Royal Bank of Canada Has $17.18 Million Stock Position in Fox Corporation $FOXA

Key Points

• Royal Bank of Canada increased its stock position in Fox Corporation by 26.5%, holding 303,521 shares valued at approximately $17.18 million.
• Fox Corporation recently announced a dividend increase to $0.28 per share, a rise from the previous $0.18, reflecting positively on investor returns.
• Despite a strong earnings report where Fox exceeded EPS estimates, the stock has dropped 6.1% recently, with current stock prices around $58.64.

Royal Bank of Canada boosted its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 26.5% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 303,521 shares of the company's stock after purchasing an additional 63,538 shares during the quarter. Royal Bank of Canada owned 0.07% of FOX worth $17,179,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of FOXA. Ameriprise Financial Inc. grew its holdings in FOX by 30.5% during the fourth quarter. Ameriprise Financial Inc. now owns 166,202 shares of the company's stock valued at $8,074,000 after purchasing an additional 38,800 shares during the period. Captrust Financial Advisors acquired a new position in FOX during the fourth quarter valued at approximately $306,000. Cetera Investment Advisers grew its holdings in FOX by 5.5% during the fourth quarter. Cetera Investment Advisers now owns 24,643 shares of the company's stock valued at $1,197,000 after purchasing an additional 1,290 shares during the period. DZ BANK AG Deutsche Zentral Genossenschafts Bank Frankfurt am Main acquired a new position in shares of FOX in the fourth quarter valued at approximately $204,000. Finally, Ensign Peak Advisors Inc boosted its holdings in shares of FOX by 16.1% in the fourth quarter. Ensign Peak Advisors Inc now owns 171,425 shares of the company's stock valued at $8,328,000 after buying an additional 23,752 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of research reports. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Tuesday, August 5th. Morgan Stanley set a $65.00 price objective on shares of FOX in a research report on Tuesday. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Nine investment analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of "Hold" and an average target price of $56.47.

FOX Stock Performance

NASDAQ:FOXA traded down $0.48 during mid-day trading on Friday, reaching $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 one year low of $39.08 and a one year high of $62.69. The firm has a market capitalization of $25.95 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The business's fifty day simple moving average is $57.32 and its two-hundred day simple moving average is $54.65. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91.

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

FOX Increases Dividend

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