Fox Corporation $FOXA Shares Sold by Cresset Asset Management LLC

Cresset Asset Management LLC decreased its position in shares of Fox Corporation (NASDAQ:FOXA) by 31.8% during the 1st quarter, according to its most recent disclosure with the SEC. The firm owned 4,613 shares of the company’s stock after selling 2,152 shares during the period. Cresset Asset Management LLC’s holdings in FOX were worth $261,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Greenleaf Trust raised 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 acquiring an additional 205 shares during the last quarter. Allworth Financial LP lifted its position in FOX by 55.2% during the first quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after buying an additional 280 shares during the period. Linden Thomas Advisory Services LLC boosted its stake in FOX by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock worth $2,823,000 after buying an additional 293 shares during the last quarter. State of Alaska Department of Revenue grew its holdings in 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 during the period. Finally, Hemington Wealth Management grew its holdings in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after buying an additional 359 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several research analysts have recently weighed in on FOXA shares. Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the stock a “buy” rating in a report on Wednesday, June 25th. UBS Group set a $65.00 price target on shares of FOX and gave the company a “buy” rating in a report on Wednesday, June 25th. Morgan Stanley upped their price objective on FOX from $60.00 to $65.00 and gave the stock an “equal weight” rating in a report on Wednesday, August 6th. Cowen reaffirmed a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. Nine investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company. Based on data from MarketBeat, FOX presently has a consensus rating of “Hold” and a consensus price target of $56.20.

FOX Stock Performance

NASDAQ:FOXA opened at $59.07 on Wednesday. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The firm has a market capitalization of $26.32 billion, a price-to-earnings ratio of 12.03, a PEG ratio of 1.43 and a beta of 0.54. The firm’s fifty day simple moving average is $56.33 and its 200 day simple moving average is $54.30. Fox Corporation has a twelve month low of $38.72 and a twelve month high of $60.24.

FOX (NASDAQ:FOXA) last announced 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. FOX had a return on equity of 18.86% and a net margin of 13.88%.The firm had revenue of $3.29 billion during the quarter, compared to the consensus estimate of $3.12 billion. During the same period in the prior year, the firm earned $0.90 EPS. The firm’s quarterly revenue was up 6.3% compared to the same quarter last year. As a group, equities research analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. This is a boost from FOX’s previous dividend of $0.18. FOX’s dividend payout ratio (DPR) is currently 11.00%.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.77% of the stock is owned by company insiders.

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.