USA Financial Formulas Decreases Position in Fox Corporation $FOXA

USA Financial Formulas decreased its stake in Fox Corporation (NASDAQ:FOXA) by 3.8% in the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 28,057 shares of the company’s stock after selling 1,104 shares during the quarter. USA Financial Formulas’ holdings in FOX were worth $1,572,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of FOXA. CWM LLC increased its position in FOX by 8.6% during the first quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $377,000 after acquiring an additional 527 shares during the last quarter. Sequoia Financial Advisors LLC boosted its stake in shares of FOX by 7.8% during the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company’s stock worth $364,000 after purchasing an additional 464 shares during the period. Private Trust Co. NA grew its holdings in FOX by 86.5% during the 1st quarter. Private Trust Co. NA now owns 929 shares of the company’s stock valued at $53,000 after purchasing an additional 431 shares during the last quarter. HB Wealth Management LLC purchased a new stake in FOX in the 1st quarter worth about $420,000. Finally, MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its stake in FOX by 246.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 73,009 shares of the company’s stock worth $4,132,000 after purchasing an additional 51,960 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts have recently commented on FOXA shares. Wall Street Zen cut FOX from a “buy” rating to a “hold” rating in a research note on Saturday, August 9th. Bank of America upped their price objective on FOX from $65.00 to $70.00 and gave the company a “buy” rating in a research report on Friday, September 26th. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 9th. Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Finally, Morgan Stanley set a $65.00 price target on shares of FOX in a report on Tuesday, September 9th. Nine research analysts have rated the stock with a Buy rating and eight have issued a Hold rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Moderate Buy” and an average target price of $57.20.

FOX Trading Down 1.9%

NASDAQ FOXA opened at $61.89 on Thursday. Fox Corporation has a one year low of $41.13 and a one year high of $65.30. 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 market capitalization of $27.57 billion, a price-to-earnings ratio of 12.60, a price-to-earnings-growth ratio of 1.49 and a beta of 0.54. The company’s 50-day simple moving average is $58.65 and its two-hundred day simple moving average is $55.18.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.01 by $0.26. The firm had revenue of $3.29 billion for 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 quarterly revenue was up 6.3% on a year-over-year basis. During the same period last year, the firm earned $0.90 earnings per share. Equities analysts forecast that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. This represents a dividend yield of 93.0%. The ex-dividend date of this dividend was Wednesday, September 3rd. This is a positive change from FOX’s previous dividend of $0.18. FOX’s dividend payout ratio is presently 11.41%.

About FOX

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.