Talon Private Wealth LLC Boosts Stake in Fox Corporation $FOXA

Key Points

• Talon Private Wealth LLC increased its stake in Fox Corporation (NASDAQ: FOXA) by 370.4% in Q1, acquiring an additional 38,823 shares and bringing its total holdings to 49,305 shares valued at approximately $2.78 million.
• Fox Corporation recently reported a net income of $1.27 EPS, exceeding analysts' estimates, with revenue rising by 6.3% year-over-year to $3.29 billion.
• The company announced a dividend increase to $0.28 per share, payable on September 24, marking a significant rise from its previous $0.18 dividend and representing an approximate yield of 93.0%.

Talon Private Wealth LLC lifted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 370.4% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 49,305 shares of the company's stock after buying an additional 38,823 shares during the period. Talon Private Wealth LLC's holdings in FOX were worth $2,780,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also made changes to their positions in FOXA. Hemington Wealth Management lifted its stake in shares of FOX by 217.6% during the first quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after buying an additional 359 shares during the period. MV Capital Management Inc. increased its stake in shares of FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after acquiring an additional 623 shares during the period. Zions Bancorporation National Association UT acquired a new stake in shares of FOX in the first quarter worth $40,000. Sentry Investment Management LLC acquired a new stake in shares of FOX in the first quarter worth $43,000. Finally, Allworth Financial LP increased its stake in shares of FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after acquiring an additional 280 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

NASDAQ FOXA traded down $3.84 during mid-day trading on Tuesday, reaching $58.64. 6,424,433 shares of the stock were exchanged, compared to its average volume of 2,699,605. The business's 50 day moving average is $57.22 and its 200-day moving average is $54.63. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $62.69. The company has a market capitalization of $26.13 billion, a P/E ratio of 11.94, a P/E/G ratio of 1.50 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.

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, 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 firm had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm posted $0.90 earnings per share. The firm's quarterly revenue was up 6.3% compared to the same quarter last year. On average, equities research analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. This represents a yield of 93.0%. FOX's payout ratio is 11.41%.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research reports. Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Morgan Stanley set a $65.00 price objective on shares of FOX in a research note on Tuesday. Wells Fargo & Company increased their price objective on shares of FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Loop Capital increased their price objective on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. 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 company's stock. According to MarketBeat.com, FOX has an average rating of "Hold" and a consensus target price of $56.47.

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.