Gulf International Bank UK Ltd Lowers Position in Fox Corporation $FOXA

Key Points

• Gulf International Bank UK Ltd reduced its holdings in Fox Corporation by 28.5% in Q1, now owning 15,047 shares valued at $851,000 after selling 6,000 shares.
• Brookfield reported an increase in dividends, raising it from $0.18 to $0.28 per share, with a payment date set for September 24th.
• Fox Corporation reported a 6.3% year-over-year revenue increase in its latest quarterly earnings, posting revenue of $3.29 billion and earnings per share of $1.27.

Gulf International Bank UK Ltd trimmed its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 28.5% during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,047 shares of the company's stock after selling 6,000 shares during the period. Gulf International Bank UK Ltd's holdings in FOX were worth $851,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXA. Mariner LLC boosted its stake in shares of FOX by 26.5% during the fourth quarter. Mariner LLC now owns 32,545 shares of the company's stock valued at $1,581,000 after purchasing an additional 6,814 shares in the last quarter. United Capital Financial Advisors LLC bought a new stake in FOX during the 4th quarter valued at $226,000. NewEdge Advisors LLC boosted its position in FOX by 390.4% during the 4th quarter. NewEdge Advisors LLC now owns 5,291 shares of the company's stock valued at $257,000 after acquiring an additional 4,212 shares in the last quarter. Canada Pension Plan Investment Board bought a new stake in FOX during the 4th quarter valued at $219,000. Finally, CANADA LIFE ASSURANCE Co boosted its position in FOX by 0.3% during the fourth quarter. CANADA LIFE ASSURANCE Co now owns 530,872 shares of the company's stock valued at $25,763,000 after purchasing an additional 1,571 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Insider Activity at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. 21.77% of the stock is owned by company insiders.

FOX Stock Performance

FOX stock traded up $0.1350 during trading hours on Thursday, hitting $59.1050. 891,117 shares of the stock traded hands, compared to its average volume of 3,939,537. 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 firm's 50 day moving average price is $55.92 and its 200-day moving average price is $54.14. The stock has a market capitalization of $26.33 billion, a price-to-earnings ratio of 12.04, a P/E/G ratio of 1.39 and a beta of 0.54. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $60.24.

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. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.FOX's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter in the prior year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

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

Wall Street Analysts Forecast Growth

A number of equities research analysts recently weighed in on the company. Wells Fargo & Company raised their price objective on FOX from $62.00 to $66.00 and gave the company an "overweight" rating in a research report on Thursday, August 14th. Barclays restated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Loop Capital lifted their price target on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, FOX currently has an average rating of "Hold" and a consensus target price of $56.20.

FOX 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.