Royal Bank of Canada Has $17.18 Million Stock Position in Fox Corporation $FOXA

Royal Bank of Canada lifted its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 26.5% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 303,521 shares of the company’s stock after buying an additional 63,538 shares during the period. Royal Bank of Canada owned about 0.07% of FOX worth $17,179,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the business. Vanguard Group Inc. raised its holdings in shares of FOX by 2.1% during the 1st quarter. Vanguard Group Inc. now owns 25,739,628 shares of the company’s stock worth $1,456,863,000 after buying an additional 518,835 shares in the last quarter. Invesco Ltd. raised its holdings in shares of FOX by 3.0% during the 1st quarter. Invesco Ltd. now owns 3,680,293 shares of the company’s stock worth $208,305,000 after buying an additional 107,687 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its position in FOX by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock worth $130,043,000 after acquiring an additional 219,016 shares during the last quarter. AustralianSuper Pty Ltd grew its position in FOX by 8.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company’s stock worth $149,218,000 after acquiring an additional 212,348 shares during the last quarter. Finally, KBC Group NV grew its position in FOX by 1.3% during the 1st quarter. KBC Group NV now owns 2,397,604 shares of the company’s stock worth $135,704,000 after acquiring an additional 29,906 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 6.1%

Shares of FOX stock opened at $58.64 on Wednesday. Fox Corporation has a one year low of $38.72 and a one year high of $62.69. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. The stock’s 50-day moving average is $57.22 and its 200 day moving average is $54.63. The firm has a market cap of $26.13 billion, a price-to-earnings ratio of 11.94, a PEG ratio of 1.50 and a beta of 0.52.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 5th. The company reported $1.27 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 company had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the company earned $0.90 EPS. The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. Equities research analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This represents a dividend yield of 93.0%. The ex-dividend date is Wednesday, September 3rd. This is a positive change from FOX’s previous dividend of $0.18. FOX’s dividend payout ratio is currently 11.41%.

Analyst Upgrades and Downgrades

A number of brokerages recently weighed in on FOXA. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. Cowen restated a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. Morgan Stanley set a $65.00 price objective on FOX in a research report on Tuesday. Guggenheim restated a “buy” rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their price target on FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a research report on Monday. Nine research analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price of $56.47.

FOX Profile

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.