Fox Corporation $FOXA Holdings Decreased by Raymond James Financial Inc.

Key Points

• Raymond James Financial Inc. has reduced its holdings in Fox Corporation by 22.3%, now owning 174,548 shares worth approximately $9.88 million.
• Fox Corporation recently raised its dividend from $0.18 to $0.28, with a payout ratio of 11.00%, representing a significant increase.
• Equities research analysts have mixed ratings for Fox Corporation, with nine analysts rating it as a Buy, nine as a Hold, and a target price consensus of $56.20.

Raymond James Financial Inc. lowered its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 22.3% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 174,548 shares of the company's stock after selling 50,194 shares during the period. Raymond James Financial Inc.'s holdings in FOX were worth $9,879,000 as of its most recent SEC filing.

Other hedge funds also recently made changes to their positions in the company. CWM LLC raised its stake in shares of FOX by 8.6% during the first quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after purchasing an additional 527 shares during the period. Sequoia Financial Advisors LLC raised its stake in shares of FOX by 7.8% during the first quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after purchasing an additional 464 shares during the period. Private Trust Co. NA raised its stake in shares of FOX by 86.5% during the first quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after purchasing an additional 431 shares during the period. HB Wealth Management LLC purchased a new stake in shares of FOX during the first quarter valued at approximately $420,000. Finally, Janney Montgomery Scott LLC raised its stake in shares of FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after purchasing an additional 19,181 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of FOXA traded up $0.29 during midday trading on Thursday, hitting $60.37. 1,010,572 shares of the stock traded hands, compared to its average volume of 3,867,495. Fox Corporation has a 1-year low of $38.72 and a 1-year high of $61.28. The firm has a market capitalization of $26.90 billion, a PE ratio of 12.30, a price-to-earnings-growth ratio of 1.43 and a beta of 0.52. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The business's 50 day moving average price is $56.87 and its two-hundred day moving average price is $54.53.

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

FOX Increases Dividend

The company also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. This represents a dividend yield of 93.0%. This is a positive change from FOX's previous dividend of $0.18. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio is presently 11.00%.

Analyst Upgrades and Downgrades

A number of brokerages recently issued reports on FOXA. Wells Fargo & Company lifted their price target on shares of FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Barclays restated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Nine equities research analysts have rated the stock with a Buy rating, nine have issued a Hold rating and one has issued 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 $56.20.

FOX 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.