FOX (NASDAQ:FOX) Sees Strong Trading Volume - Time to Buy?

Key Points

• Fox Corporation (NASDAQ:FOX) experienced a significant increase in trading volume, with approximately 1.54 million shares traded, a 21% rise from the previous session.
• The company reported earnings of $1.27 per share, surpassing analysts' expectations of $1.03, alongside a net margin of 13.88% and revenue of $3.29 billion.
• FOX announced a quarterly dividend of $0.28 to be paid on September 24th, with a payout ratio of 11.41% as recorded on September 3rd.

Fox Corporation (NASDAQ:FOX - Get Free Report) saw unusually-strong trading volume on Wednesday . Approximately 1,536,784 shares traded hands during trading, an increase of 21% from the previous session's volume of 1,272,722 shares.The stock last traded at $50.89 and had previously closed at $53.02.

FOX Trading Down 2.1%

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 company has a 50 day moving average of $52.36 and a 200 day moving average of $50.34. The firm has a market cap of $23.12 billion, a P/E ratio of 10.57, a PEG ratio of 1.40 and a beta of 0.57.

FOX (NASDAQ:FOX - Get Free Report) last released its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.24. FOX had a net margin of 13.88% and a return on equity of 18.86%. The firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. Analysts predict that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a half year 25 dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is presently 11.41%.

Hedge Funds Weigh In On FOX

A number of large investors have recently modified their holdings of the stock. Vanguard Group Inc. lifted its position in shares of FOX by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock worth $768,799,000 after purchasing an additional 249,246 shares in the last quarter. Geode Capital Management LLC increased its stake in FOX by 1.7% in the second quarter. Geode Capital Management LLC now owns 3,442,903 shares of the company's stock valued at $177,024,000 after purchasing an additional 56,071 shares in the last quarter. National Bank of Canada FI increased its stake in FOX by 37.7% in the first quarter. National Bank of Canada FI now owns 1,817,328 shares of the company's stock valued at $95,791,000 after purchasing an additional 497,544 shares in the last quarter. Amundi increased its stake in FOX by 5.7% in the first quarter. Amundi now owns 1,637,280 shares of the company's stock valued at $86,301,000 after purchasing an additional 88,278 shares in the last quarter. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC increased its stake in FOX by 15.2% in the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,633,430 shares of the company's stock valued at $86,098,000 after purchasing an additional 215,477 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

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.

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