TFB Advisors LLC Takes $316,000 Position in Fox Corporation $FOXA

Key Points

• TFB Advisors LLC has acquired a new stake in Fox Corporation (NASDAQ: FOXA) during the first quarter, purchasing 5,579 shares valued at approximately $316,000.
• Several hedge funds have significantly increased their positions in Fox Corporation, with Assetmark Inc. boosting their stake by 752.1% and Federated Hermes Inc. increasing theirs by 164,675.7%.
• Fox Corporation plans to increase its dividend to $0.28 per share, up from its previous dividend of $0.18, with a payment date set for September 24th.

TFB Advisors LLC bought a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund bought 5,579 shares of the company's stock, valued at approximately $316,000.

A number of other hedge funds have also modified their holdings of the stock. Assetmark Inc. increased its position in FOX by 752.1% during the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after buying an additional 1,722,616 shares during the last quarter. Federated Hermes Inc. lifted its stake in shares of FOX by 164,675.7% in the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock valued at $71,066,000 after buying an additional 1,254,829 shares during the period. Nuveen LLC bought a new stake in shares of FOX in the first quarter valued at about $63,125,000. Allianz Asset Management GmbH lifted its stake in shares of FOX by 85.4% in the first quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock valued at $92,914,000 after buying an additional 756,116 shares during the period. Finally, Robeco Institutional Asset Management B.V. lifted its stake in FOX by 54.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock worth $106,783,000 after purchasing an additional 668,553 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. 21.77% of the stock is currently owned by corporate insiders.

Analyst Upgrades and Downgrades

FOXA has been the subject of several recent analyst reports. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. Cowen reissued a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Morgan Stanley boosted their price objective on shares of FOX from $60.00 to $65.00 and gave the company an "equal weight" rating in a research report on Wednesday, August 6th. Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Finally, Bank of America boosted 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. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the stock currently has an average rating of "Hold" and a consensus price target of $56.20.

FOX Price Performance

FOXA stock opened at $58.97 on Thursday. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. Fox Corporation has a 1 year low of $38.72 and a 1 year high of $60.24. The company has a 50 day simple moving average of $55.92 and a 200 day simple moving average of $54.14. The stock has a market cap of $26.27 billion, a price-to-earnings ratio of 12.01, a P/E/G ratio of 1.39 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping 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 analysts' expectations of $3.12 billion. During the same period in the prior year, the company posted $0.90 earnings per share. FOX's revenue for the quarter was up 6.3% compared to the same quarter last year. Research analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. 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 payout ratio is 11.00%.

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.

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