FOXA Shares Purchased by National Bank of Canada FI

National Bank of Canada FI boosted its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 115.2% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 128,524 shares of the company's stock after acquiring an additional 68,808 shares during the period. National Bank of Canada FI's holdings in FOX were worth $7,275,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXA. Assetmark Inc. raised its position in FOX by 752.1% during the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after acquiring an additional 1,722,616 shares during the last quarter. FMR LLC grew its holdings in shares of FOX by 240.2% during the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after buying an additional 1,330,908 shares in the last quarter. Federated Hermes Inc. grew its holdings in shares of FOX by 164,675.7% during the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock worth $71,066,000 after buying an additional 1,254,829 shares in the last quarter. Allianz Asset Management GmbH grew its holdings in shares of FOX by 85.4% during the first quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock worth $92,914,000 after buying an additional 756,116 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. grew its holdings in shares of FOX by 54.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock worth $106,783,000 after buying an additional 668,553 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Insiders own 21.77% of the company's stock.

FOX Trading Down 1.7%

FOXA traded down $0.98 during trading on Monday, hitting $57.38. 876,734 shares of the company's stock were exchanged, compared to its average volume of 3,964,385. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $60.24. The stock has a 50 day moving average price of $55.70 and a 200 day moving average price of $54.03. The firm has a market cap of $25.57 billion, a P/E ratio of 11.69, a price-to-earnings-growth ratio of 1.40 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping 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 analysts' expectations of $3.12 billion. During the same period in the previous year, the company posted $0.90 earnings per share. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is an increase from FOX's previous dividend of $0.18. FOX's dividend payout ratio is presently 11.00%.

Analyst Upgrades and Downgrades

A number of equities research analysts have recently commented on FOXA shares. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Bank of America lifted their price target on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company boosted their target price on shares of FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a report on Thursday. Finally, UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat, FOX presently has an average rating of "Hold" and an average target price of $56.20.

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.