Vident Advisory LLC Takes Position in Fox Corporation $FOXA

Key Points

• Vident Advisory LLC recently acquired a new position in Fox Corporation, purchasing 5,483 shares valued at approximately $310,000.
• Fox Corporation reported earnings of $1.27 EPS in its latest quarter, surpassing analyst expectations and reflecting a 6.3% year-over-year revenue increase.
• The company recently increased its dividend from $0.18 to $0.28, representing a significant yield of 93.0% for shareholders of record as of September 3rd.

Vident Advisory LLC purchased a new position in 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 purchased 5,483 shares of the company's stock, valued at approximately $310,000.

A number of other large investors also recently bought and sold shares of FOXA. Assetmark Inc. raised its holdings in FOX by 752.1% in the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after purchasing an additional 1,722,616 shares during the period. Federated Hermes Inc. increased its stake in FOX by 164,675.7% during the 1st quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company's stock worth $71,066,000 after buying an additional 1,254,829 shares in the last quarter. Nuveen LLC purchased a new stake in FOX during the 1st quarter worth approximately $63,125,000. Ameriprise Financial Inc. increased its stake in FOX by 537.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock worth $59,909,000 after buying an additional 892,437 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in FOX by 85.4% during the 1st quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock worth $92,914,000 after buying an additional 756,116 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Trading Up 1.6%

Shares of FOX stock opened at $62.48 on Tuesday. The firm has a market capitalization of $27.84 billion, a price-to-earnings ratio of 12.73, a PEG ratio of 1.47 and a beta of 0.52. Fox Corporation has a fifty-two week low of $38.72 and a fifty-two week high of $62.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The stock has a 50 day moving average of $57.17 and a 200 day moving average of $54.60.

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 the consensus estimate of $1.01 by $0.26. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The company's quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the business posted $0.90 earnings per share. As a group, research analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared 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 boost from FOX's previous dividend of $0.18. This represents a yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. FOX's payout ratio is 11.41%.

Analyst Upgrades and Downgrades

Several research firms have commented on FOXA. Wells Fargo & Company boosted their price objective on FOX from $66.00 to $70.00 and gave the stock an "overweight" rating in a research note on Monday. Bank of America boosted their price objective on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Tuesday, August 5th. Guggenheim reiterated a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Finally, Barclays reiterated an "outperform" rating on shares of FOX 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 issued a Sell rating to the stock. According to MarketBeat.com, FOX has an average rating of "Hold" and an average target price of $56.47.

About FOX

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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