Natixis Advisors LLC Has $2 Million Stock Holdings in Fox Corporation (NASDAQ:FOXA)

Key Points

• Natixis Advisors LLC significantly reduced its stake in Fox Corporation, selling 189,321 shares and lowering its holdings by 84.3%, leaving it with 35,376 shares valued at approximately $2 million.
• Fox Corporation recently reported earnings of $1.27 per share, surpassing analyst expectations of $1.01, with revenue of $3.29 billion for the quarter, marking a 6.3% year-over-year growth.
• The company announced an increased dividend of $0.28 per share, up from $0.18, to be paid on September 24th, 2023, indicating a consistent commitment to returning value to shareholders.

Natixis Advisors LLC lowered its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 84.3% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 35,376 shares of the company's stock after selling 189,321 shares during the quarter. Natixis Advisors LLC's holdings in FOX were worth $2,002,000 at the end of the most recent reporting period.

Other large investors have also recently bought and sold shares of the company. Assetmark Inc. raised its stake in shares of FOX by 752.1% during the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after purchasing an additional 1,722,616 shares in the last quarter. FMR LLC lifted its stake in 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 during the last quarter. Federated Hermes Inc. lifted its stake in 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 during the last quarter. Allianz Asset Management GmbH lifted its stake in 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 during the last quarter. Finally, Robeco Institutional Asset Management B.V. lifted its stake in 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 during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Buying and Selling at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction 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 owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Insiders own 21.77% of the company's stock.

Analysts Set New Price Targets

FOXA has been the subject of several recent analyst reports. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Bank of America increased their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Guggenheim restated a "buy" rating and issued a $62.00 price target (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Loop Capital increased their price target on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Finally, UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research note on Wednesday, June 25th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average price target of $55.93.

FOX Price Performance

Shares of NASDAQ FOXA traded up $1.63 during mid-day trading on Tuesday, reaching $56.13. The company had a trading volume of 2,564,848 shares, compared to its average volume of 3,976,360. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. Fox Corporation has a one year low of $38.72 and a one year high of $58.74. The firm has a market cap of $25.24 billion, a price-to-earnings ratio of 11.43, a PEG ratio of 1.29 and a beta of 0.54. The business's 50-day simple moving average is $55.38 and its 200 day simple moving average is $53.81.

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

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a boost from FOX's previous dividend of $0.18. FOX's payout ratio is presently 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.