National Pension Service Raises Stock Position in Fox Corporation $FOX

National Pension Service lifted its holdings in shares of Fox Corporation (NASDAQ:FOX) by 56.2% during the 2nd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 56,048 shares of the company’s stock after acquiring an additional 20,157 shares during the quarter. National Pension Service’s holdings in FOX were worth $2,625,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Brown Brothers Harriman & Co. raised its position in FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after purchasing an additional 475 shares during the period. Versant Capital Management Inc lifted its stake in shares of FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of FOX in the second quarter worth about $70,000. Geneos Wealth Management Inc. boosted its position in shares of FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after buying an additional 703 shares during the period. Finally, EverSource Wealth Advisors LLC grew its stake in shares of FOX by 130.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after buying an additional 1,301 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts recently commented on FOX shares. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price on the stock in a report on Friday, August 14th. Weiss Ratings upgraded FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Thursday. Guggenheim reaffirmed a “buy” rating on shares of FOX in a research report on Tuesday, August 25th. Citigroup reiterated a “buy” rating on shares of FOX in a research note on Friday, July 17th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and boosted their target price for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. One equities research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat.com, the stock currently has an average rating of “Moderate Buy” and an average target price of $77.89.

FOX Price Performance

Shares of FOX stock opened at $58.45 on Monday. The firm has a market cap of $24.53 billion, a P/E ratio of 15.26, a P/E/G ratio of 1.58 and a beta of 0.58. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. Fox Corporation has a 1-year low of $44.08 and a 1-year high of $68.18. The firm has a fifty day moving average of $55.35 and a two-hundred day moving average of $54.72.

FOX (NASDAQ:FOX) last issued its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating 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 for the quarter, compared to analyst estimates of $3.64 billion. As a group, research analysts anticipate that Fox Corporation will post 5.99 earnings per share for the current fiscal year.

FOX Announces Dividend

The company 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. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio is presently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a U.S.-based media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. FOX retained a portfolio focused on news, sports, broadcast television and digital streaming.

The company’s principal businesses include Fox News Media, which operates Fox News Channel, Fox Business Network and related digital platforms; Fox Sports, which provides national and regional sports programming; and Fox Entertainment, which develops and distributes scripted and unscripted television content.