Invesco Ltd. Acquires 107,687 Shares of Fox Corporation (NASDAQ:FOXA)

Invesco Ltd. grew its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 3.0% in the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 3,680,293 shares of the company's stock after buying an additional 107,687 shares during the quarter. Invesco Ltd. owned 0.81% of FOX worth $208,305,000 at the end of the most recent quarter.

A number of other hedge funds have also made changes to their positions in FOXA. Assetmark Inc. lifted its stake in shares of FOX by 752.1% in the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after purchasing an additional 1,722,616 shares in the last quarter. FMR LLC lifted its stake in shares of FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after purchasing an additional 1,330,908 shares in the last quarter. Federated Hermes Inc. lifted its stake in shares of FOX by 164,675.7% in the 1st quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock valued at $71,066,000 after purchasing an additional 1,254,829 shares in the last quarter. Allianz Asset Management GmbH lifted its stake in shares of FOX by 85.4% in the 1st quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock valued at $92,914,000 after purchasing an additional 756,116 shares in the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in shares of FOX by 54.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock valued at $106,783,000 after purchasing an additional 668,553 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Price Performance

FOXA stock traded down $1.53 during trading on Friday, hitting $58.36. The company had a trading volume of 4,439,114 shares, compared to its average volume of 3,578,199. The company has a fifty day moving average price of $55.70 and a two-hundred day moving average price of $53.98. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The company has a market cap of $26.00 billion, a P/E ratio of 11.89, a P/E/G ratio of 1.43 and a beta of 0.54. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $60.24.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same quarter in the previous year, the company posted $0.90 EPS. The business's revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts expect that Fox Corporation will post 4.38 earnings per share 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 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%.

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on FOXA shares. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Morgan Stanley upped their price target on FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Guggenheim reissued a "buy" rating and set a $62.00 price target (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Bank of America upped their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX currently has an average rating of "Hold" and a consensus price target of $56.20.

Insider Buying and Selling at FOX

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

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.