Signaturefd LLC Makes New $645,000 Investment in Fox Corporation $FOXA

Signaturefd LLC acquired a new position in shares of Fox Corporation (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund acquired 10,301 shares of the company’s stock, valued at approximately $645,000.

Other hedge funds have also bought and sold shares of the company. Squarepoint Ops LLC increased its stake in FOX by 12.4% in the second quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock valued at $58,805,000 after acquiring an additional 124,143 shares during the last quarter. Allianz Asset Management GmbH boosted its holdings in shares of FOX by 2.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock worth $50,429,000 after purchasing an additional 24,511 shares in the last quarter. Junto Capital Management LP bought a new position in shares of FOX during the 2nd quarter valued at about $34,773,000. Robeco Institutional Asset Management B.V. purchased a new position in shares of FOX during the 3rd quarter valued at about $29,395,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FOX during the 2nd quarter valued at about $21,519,000. 52.52% of the stock is currently owned by institutional investors.

Insider Activity

In related news, CEO Lachlan Murdoch bought 149,934 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 20.89% of the stock is currently owned by insiders.

Analyst Ratings Changes

FOXA has been the subject of a number of recent research reports. Fox Advisors set a $85.00 target price on FOX in a research note on Friday, October 16th. Raymond James Financial raised FOX to a “strong-buy” rating in a research note on Friday, October 16th. Oppenheimer lowered FOX to a “market perform” rating in a research report on Friday, October 16th. Bank of America raised FOX from an “underperform” rating to a “buy” rating and raised their price target for the stock from $54.00 to $85.00 in a research note on Friday, October 16th. Finally, Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and set a $80.00 price target on shares of FOX in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have given a Hold rating to the stock. Based on data from MarketBeat.com, FOX has an average rating of “Moderate Buy” and an average target price of $76.94.

FOX Stock Up 1.8%

FOXA stock opened at $64.51 on Friday. The business has a 50 day moving average of $65.18 and a 200 day moving average of $62.37. The firm has a market cap of $27.07 billion, a PE ratio of 16.84, a price-to-earnings-growth ratio of 1.10 and a beta of 0.60. Fox Corporation has a twelve month low of $48.34 and a twelve month high of $76.39. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. FOX’s revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.27 EPS. On average, research analysts forecast that Fox Corporation will post 6.06 EPS for the current fiscal year.

FOX Dividend Announcement

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

About FOX

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.