Mackenzie Financial Corp Sells 659 Shares of Fox Corporation (NASDAQ:FOXA)

Mackenzie Financial Corp decreased its stake in shares of Fox Corporation (NASDAQ:FOXA) by 4.6% in the 1st quarter, according to its most recent 13F filing with the SEC. The firm owned 13,750 shares of the company’s stock after selling 659 shares during the period. Mackenzie Financial Corp’s holdings in FOX were worth $778,000 as of its most recent filing with the SEC.

Several other hedge funds and other institutional investors have also modified their holdings of FOXA. Greenleaf Trust boosted its holdings in FOX by 3.1% in the 1st quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock valued at $384,000 after purchasing an additional 205 shares during the period. Allworth Financial LP raised its position in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after buying an additional 280 shares in the last quarter. Linden Thomas Advisory Services LLC raised its position in shares of FOX by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock valued at $2,823,000 after buying an additional 293 shares in the last quarter. State of Alaska Department of Revenue raised its position in shares of FOX by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company’s stock valued at $1,444,000 after buying an additional 305 shares in the last quarter. Finally, GeoWealth Management LLC raised its position in shares of FOX by 32.4% in the 4th quarter. GeoWealth Management LLC now owns 1,448 shares of the company’s stock valued at $70,000 after buying an additional 354 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Activity

In other news, CFO Steven Tomsic sold 39,642 shares of the firm’s stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the transaction, the chief financial officer owned 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.77% of the company’s stock.

FOX Price Performance

FOXA stock opened at $54.20 on Thursday. The company has a fifty day moving average price of $55.42 and a 200-day moving average price of $53.61. The company has a market capitalization of $24.37 billion, a P/E ratio of 11.04, a PEG ratio of 1.22 and a beta of 0.54. Fox Corporation has a 52-week low of $38.52 and a 52-week high of $58.74. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.33 and a current ratio of 2.91.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. The company’s revenue for the quarter was up 6.3% on a year-over-year basis. During the same quarter last year, the firm earned $0.90 earnings per share. As a group, equities analysts expect that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is an increase from FOX’s previous dividend of $0.18. FOX’s payout ratio is 11.00%.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FOXA shares. Guggenheim restated a “buy” rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. UBS Group set a $65.00 target price on shares of FOX and gave the company a “buy” rating in a research report on Wednesday, June 25th. Morgan Stanley boosted their target price on shares of FOX from $60.00 to $65.00 and gave the company an “equal weight” rating in a research report on Wednesday. Barclays restated an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Bank of America boosted their target price on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $53.82.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.