Gamco Investors INC. ET AL Sells 10,875 Shares of Fox Corporation $FOXA

Key Points

• Gamco Investors INC. ET AL reduced its holdings in Fox Corporation by 2.7% during Q1, now owning approximately 393,506 shares valued at $22.27 million.
• Fox Corporation recently posted earnings per share of $1.27, surpassing analysts' expectations, and reported a 6.3% increase in quarterly revenue year-over-year.
• The company announced a dividend increase to $0.28 per share, which will be paid on September 24th, up from the previous $0.18 per share.

Gamco Investors INC. ET AL lowered its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 2.7% in the first quarter, according to its most recent disclosure with the SEC. The fund owned 393,506 shares of the company's stock after selling 10,875 shares during the period. Gamco Investors INC. ET AL owned approximately 0.09% of FOX worth $22,272,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FOXA. NewEdge Advisors LLC raised its position in shares of FOX by 390.4% during the fourth quarter. NewEdge Advisors LLC now owns 5,291 shares of the company's stock valued at $257,000 after buying an additional 4,212 shares during the last quarter. Pinebridge Investments L.P. acquired a new position in FOX in the fourth quarter worth about $1,902,000. Integrated Wealth Concepts LLC acquired a new position in FOX in the fourth quarter worth about $813,000. Nebula Research & Development LLC acquired a new position in FOX in the fourth quarter worth about $525,000. Finally, Boothbay Fund Management LLC acquired a new position in FOX in the fourth quarter worth about $206,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $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 is available through this link. 21.77% of the stock is owned by company insiders.

FOX Price Performance

FOX stock traded down $0.06 during trading hours on Thursday, hitting $59.46. 1,775,513 shares of the stock were exchanged, compared to its average volume of 3,742,283. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The stock has a market capitalization of $26.49 billion, a P/E ratio of 12.11, a P/E/G ratio of 1.43 and a beta of 0.54. Fox Corporation has a 12 month low of $38.72 and a 12 month high of $60.24. The business's 50-day moving average is $56.52 and its two-hundred day moving average is $54.38.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results 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 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 prior year, the firm earned $0.90 earnings per share. FOX's revenue was up 6.3% compared to the same quarter last year. Equities research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This represents a dividend yield of 94.0%. 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 Analyst Weigh In

Several research analysts recently issued reports on FOXA shares. Bank of America increased their price target on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Guggenheim reissued a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Loop Capital increased their price target on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. UBS Group set a $65.00 price target on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Finally, Barclays reissued an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of "Hold" and a consensus price target of $56.20.

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.