419,201 Shares in Fox Corporation $FOXA Acquired by Strs Ohio

Strs Ohio purchased a new position in shares of Fox Corporation (NASDAQ:FOXA) during the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm purchased 419,201 shares of the company’s stock, valued at approximately $23,727,000. Strs Ohio owned approximately 0.09% of FOX at the end of the most recent quarter.

Several other large investors have also made changes to their positions in the company. Acadian Asset Management LLC boosted its position in shares of FOX by 19,428.9% during the 1st quarter. Acadian Asset Management LLC now owns 179,080 shares of the company’s stock worth $10,129,000 after acquiring an additional 178,163 shares in the last quarter. Geneos Wealth Management Inc. lifted its stake in FOX by 205.6% in the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC lifted its stake in FOX by 1.2% in the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 2,709,021 shares of the company’s stock valued at $153,331,000 after purchasing an additional 32,144 shares during the last quarter. Zurich Insurance Group Ltd FI bought a new position in FOX in the 1st quarter valued at approximately $3,328,000. Finally, Ascent Group LLC bought a new position in FOX in the 1st quarter valued at approximately $488,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the subject of several research reports. Wall Street Zen downgraded shares of FOX from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Wells Fargo & Company increased their price objective on shares of FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. UBS Group set a $65.00 price objective on shares of FOX and gave the company a “buy” rating in a research note on Wednesday, June 25th. Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a research note on Wednesday, June 25th. Finally, Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and a consensus target price of $56.47.

FOX Price Performance

FOXA stock opened at $58.25 on Friday. The company has a fifty day moving average price of $57.36 and a 200-day moving average price of $54.66. The company has a market capitalization of $25.95 billion, a P/E ratio of 11.86, a PEG ratio of 1.41 and a beta of 0.52. Fox Corporation has a 52-week low of $39.08 and a 52-week high of $62.69. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. This is a boost from FOX’s previous dividend of $0.18. This represents a yield of 93.0%. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX’s payout ratio is 11.41%.

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.