Parallax Volatility Advisers L.P. Buys New Holdings in Fox Corporation $FOXA

Key Points

• Parallax Volatility Advisers L.P. has purchased 6,253 new shares of Fox Corporation (FOXA), valued at approximately $354,000, as part of their investment strategy according to a recent SEC filing.
• Fox Corporation announced a $0.28 dividend, an increase from the previous $0.18, to be paid on September 24th, reflecting a strong performance and a dividend yield of 93.0%.
• Fox Corporation's stock has seen significant interest from institutional investors, with over 52.52% of its stock owned by hedge funds and other institutional entities, indicating growing confidence in the company's outlook.

Parallax Volatility Advisers L.P. acquired a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm acquired 6,253 shares of the company's stock, valued at approximately $354,000.

Other hedge funds have also recently bought and sold shares of the company. Hemington Wealth Management increased its stake in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. MV Capital Management Inc. increased its stake 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 purchasing an additional 623 shares in the last quarter. Zions Bancorporation National Association UT purchased a new position in FOX in the 1st quarter valued at approximately $40,000. Sentry Investment Management LLC purchased a new position in FOX in the 1st quarter valued at approximately $43,000. Finally, Allworth Financial LP increased its stake in FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock valued at $45,000 after purchasing an additional 280 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of equities research analysts have commented on the company. Guggenheim reiterated a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Morgan Stanley set a $65.00 target price on FOX in a report on Tuesday. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Finally, Bank of America increased their target price on FOX from $60.00 to $65.00 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 issued a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $56.47.

FOX Trading Down 0.8%

Shares of FOXA stock traded down $0.48 during mid-day trading on Friday, hitting $58.25. 3,542,035 shares of the company's stock were exchanged, compared to its average volume of 3,067,539. Fox Corporation has a fifty-two week low of $39.08 and a fifty-two week high of $62.69. The stock has a 50-day simple moving average of $57.36 and a two-hundred day simple moving average of $54.65. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The stock has a market cap of $25.95 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.41 and a beta of 0.52.

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

FOX Increases Dividend

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

FOX Company 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.