Vident Advisory LLC Invests $310,000 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 bought a new position in Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 5,483 shares of the company's stock, valued at approximately $310,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. Assetmark Inc. lifted its position in FOX by 752.1% in the first quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after purchasing an additional 1,722,616 shares during the last quarter. Federated Hermes Inc. lifted its position in 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 purchasing an additional 1,254,829 shares during the last quarter. Nuveen LLC bought a new stake in FOX in the first quarter valued at approximately $63,125,000. Ameriprise Financial Inc. lifted its position in FOX by 537.0% in the first quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company's stock valued at $59,909,000 after purchasing an additional 892,437 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its position in 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 purchasing an additional 756,116 shares during the last quarter. Institutional investors own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently commented on FOXA shares. Bank of America upped their target price on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Wall Street Zen downgraded FOX from a "buy" rating to a "hold" rating in a report on Saturday, August 9th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their target price on FOX from $66.00 to $70.00 and gave the company an "overweight" rating in a report on Monday, September 8th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FOX presently has a consensus rating of "Hold" and an average target price of $56.47.

FOX Price Performance

NASDAQ FOXA traded down $0.48 during trading on Friday, hitting $58.25. 3,542,035 shares of the stock traded hands, compared to its average volume of 3,067,539. The company has a market capitalization of $25.95 billion, a P/E ratio of 11.86, a price-to-earnings-growth ratio of 1.41 and a beta of 0.52. The firm has a 50-day simple moving average of $57.36 and a 200-day simple moving average of $54.65. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Fox Corporation has a 12-month low of $39.08 and a 12-month high of $62.69.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results 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 analysts' expectations of $3.12 billion. During the same quarter last year, the business posted $0.90 EPS. The firm's revenue for the quarter was up 6.3% compared to the same quarter last year. As a group, analysts predict that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The business also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This is a positive change from FOX's previous dividend of $0.18. This represents a dividend yield of 93.0%. FOX's dividend payout ratio (DPR) is currently 11.41%.

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.