Fox Corporation $FOXA Shares Sold by Vest Financial LLC

Vest Financial LLC lessened its holdings in Fox Corporation (NASDAQ:FOXA) by 65.8% during the third quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 122,418 shares of the company’s stock after selling 235,506 shares during the quarter. Vest Financial LLC’s holdings in FOX were worth $7,669,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also added to or reduced their stakes in the company. MassMutual Private Wealth & Trust FSB purchased a new stake in FOX during the third quarter valued at about $44,000. PFS Partners LLC bought a new stake in shares of FOX in the 3rd quarter valued at about $44,000. Elevation Wealth Partners LLC lifted its stake in shares of FOX by 811.0% in the 3rd quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock valued at $57,000 after acquiring an additional 811 shares during the last quarter. TD Waterhouse Canada Inc. lifted its stake in shares of FOX by 2,503.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after acquiring an additional 1,477 shares during the last quarter. Finally, Wilkerson Advisory Group LLC boosted its holdings in FOX by 50.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $84,000 after acquiring an additional 482 shares during the period. 52.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, 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 position. The purchase was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 20.89% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts recently issued reports on the company. Wells Fargo & Company upgraded FOX from an “equal weight” rating to an “overweight” rating and raised their price target for the stock from $65.00 to $80.00 in a research report on Friday, August 14th. Fox Advisors set a $85.00 price target on shares of FOX in a research report on Friday, October 16th. Guggenheim restated a “buy” rating and set a $85.00 price target on shares of FOX in a report on Wednesday, September 23rd. Oppenheimer lowered FOX to a “market perform” rating in a research report on Friday, October 16th. Finally, Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. 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 stock. According to MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $78.12.

FOX Stock Performance

FOX stock 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 stock’s 50 day simple moving average is $65.51 and its two-hundred day simple moving average is $62.17. 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 stock has a market cap of $28.65 billion, a price-to-earnings ratio of 17.83, a PEG ratio of 1.15 and a beta of 0.60.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion during 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%. The firm’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter last year, the business posted $1.27 EPS. As a group, analysts expect that Fox Corporation will post 6.06 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s dividend payout ratio (DPR) is currently 15.14%.

FOX Profile

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.