Foster & Motley Inc. purchased a new position in shares of Fox Corporation (NASDAQ:FOX – Free Report) during the 2nd quarter, HoldingsChannel.com reports. The institutional investor purchased 177,095 shares of the company’s stock, valued at approximately $9,237,000.
Other institutional investors and hedge funds have also made changes to their positions in the company. Wedge Capital Management L L P NC purchased a new stake in FOX during the 2nd quarter valued at approximately $35,047,000. Gabelli Funds LLC boosted its position in shares of FOX by 5.2% during the 4th quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after purchasing an additional 28,200 shares in the last quarter. Gamco Investors INC. ET AL grew its position in FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock worth $31,073,000 after buying an additional 53,166 shares during the period. Plato Investment Management Ltd purchased a new stake in shares of FOX during the 2nd quarter worth approximately $1,261,000. Finally, BI Asset Management Fondsmaeglerselskab A S purchased a new stake in FOX during the first quarter worth $9,328,000. 26.41% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
FOX has been the topic of several research reports. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target on the stock in a research report on Friday. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, July 30th. Weiss Ratings lowered FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research report on Friday, July 10th. Finally, JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FOX presently has an average rating of “Buy” and a consensus target price of $76.00.
FOX Stock Down 0.4%
NASDAQ:FOX opened at $61.23 on Wednesday. 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 market capitalization of $25.70 billion, a price-to-earnings ratio of 15.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The stock has a 50-day simple moving average of $51.51 and a 200 day simple moving average of $54.30.
FOX (NASDAQ:FOX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. Sell-side analysts predict that Fox Corporation will post 5.89 EPS for the current fiscal year.
FOX Dividend Announcement
The company also recently declared a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. This represents a dividend yield of 105.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s dividend payout ratio is currently 14.62%.
FOX Profile
Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.
FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.
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