Northwest & Ethical Investments L.P. Acquires 8,248 Shares of Fox Corporation $FOXA

Key Points

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Northwest & Ethical Investments L.P. increased its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 42.0% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 27,895 shares of the company's stock after buying an additional 8,248 shares during the quarter. Northwest & Ethical Investments L.P.'s holdings in FOX were worth $1,579,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other institutional investors and hedge funds also recently made changes to their positions in the company. Hemington Wealth Management increased its stake in shares of FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after buying an additional 359 shares during the period. MV Capital Management Inc. increased its stake in shares of FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after buying an additional 623 shares during the period. Zions Bancorporation National Association UT acquired a new position in shares of FOX in the first quarter valued at approximately $40,000. Sentry Investment Management LLC acquired a new position in shares of FOX in the first quarter valued at approximately $43,000. Finally, Allworth Financial LP increased its stake in shares of FOX by 55.2% in the first 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 period. Institutional investors and hedge funds own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on the company. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Morgan Stanley increased their target price on FOX from $60.00 to $65.00 and gave the stock an "equal weight" rating in a report on Wednesday, August 6th. Wells Fargo & Company increased their target price on FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a report on Thursday, August 14th. Guggenheim reiterated a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Bank of America raised their price objective on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research note on Wednesday, June 25th. Nine research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat, FOX presently has a consensus rating of "Hold" and a consensus target price of $56.20.

Insider Activity

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction dated 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 owned 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.77% of the company's stock.

FOX Stock Performance

FOXA traded up $0.39 during trading hours on Friday, hitting $59.42. The stock had a trading volume of 2,847,112 shares, compared to its average volume of 3,939,127. The company's fifty day simple moving average is $56.02 and its 200 day simple moving average is $54.18. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $60.24. The stock has a market cap of $26.47 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.41 and a beta of 0.54. 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 (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping the consensus estimate of $1.01 by $0.26. The company had revenue of $3.29 billion during 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%.The firm's revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm posted $0.90 EPS. Equities analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared 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. This is a boost from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is 11.41%.

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.