Handelsbanken Fonder AB Has $1.10 Million Stock Holdings in Fox Corporation $FOX

Handelsbanken Fonder AB trimmed its position in Fox Corporation (NASDAQ:FOX) by 28.5% during the second quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 23,564 shares of the company’s stock after selling 9,390 shares during the quarter. Handelsbanken Fonder AB’s holdings in FOX were worth $1,104,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Marshall Wace LLP boosted its stake in shares of FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after acquiring an additional 2,827,768 shares during the period. Pinebridge Investments LLC acquired a new stake in FOX during the 4th quarter valued at $13,758,000. BI Asset Management Fondsmaeglerselskab A S acquired a new stake in FOX during the 1st quarter valued at $9,328,000. Jane Street Group LLC boosted its position in FOX by 427.0% during the first quarter. Jane Street Group LLC now owns 97,261 shares of the company’s stock worth $5,127,000 after purchasing an additional 78,804 shares during the period. Finally, State of Tennessee Department of Treasury boosted its position in FOX by 352.7% during the second quarter. State of Tennessee Department of Treasury now owns 80,407 shares of the company’s stock worth $4,151,000 after purchasing an additional 62,646 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts have recently issued reports on FOX shares. Citigroup restated a “buy” rating on shares of FOX in a research note on Friday, July 17th. JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and increased their price target for the company from $70.00 to $82.00 in a report on Friday, August 14th. Wells Fargo & Company upgraded FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective for the company in a report on Friday. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Finally, Weiss Ratings cut FOX from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has assigned a Sell rating to the company. Based on data from MarketBeat, FOX has an average rating of “Buy” and a consensus price target of $76.00.

FOX Stock Performance

NASDAQ FOX opened at $61.23 on Wednesday. The firm has a 50-day moving average price of $51.51 and a two-hundred day moving average price of $54.30. Fox Corporation has a 12-month low of $44.08 and a 12-month high of $68.18. The company has a market capitalization of $25.70 billion, a P/E ratio of 15.99, a P/E/G ratio of 1.69 and a beta of 0.57. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. Analysts anticipate that Fox Corporation will post 5.89 earnings per share for the current year.

FOX Announces Dividend

The company also recently declared a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be paid a $0.29 dividend. This represents a dividend yield of 105.0%. The ex-dividend date is Wednesday, September 2nd. FOX’s dividend payout ratio is presently 14.62%.

About FOX

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.