6,094 Shares in Fox Corporation $FOXA Bought by United Services Automobile Association

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) during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm acquired 6,094 shares of the company's stock, valued at approximately $334,000.

A number of other hedge funds have also made changes to their positions in the stock. CWM LLC boosted its holdings 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 acquiring an additional 527 shares during the period. Sequoia Financial Advisors LLC grew its stake in FOX by 7.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock valued at $364,000 after acquiring an additional 464 shares in the last quarter. Private Trust Co. NA grew its stake in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock valued at $53,000 after buying an additional 431 shares in the last quarter. HB Wealth Management LLC bought a new stake in FOX during the first quarter worth approximately $420,000. Finally, Janney Montgomery Scott LLC boosted its position in FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock worth $1,800,000 after purchasing an additional 19,181 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Analysts Set New Price Targets

A number of research analysts recently commented on FOXA shares. Guggenheim restated a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Bank of America raised their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. Wells Fargo & Company raised their price target on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research report on Monday, September 8th. Wall Street Zen lowered FOX from a "buy" rating to a "hold" rating in a research report on Saturday, August 9th. Finally, Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Nine equities research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus target price of $56.47.

FOX Stock Up 0.9%

Shares of FOX stock traded up $0.52 on Monday, hitting $58.77. The company had a trading volume of 4,956,144 shares, compared to its average volume of 3,022,711. The stock has a market capitalization of $26.18 billion, a price-to-earnings ratio of 11.97, a P/E/G ratio of 1.40 and a beta of 0.52. Fox Corporation has a 1 year low of $39.35 and a 1 year high of $62.69. The stock has a 50 day moving average of $57.43 and a 200-day moving average of $54.64. 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 data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period in the prior year, the company earned $0.90 earnings per share. FOX's revenue was up 6.3% compared to the same quarter last year. As a group, sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Increases Dividend

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

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.