iA Global Asset Management Inc. Has $2.34 Million Position in Fox Corporation (NASDAQ:FOXA)

iA Global Asset Management Inc. lowered its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 13.9% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 41,302 shares of the company's stock after selling 6,695 shares during the quarter. iA Global Asset Management Inc.'s holdings in FOX were worth $2,338,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the company. Ruffer LLP grew its holdings in FOX by 7.3% during the first quarter. Ruffer LLP now owns 264,235 shares of the company's stock valued at $14,956,000 after purchasing an additional 18,060 shares during the period. IPG Investment Advisors LLC acquired a new position in shares of FOX in the first quarter valued at approximately $1,401,000. Scotia Capital Inc. acquired a new position in shares of FOX in the first quarter valued at approximately $1,297,000. Klein Pavlis & Peasley Financial Inc. acquired a new position in shares of FOX in the first quarter valued at approximately $277,000. Finally, Baker Avenue Asset Management LP acquired a new position in shares of FOX in the first quarter valued at approximately $295,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Analysts Set New Price Targets

Several research firms have recently weighed in on FOXA. Loop Capital upped their price target on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Bank of America upped their price target on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Finally, Cfra Research cut shares of FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company's stock. Based on data from MarketBeat, FOX has a consensus rating of "Hold" and an average price target of $53.82.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the 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 completion of the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.77% of the stock is currently owned by corporate insiders.

FOX Stock Performance

Shares of FOXA stock opened at $54.20 on Thursday. The stock has a market cap of $24.37 billion, a P/E ratio of 11.04, a P/E/G ratio of 1.22 and a beta of 0.54. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.33. The company has a fifty day moving average price of $55.42 and a two-hundred day moving average price of $53.61. Fox Corporation has a one year low of $38.52 and a one year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly 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 during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter last year, the company posted $0.90 earnings per share. As a group, equities analysts predict that Fox Corporation will post 4.38 EPS for the current 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 paid a $0.28 dividend. This is an increase from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is 11.00%.

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.

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