Advisors Asset Management Inc. Sells 3,086 Shares of Fox Corporation $FOXA

Advisors Asset Management Inc. trimmed its position in Fox Corporation (NASDAQ:FOXA) by 59.7% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 2,081 shares of the company’s stock after selling 3,086 shares during the period. Advisors Asset Management Inc.’s holdings in FOX were worth $118,000 at the end of the most recent reporting period.

Several other large investors have also recently bought and sold shares of FOXA. Vanguard Group Inc. lifted 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 acquiring an additional 518,835 shares during the last quarter. Invesco Ltd. lifted 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 acquiring an additional 107,687 shares during the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of 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 lifted its holdings in shares of 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 lifted its holdings in shares of 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. 52.52% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

A number of research firms have recently issued reports on FOXA. Morgan Stanley set a $65.00 price objective on shares of FOX in a report on Tuesday. Bank of America lifted 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. Wall Street Zen downgraded shares of FOX from a “buy” rating to a “hold” rating in a report on Saturday, August 9th. Wells Fargo & Company lifted their target price on shares of FOX from $66.00 to $70.00 and gave the stock an “overweight” rating in a research report on Monday, September 8th. Finally, Guggenheim reiterated a “buy” rating and issued a $62.00 target price (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Nine analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to data from MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $56.47.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $58.25 on Friday. The stock has a market cap of $25.95 billion, a PE ratio of 11.86, a PEG ratio of 1.41 and a beta of 0.52. The company’s fifty day moving average is $57.36 and its 200 day moving average is $54.66. Fox Corporation has a 52 week low of $39.08 and a 52 week high of $62.69. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

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

FOX Increases Dividend

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

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.