Fox Corporation $FOXA Shares Acquired by The Manufacturers Life Insurance Company

The Manufacturers Life Insurance Company boosted its position in Fox Corporation (NASDAQ:FOXA) by 11.0% in the 2nd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 118,135 shares of the company’s stock after buying an additional 11,669 shares during the quarter. The Manufacturers Life Insurance Company’s holdings in FOX were worth $6,162,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also recently bought and sold shares of FOXA. FWL Investment Management LLC bought a new position in FOX during the 3rd quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in shares of FOX during the 4th quarter valued at approximately $27,000. CYBER HORNET ETFs LLC acquired a new stake in shares of FOX during the 2nd quarter valued at approximately $35,000. Quantbot Technologies LP bought a new position in FOX during the third quarter worth $51,000. Finally, Geneos Wealth Management Inc. lifted its stake in FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several analysts have weighed in on the stock. Barclays lowered their target price on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a “buy” rating in a report on Friday, July 10th. Fox Advisors set a $82.00 price objective on shares of FOX in a research report on Friday, August 14th. Zacks Research lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Wednesday, August 5th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and raised their target price for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the company. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus target price of $74.38.

FOX Stock Performance

FOXA stock opened at $65.94 on Monday. 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 capitalization of $27.67 billion, a price-to-earnings ratio of 17.22, a PEG ratio of 1.18 and a beta of 0.55. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39. The stock’s fifty day moving average is $61.96 and its two-hundred day moving average is $60.90.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the prior year, the firm earned $1.27 earnings per share. The company’s quarterly revenue was up 28.1% on a year-over-year basis. On average, research analysts predict that Fox Corporation will post 5.94 EPS for the current year.

FOX Announces Dividend

The company also recently announced a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be paid a dividend of $0.29 per share. This represents a yield of 86.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is presently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a media and entertainment company formed in 2019 following the separation of certain assets from 21st Century Fox. The company operates a portfolio of news, sports and entertainment brands focused primarily on the United States, with select services and programming available internationally.

Fox’s businesses include FOX News Media, which operates FOX News Channel, FOX Business Network, FOX News Digital and related subscription and streaming services. Its sports operations include FOX Sports, FS1, FS2, FOX Deportes, the Big Ten Network and sports programming distributed through digital platforms.