Perpetual Ltd Purchases 99,667 Shares of Fox Corporation $FOX

Key Points

• Perpetual Ltd increased its FOX position by 174.1% in the third quarter, purchasing 99,667 shares and bringing its holdings to 156,900 shares valued at approximately $8.83 million.
• FOX has attracted additional institutional and insider support, including CEO Lachlan Murdoch’s purchase of 149,934 shares. Institutional investors own 26.41% of the company, while insiders own 23.06%.
• Analysts maintain a generally positive view, with FOX receiving an average “Buy” rating and a consensus price target of $77.67. The company also exceeded quarterly EPS and revenue expectations in its latest reported results.

Perpetual Ltd grew its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 174.1% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 156,900 shares of the company's stock after buying an additional 99,667 shares during the quarter. Perpetual Ltd's holdings in FOX were worth $8,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors have also made changes to their positions in FOX. Everhart Financial Group Inc. bought a new position in FOX during the third quarter valued at approximately $373,000. CX Institutional lifted its stake in FOX by 54.4% in the third quarter. CX Institutional now owns 2,898 shares of the company's stock valued at $163,000 after acquiring an additional 1,021 shares during the last quarter. QRG Capital Management Inc. grew its position in FOX by 2.6% in the second quarter. QRG Capital Management Inc. now owns 28,896 shares of the company's stock worth $1,354,000 after acquiring an additional 723 shares in the last quarter. Sequoia Financial Advisors LLC grew its position in FOX by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company's stock worth $311,000 after acquiring an additional 254 shares in the last quarter. Finally, National Pension Service grew its position in FOX by 56.2% in the second quarter. National Pension Service now owns 56,048 shares of the company's stock worth $2,625,000 after acquiring an additional 20,157 shares in the last quarter. Institutional investors own 26.41% of the company's stock.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan Murdoch bought 149,934 shares of the firm's 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 purchase, 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 acquisition was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Corporate insiders own 23.06% of the company's stock.

Analyst Upgrades and Downgrades

FOX has been the topic of a number of recent research reports. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a report on Friday, July 10th. Zacks Research raised shares of FOX from a "hold" rating to a "strong-buy" rating in a research note on Tuesday, October 6th. Wolfe Research set a $93.00 price objective on shares of FOX in a report on Thursday, August 20th. Citigroup started coverage on shares of FOX in a report on Monday, September 14th. They issued an "outperform" rating for the company. Finally, Guggenheim reissued a "buy" rating on shares of FOX in a research report on Tuesday, August 25th. Three equities research analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company's stock. Based on data from MarketBeat.com, the stock currently has an average rating of "Buy" and an average price target of $77.67.

FOX Stock Up 0.2%

FOX opened at $55.98 on Tuesday. The firm has a market cap of $23.49 billion, a P/E ratio of 14.62, a price-to-earnings-growth ratio of 1.45 and a beta of 0.63. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The business has a 50 day moving average price of $58.11 and a 200 day moving average price of $55.42. Fox Corporation has a twelve month low of $44.08 and a twelve month high of $68.18.

FOX (NASDAQ:FOX - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. Research analysts forecast that Fox Corporation will post 5.99 EPS for the current year.

FOX Dividend Announcement

The firm also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were given a dividend of $0.29 per share. This represents a dividend yield of 96.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. FOX's payout ratio is currently 15.14%.

About FOX

Fox Corporation NASDAQ: FOX is a U.S. media company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.

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