Nykredit A S Purchases Shares of 66,822 Fox Corporation $FOXA

Key Points

• Nykredit A/S acquired 66,822 shares of Fox Corporation in the second quarter, valued at approximately $3.5 million. Institutional investors collectively own 52.52% of FOXA’s outstanding shares.
• CEO Lachlan Murdoch purchased 149,934 shares for roughly $10.3 million, increasing his direct ownership by 11.98%; insiders now own 20.89% of the company.
• FOX exceeded quarterly expectations with earnings of $1.79 per share and revenue of $4.21 billion, while analysts maintain a consensus “Hold” rating and an average price target of $76.35.

Nykredit A S acquired a new position in Fox Corporation (NASDAQ:FOXA - Free Report) in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 66,822 shares of the company's stock, valued at approximately $3,485,000.

Several other hedge funds and other institutional investors have also added to or reduced their stakes in FOXA. Wilkerson Advisory Group LLC lifted its stake in FOX by 50.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company's stock worth $84,000 after purchasing an additional 482 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company's stock worth $85,000 after buying an additional 251 shares during the period. TD Waterhouse Canada Inc. lifted its stake in FOX by 2,503.4% in the second quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company's stock worth $80,000 after purchasing an additional 1,477 shares during the last quarter. Groupe la Francaise bought a new stake in shares of FOX during the 2nd quarter worth approximately $99,000. Finally, DGS Capital Management LLC purchased a new stake in shares of FOX during the fourth quarter valued at $266,000. 52.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FOXA. Zacks Research cut shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Wednesday, August 5th. Citigroup initiated coverage on shares of FOX in a report on Monday, September 14th. They set an "outperform" rating for the company. JPMorgan Chase & Co. upgraded shares of FOX from a "neutral" rating to an "overweight" rating and upped their price objective for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Wells Fargo & Company upgraded FOX from an "equal weight" rating to an "overweight" rating and boosted their price objective for the stock from $65.00 to $80.00 in a research note on Friday, August 14th. Finally, Wall Street Zen raised FOX from a "hold" rating to a "buy" rating in a report on Saturday, August 15th. Ten equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company currently has a consensus rating of "Hold" and an average target price of $76.35.

Insider Activity at FOX

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of FOX stock in a transaction that occurred on Tuesday, September 15th. The stock was purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. 20.89% of the stock is owned by insiders.

FOX Stock Performance

Shares of FOXA stock opened at $64.25 on Wednesday. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The stock has a market capitalization of $26.96 billion, a PE ratio of 16.78, a P/E/G ratio of 1.15 and a beta of 0.55. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The firm has a 50 day moving average of $63.52 and a two-hundred day moving average of $61.36.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same period in the prior year, the firm earned $1.27 earnings per share. The business's quarterly revenue was up 28.1% compared to the same quarter last year. On average, research analysts predict that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX's dividend payout ratio (DPR) is presently 15.14%.

About FOX

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to contact@marketbeat.com.