WINTON GROUP Ltd Makes New Investment in Fox Corporation $FOXA

Key Points

• WINTON GROUP Ltd initiated a position in Fox Corporation by purchasing 33,700 FOXA shares worth approximately $1.76 million. Institutional investors collectively own 52.52% of the company.
• Analyst sentiment is mixed but leans positive, with upgrades from JPMorgan and Wolfe Research; however, the overall consensus rating remains Hold with a target price of $74.38.
• Fox exceeded quarterly expectations, reporting $1.79 in EPS and $4.21 billion in revenue, with revenue up 28.1% year over year. The company also declared a $0.29-per-share dividend.

WINTON GROUP Ltd bought a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the second quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm bought 33,700 shares of the company's stock, valued at approximately $1,758,000.

A number of other large investors have also recently modified their holdings of FOXA. FWL Investment Management LLC bought a new position in FOX in the third quarter worth approximately $26,000. Elyxium Wealth LLC bought a new stake in FOX during the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC purchased a new stake in shares of FOX in the 2nd quarter worth $35,000. Quantbot Technologies LP purchased a new stake in shares of FOX in the 3rd quarter worth $51,000. Finally, Geneos Wealth Management Inc. grew its position in shares of FOX by 205.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company's stock worth $52,000 after buying an additional 621 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

Several analysts recently weighed in on FOXA shares. JPMorgan Chase & Co. upgraded FOX from a "neutral" rating to an "overweight" rating and lifted their price objective for the company from $70.00 to $82.00 in a report on Friday, August 14th. Wolfe Research upgraded shares of FOX from a "peer perform" rating to an "outperform" rating and set a $71.00 target price on the stock in a report on Tuesday, June 30th. Zacks Research downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Wednesday, August 5th. Weiss Ratings lowered shares of FOX from a "buy (b-)" rating to a "hold (c+)" rating in a report on Wednesday, August 12th. Finally, Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and set a $80.00 price objective on shares of FOX in a research note on Friday, August 14th. Nine analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus target price of $74.38.

FOX Price Performance

Shares of FOXA stock opened at $65.94 on Friday. Fox Corporation has a 1-year low of $48.34 and a 1-year high of $76.39. The stock's 50-day moving average is $61.96 and its 200 day moving average is $60.87. The company has a market cap of $27.67 billion, a P/E ratio of 17.22, a PEG ratio of 1.17 and a beta of 0.55. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts' consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The firm's revenue was up 28.1% on a year-over-year basis. During the same period in the previous year, the company posted $1.27 earnings per share. Research analysts predict that Fox Corporation will post 5.94 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a dividend yield of 86.0%. The ex-dividend date is Wednesday, September 2nd. FOX's payout ratio is 15.14%.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox's businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.

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