Nykredit A S Purchases Shares of 78,922 Fox Corporation $FOXA

Key Points

• Nykredit A/S purchased 78,922 shares of Fox Corporation in the second quarter, worth approximately $4.1 million. Institutional investors collectively own 52.52% of FOX’s outstanding shares.
• Analyst sentiment remains mixed: nine analysts rate FOX a Buy, eight a Hold and one a Sell, resulting in a consensus Hold rating and an average price target of $74.38.
• Fox reported stronger-than-expected quarterly results, with earnings of $1.79 per share and revenue of $4.21 billion, up 28.1% year over year. The company also declared a $0.29-per-share dividend.

Nykredit A S bought a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the second quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 78,922 shares of the company's stock, valued at approximately $4,117,000.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Ameriprise Financial Inc. lifted its stake in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company's stock worth $101,948,000 after purchasing an additional 762,645 shares during the period. SG Americas Securities LLC boosted its position in FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company's stock valued at $29,890,000 after buying an additional 383,782 shares during the last quarter. Lazard Asset Management LLC boosted its stake in shares of FOX by 624.5% during the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company's stock valued at $15,753,000 after buying an additional 242,321 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S increased its holdings in FOX by 150.9% in the fourth quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company's stock valued at $27,601,000 after buying an additional 227,209 shares during the last quarter. Finally, Andra AP fonden lifted its holdings in FOX by 208.1% in the first quarter. Andra AP fonden now owns 247,000 shares of the company's stock worth $14,425,000 after acquiring an additional 166,822 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on the company. Wall Street Zen upgraded FOX from a "hold" rating to a "buy" rating in a research report on Saturday, August 15th. Seaport Research Partners lowered shares of FOX from a "buy" rating to a "neutral" rating in a research report on Friday, August 7th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and issued a $80.00 target price on shares of FOX in a research note on Friday, August 14th. Guggenheim reissued a "buy" rating and issued a $85.00 target price on shares of FOX in a report on Tuesday, August 25th. Finally, UBS Group reaffirmed a "neutral" rating on shares of FOX in a report on Monday, June 15th. Nine 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 company. According to data from MarketBeat, FOX has a consensus rating of "Hold" and an average target price of $74.38.

FOX Price Performance

Shares of FOXA stock opened at $65.42 on Monday. The firm has a fifty day moving average of $60.84 and a 200-day moving average of $60.60. Fox Corporation has a 12-month low of $48.34 and a 12-month high of $76.39. The company has a market capitalization of $27.45 billion, a price-to-earnings ratio of 17.08, a P/E/G ratio of 1.18 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.

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

FOX Dividend Announcement

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 $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX's dividend payout ratio is currently 15.14%.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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