Public Employees Retirement System of Ohio Purchases Shares of 70,967 Fox Corporation $FOX

Key Points

• Public Employees Retirement System of Ohio purchased 70,967 Fox Corporation shares worth approximately $3.7 million, while institutional investors and hedge funds collectively own 26.41% of FOX.
• FOX reported quarterly earnings of $1.79 per share, beating estimates of $1.44, while revenue reached $4.21 billion versus the $3.64 billion consensus forecast.
• Analysts maintain a generally positive outlook, with FOX holding a “Moderate Buy” consensus rating and an average price target of $77.89, compared with a recent share price of $60.47.

Public Employees Retirement System of Ohio purchased a new stake in Fox Corporation (NASDAQ:FOX - Free Report) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund purchased 70,967 shares of the company's stock, valued at approximately $3,702,000.

Several other large investors have also recently made changes to their positions in FOX. Marshall Wace LLP increased its holdings in FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company's stock valued at $182,448,000 after purchasing an additional 2,827,768 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in FOX during the second quarter worth $35,047,000. Bank of New York Mellon Corp boosted its position in shares of FOX by 1.5% during the fourth quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company's stock worth $43,296,000 after buying an additional 10,165 shares during the period. Gamco Investors INC. ET AL boosted its position in shares of FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company's stock worth $31,073,000 after buying an additional 53,166 shares during the period. Finally, Gabelli Funds LLC grew its stake in shares of FOX by 2.3% in the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company's stock valued at $30,787,000 after buying an additional 13,200 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Up 0.3%

Shares of NASDAQ FOX opened at $60.47 on Friday. The stock has a market cap of $25.38 billion, a P/E ratio of 15.79, a PEG ratio of 1.65 and a beta of 0.58. The business's fifty day simple moving average is $54.14 and its 200-day simple moving average is $54.45. Fox Corporation has a 12-month low of $44.08 and a 12-month high of $68.18. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Thursday, August 6th. The company reported $1.79 EPS 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 firm had revenue of $4.21 billion during the quarter, compared to analysts' expectations of $3.64 billion. As a group, equities analysts predict that Fox Corporation will post 5.91 EPS for the current fiscal year.

FOX Dividend Announcement

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

Wall Street Analysts Forecast Growth

Several equities research analysts recently issued reports on the company. Citigroup reiterated a "buy" rating on shares of FOX in a report on Friday, July 17th. Weiss Ratings downgraded FOX from a "buy (b-)" rating to a "hold (c+)" rating in a research report on Wednesday, August 26th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research note on Friday, July 10th. JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and increased their price target for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Finally, Wells Fargo & Company raised shares of FOX from a "hold" rating to an "overweight" rating and set a $80.00 price objective for the company in a research note on Friday, August 14th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, two have issued a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, FOX currently has a consensus rating of "Moderate Buy" and an average price target of $77.89.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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.