Nisa Investment Advisors LLC lowered its holdings in Fox Corporation (NASDAQ:FOX – Free Report) by 60.7% in the third quarter, according to its most recent Form 13F filing with the SEC. The fund owned 17,180 shares of the company’s stock after selling 26,542 shares during the period. Nisa Investment Advisors LLC’s holdings in FOX were worth $967,000 at the end of the most recent reporting period.
A number of other institutional investors and hedge funds have also recently bought and sold shares of the business. V Square Quantitative Management LLC increased its holdings in FOX by 9.5% during the 3rd quarter. V Square Quantitative Management LLC now owns 4,022 shares of the company’s stock worth $226,000 after purchasing an additional 350 shares during the last quarter. Assenagon Asset Management S.A. raised its position in shares of FOX by 54.7% in the 3rd quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock valued at $36,916,000 after purchasing an additional 231,724 shares in the last quarter. B. Riley Wealth Advisors Inc. acquired a new position in shares of FOX in the 3rd quarter valued at approximately $454,000. Cooper Investors PTY Ltd. purchased a new position in shares of FOX during the 3rd quarter valued at approximately $24,136,000. Finally, Perpetual Ltd boosted its stake in shares of FOX by 174.1% during the 3rd quarter. Perpetual Ltd now owns 156,900 shares of the company’s stock valued at $8,833,000 after buying an additional 99,667 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.
Insider Activity at FOX
In other news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average cost 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. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a filing with the SEC, which is accessible through this link. Insiders own 23.06% of the company’s stock.
Wall Street Analysts Forecast Growth
FOX has been the subject of a number of recent analyst reports. Royal Bank Of Canada set a $95.00 price target on shares of FOX in a research report on Tuesday, October 20th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 6th. Citigroup reaffirmed a “market outperform” rating on shares of FOX in a report on Tuesday, October 20th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research note on Friday, July 10th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat, FOX presently has an average rating of “Buy” and a consensus price target of $78.40.
Check Out Our Latest Stock Analysis on FOX
FOX Stock Down 2.2%
NASDAQ:FOX opened at $58.15 on Tuesday. The company has a market capitalization of $24.40 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. 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 $58.54 and a 200 day simple moving average of $56.25. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17.
FOX (NASDAQ:FOX – Get Free Report) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The firm had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. Sell-side analysts predict that Fox Corporation will post 6.23 EPS for the current fiscal year.
FOX Announces Dividend
The company also recently announced a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were given a $0.29 dividend. The ex-dividend date was Wednesday, September 2nd. This represents a dividend yield of 96.0%. FOX’s dividend payout ratio (DPR) is presently 15.14%.
FOX Company Profile
Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.
The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.
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