United Services Automobile Association Invests $334,000 in Fox Corporation $FOXA

Key Points

• United Services Automobile Association invested approximately $334,000 in Fox Corporation, acquiring 6,094 shares during the first quarter.
• Multiple large investors have significantly increased their stakes in Fox, with Hemington Wealth Management boosting its holdings by 217.6%.
• Fox Corporation recently declared a $0.28 dividend, representing a yield of 93.0%, up from the previous dividend of $0.18.

United Services Automobile Association acquired a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 6,094 shares of the company's stock, valued at approximately $334,000.

A number of other institutional investors have also modified their holdings of the business. Hemington Wealth Management grew its position in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company's stock worth $29,000 after purchasing an additional 359 shares during the last quarter. MV Capital Management Inc. grew its position in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares during the last quarter. Zions Bancorporation National Association UT bought a new position in FOX in the 1st quarter worth about $40,000. Sentry Investment Management LLC bought a new position in FOX in the 1st quarter worth about $43,000. Finally, Allworth Financial LP grew its position in FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

Several research analysts have commented on the stock. Morgan Stanley set a $65.00 target price on shares of FOX in a research report on Tuesday, September 9th. Bank of America upped their price target 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. Guggenheim reaffirmed a "buy" rating and issued a $62.00 price target (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research note on Wednesday, July 9th. Finally, Wall Street Zen lowered shares of FOX from a "buy" rating to a "hold" rating in a research note on Saturday, August 9th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the stock presently has an average rating of "Hold" and a consensus target price of $56.47.

FOX Trading Up 1.0%

Shares of FOXA stock traded up $0.60 during trading hours on Thursday, reaching $59.82. 1,600,221 shares of the stock traded hands, compared to its average volume of 3,895,153. Fox Corporation has a 1-year low of $40.20 and a 1-year high of $62.69. The business has a fifty day moving average price of $57.56 and a 200 day moving average price of $54.69. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.65 billion, a PE ratio of 12.18, a PEG ratio of 1.38 and a beta of 0.52.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating 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 quarter in the previous year, the business earned $0.90 earnings per share. The firm's 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 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 paid a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This represents a yield of 93.0%. This is a boost from FOX's previous dividend of $0.18. FOX's dividend payout ratio (DPR) is currently 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.