F&V Capital Management LLC Increases Holdings in Fox Corporation $FOX

F&V Capital Management LLC lifted its holdings in Fox Corporation (NASDAQ:FOX) by 31.0% in the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 373,105 shares of the company’s stock after acquiring an additional 88,395 shares during the period. FOX accounts for about 3.2% of F&V Capital Management LLC’s portfolio, making the stock its 13th biggest holding. F&V Capital Management LLC owned approximately 0.09% of FOX worth $17,476,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Marshall Wace LLP lifted its holdings in FOX by 792.4% in the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after purchasing an additional 2,827,768 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in FOX during the 2nd quarter valued at approximately $35,047,000. Bank of New York Mellon Corp grew its holdings in FOX by 1.5% during the 4th quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock valued at $43,296,000 after buying an additional 10,165 shares in the last quarter. Gamco Investors INC. ET AL raised its position in shares of FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after buying an additional 53,166 shares during the last quarter. Finally, Gabelli Funds LLC raised its position in shares of FOX by 2.3% during the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock valued at $30,787,000 after buying an additional 13,200 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analysts Set New Price Targets

A number of analysts have issued reports on the stock. Citigroup reiterated a “buy” rating on shares of FOX in a report on Friday, July 17th. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Friday, August 14th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Thursday, July 30th. Wolfe Research set a $93.00 target price on FOX in a research report on Thursday, August 20th. Finally, Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Two equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Moderate Buy” and an average price target of $77.89.

FOX Stock Performance

Shares of FOX opened at $61.32 on Monday. The stock has a market capitalization of $25.73 billion, a PE ratio of 16.01, a P/E/G ratio of 1.68 and a beta of 0.57. The company’s fifty day moving average is $52.92 and its 200 day moving average is $54.28. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates 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 analysts’ expectations of $3.64 billion. Sell-side analysts expect that Fox Corporation will post 5.91 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed 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 105.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is presently 14.62%.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.