Robeco Institutional Asset Management B.V. bought a new position in shares of Fox Corporation (NASDAQ:FOXA – Free Report) during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund bought 469,188 shares of the company’s stock, valued at approximately $29,395,000. Robeco Institutional Asset Management B.V. owned 0.11% of FOX at the end of the most recent reporting period.
A number of other institutional investors also recently bought and sold shares of FOXA. MassMutual Private Wealth & Trust FSB purchased a new stake in shares of FOX in the 3rd quarter valued at approximately $44,000. Elevation Wealth Partners LLC increased its holdings in shares of FOX by 811.0% during the 3rd quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock worth $57,000 after buying an additional 811 shares during the last quarter. Wilkerson Advisory Group LLC increased its holdings in shares of FOX by 50.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after buying an additional 482 shares during the last quarter. EverSource Wealth Advisors LLC increased its holdings in shares of FOX by 20.9% during the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock worth $85,000 after buying an additional 251 shares during the last quarter. Finally, TD Waterhouse Canada Inc. raised its position in shares of FOX by 2,503.4% during the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after buying an additional 1,477 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.
Insider Buying and Selling at FOX
In other news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 20.89% of the company’s stock.
Analysts Set New Price Targets
A number of research analysts recently commented on the company. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a report on Monday. Raymond James Financial raised FOX to a “strong-buy” rating in a research note on Friday, October 16th. Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Needham & Company LLC began coverage on FOX in a research note on Friday, October 16th. They issued a “buy” rating on the stock. Finally, Seaport Research Partners lowered FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Two analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have assigned a Hold rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $78.12.
Check Out Our Latest Stock Analysis on FOXA
FOX Stock Performance
NASDAQ:FOXA opened at $68.27 on Friday. Fox Corporation has a fifty-two week low of $48.34 and a fifty-two week high of $76.39. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The company has a 50 day moving average price of $65.51 and a 200 day moving average price of $62.17. The stock has a market capitalization of $28.65 billion, a P/E ratio of 12.10, a PEG ratio of 1.15 and a beta of 0.60.
FOX (NASDAQ:FOXA – Get Free Report) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the company earned $1.27 earnings per share. The firm’s quarterly revenue was up 28.1% compared to the same quarter last year. Equities research analysts forecast that Fox Corporation will post 6.06 EPS for the current year.
FOX Dividend Announcement
The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s payout ratio is presently 15.14%.
About FOX
Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.
FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.
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