Livforsakringsbolaget Skandia Omsesidigt Increases Position in Fox Corporation $FOXA

Key Points

• Livforsakringsbolaget Skandia Omsesidigt has increased its stake in Fox Corporation by 5.4%, purchasing an additional 12,150 shares, bringing its total to 237,050 shares worth approximately $13.3 million.
• Fox Corporation recently reported a strong quarter with earnings of $1.27 per share, exceeding estimates and a revenue growth of 6.3% year-over-year.
• The company increased its dividend from $0.18 to $0.28, set to be paid on September 24th, reflecting a solid yield and a low payout ratio of 11.41%.

Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 5.4% in the second quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 237,050 shares of the company's stock after buying an additional 12,150 shares during the period. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.05% of FOX worth $13,284,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Hemington Wealth Management increased its position in FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after buying an additional 359 shares in the last quarter. MV Capital Management Inc. lifted its position in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after acquiring an additional 623 shares in the last quarter. Zions Bancorporation National Association UT bought a new position in FOX in the 1st quarter valued at approximately $40,000. Sentry Investment Management LLC purchased a new stake in FOX during the 1st quarter valued at $43,000. Finally, Allworth Financial LP raised its stake in FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after buying an additional 280 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

Analyst Ratings Changes

FOXA has been the subject of a number of research reports. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Guggenheim restated a "buy" rating and issued a $62.00 price objective (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Morgan Stanley set a $65.00 price target on FOX in a research note on Tuesday, September 9th. Wall Street Zen downgraded shares of FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. Finally, UBS Group set a $65.00 price objective on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FOX currently has an average rating of "Hold" and a consensus price target of $56.47.

FOX Price Performance

Shares of FOX stock traded up $0.78 during trading hours on Friday, reaching $60.62. The stock had a trading volume of 9,054,455 shares, compared to its average volume of 3,428,069. The stock's 50 day moving average is $57.74 and its 200 day moving average is $54.74. The firm has a market capitalization of $27.01 billion, a PE ratio of 12.35, a PEG ratio of 1.43 and a beta of 0.52. Fox Corporation has a twelve month low of $40.20 and a twelve month high of $62.69. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55.

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

FOX Increases Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. This represents a dividend yield of 93.0%. This is an increase from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's payout ratio is currently 11.41%.

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.