Walleye Capital LLC boosted its position in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 63.0% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 13,057 shares of the company’s stock after purchasing an additional 5,045 shares during the period. Walleye Capital LLC’s holdings in FOX were worth $515,000 at the end of the most recent reporting period.
Other large investors have also recently added to or reduced their stakes in the company. Ninety One UK Ltd grew its holdings in shares of FOX by 4.8% in the 1st quarter. Ninety One UK Ltd now owns 10,894,249 shares of the company’s stock valued at $429,778,000 after acquiring an additional 501,697 shares in the last quarter. The Manufacturers Life Insurance Company grew its holdings in shares of FOX by 1.4% in the 1st quarter. The Manufacturers Life Insurance Company now owns 236,268 shares of the company’s stock valued at $9,321,000 after acquiring an additional 3,230 shares in the last quarter. Wealthfront Advisers LLC lifted its stake in FOX by 15.7% in the 1st quarter. Wealthfront Advisers LLC now owns 8,374 shares of the company’s stock valued at $330,000 after purchasing an additional 1,134 shares during the last quarter. Weiss Multi Strategy Advisers LLC lifted its stake in FOX by 152.1% in the 1st quarter. Weiss Multi Strategy Advisers LLC now owns 58,986 shares of the company’s stock valued at $2,327,000 after purchasing an additional 35,591 shares during the last quarter. Finally, Mirabella Financial Services LLP acquired a new stake in FOX during the first quarter worth approximately $325,000. Institutional investors own 56.49% of the company’s stock.
Wall Street Analysts Forecast Growth
Several brokerages have issued reports on FOXA. Morgan Stanley downgraded shares of FOX from an “overweight” rating to an “equal weight” rating and cut their price objective for the stock from $45.00 to $38.00 in a research report on Monday, July 18th. UBS Group cut their price objective on shares of FOX to $46.00 in a research report on Tuesday, July 26th. The Goldman Sachs Group lowered their target price on shares of FOX from $32.00 to $30.00 and set a “sell” rating on the stock in a report on Tuesday, July 26th. Moffett Nathanson lowered their target price on shares of FOX to $46.00 in a report on Friday, July 22nd. Finally, Rosenblatt Securities raised their target price on shares of FOX from $35.00 to $37.00 and gave the stock a “neutral” rating in a report on Thursday, August 11th. One research analyst has rated the stock with a sell rating, five have assigned a hold rating and five have given a buy rating to the company. Based on data from MarketBeat.com, FOX currently has an average rating of “Hold” and a consensus target price of $40.90.
FOX Stock Performance
FOX (NASDAQ:FOXA – Get Rating) last posted its earnings results on Wednesday, August 10th. The company reported $0.74 earnings per share for the quarter, missing analysts’ consensus estimates of $0.78 by ($0.04). The company had revenue of $3.03 billion for the quarter, compared to the consensus estimate of $3.05 billion. FOX had a return on equity of 14.05% and a net margin of 8.62%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same period in the previous year, the firm posted $0.65 EPS. As a group, research analysts predict that Fox Co. will post 3.68 EPS for the current fiscal year.
FOX Increases Dividend
The business also recently announced a Semi-Annual dividend, which will be paid on Wednesday, September 28th. Shareholders of record on Wednesday, August 31st will be paid a dividend of $0.25 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend is Tuesday, August 30th. This is a boost from FOX’s previous Semi-Annual dividend of $0.24. FOX’s payout ratio is presently 23.70%.
FOX Company Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.
- Get a free copy of the StockNews.com research report on FOX (FOXA)
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