Fox Corporation $FOXA Shares Acquired by Gotham Asset Management LLC

Key Points

• Gotham Asset Management LLC increased its holdings in Fox Corporation by 8.4%, acquiring an additional 36,451 shares during the first quarter, bringing its total ownership to approximately 472,170 shares valued at $26.7 million.
• Wall Street analysts have mixed reviews on Fox Corporation with nine recommending a "Buy," nine a "Hold," and one a "Sell," while the consensus price target stands at $56.20.
• Fox Corporation announced a boost in its dividend to $0.28 per share, payable on September 24, which raises the dividend yield to 93.0% from the previous $0.18.

Gotham Asset Management LLC increased its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 8.4% during the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 472,170 shares of the company's stock after acquiring an additional 36,451 shares during the quarter. Gotham Asset Management LLC owned about 0.10% of FOX worth $26,725,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. Cinctive Capital Management LP acquired a new position in FOX during the first quarter worth about $3,752,000. Clark Capital Management Group Inc. boosted its position in FOX by 46.9% during the first quarter. Clark Capital Management Group Inc. now owns 1,023,593 shares of the company's stock worth $57,935,000 after acquiring an additional 326,867 shares during the last quarter. AQR Capital Management LLC boosted its position in FOX by 101.6% during the first quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company's stock worth $78,381,000 after acquiring an additional 715,583 shares during the last quarter. Royal Bank of Canada raised its stake in FOX by 26.5% during the first quarter. Royal Bank of Canada now owns 303,521 shares of the company's stock worth $17,179,000 after purchasing an additional 63,538 shares during the period. Finally, Caption Management LLC raised its stake in FOX by 102.7% during the first quarter. Caption Management LLC now owns 78,487 shares of the company's stock worth $4,442,000 after purchasing an additional 39,766 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Down 6.1%

NASDAQ FOXA traded down $3.84 on Tuesday, hitting $58.64. 6,407,995 shares of the stock were exchanged, compared to its average volume of 3,873,729. 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 fifty-two week low of $38.72 and a fifty-two week high of $62.69. The company has a market cap of $26.13 billion, a PE ratio of 11.94, a PEG ratio of 1.47 and a beta of 0.52. The company has a 50-day moving average price of $57.17 and a 200-day moving average price of $54.60.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping 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 company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. During the same quarter in the previous year, the business posted $0.90 EPS. The firm's revenue was up 6.3% on a year-over-year basis. Sell-side analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued 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%.

Analyst Ratings Changes

A number of equities analysts have commented on the stock. Loop Capital lifted their target price on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Morgan Stanley set a $65.00 target price on shares of FOX in a research note on Tuesday. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Barclays reaffirmed an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average 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.