Great Lakes Advisors LLC Acquires New Shares in Fox Corporation $FOX

Great Lakes Advisors LLC acquired a new position in Fox Corporation (NASDAQ:FOX) in the 2nd quarter, Holdings Channel.com reports. The institutional investor acquired 80,952 shares of the company’s stock, valued at approximately $4,222,000.

Several other hedge funds and other institutional investors have also bought and sold shares of FOX. Marshall Wace LLP raised its holdings in shares of FOX by 792.4% during the third quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after purchasing an additional 2,827,768 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in FOX during the 2nd quarter valued at $35,047,000. Bank of New York Mellon Corp lifted its holdings in shares of 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 during the period. Gamco Investors INC. ET AL lifted its holdings in shares of FOX by 10.0% during the 1st 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 period. Finally, Gabelli Funds LLC boosted its stake in shares of FOX by 2.3% in the 1st quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock worth $30,787,000 after buying an additional 13,200 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

Several brokerages recently commented on FOX. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. Citigroup reissued a “buy” rating on shares of FOX in a report on Friday, July 17th. Weiss Ratings downgraded FOX from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a research report on Friday, July 10th. Finally, Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective on the stock in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company’s stock. Based on data from MarketBeat.com, the stock currently has an average rating of “Buy” and an average price target of $77.89.

FOX Trading Up 0.1%

NASDAQ:FOX opened at $60.45 on Friday. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The business has a fifty day moving average price of $51.48 and a 200-day moving average price of $54.24. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 15.78, a price-to-earnings-growth ratio of 1.66 and a beta of 0.57. 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 (NASDAQ:FOX) last released its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. Sell-side analysts forecast that Fox Corporation will post 5.91 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. The ex-dividend date is Wednesday, September 2nd. This represents a yield of 105.0%. FOX’s dividend payout ratio (DPR) 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.