Headlands Technologies LLC Buys New Position in Fox Corporation $FOXA

Headlands Technologies LLC bought a new position in shares of Fox Corporation (NASDAQ:FOXA) during the second quarter, HoldingsChannel reports. The institutional investor bought 13,194 shares of the company’s stock, valued at approximately $688,000.

Several other hedge funds and other institutional investors have also recently bought and sold shares of the business. Geode Capital Management LLC lifted its holdings in FOX by 0.5% in the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after acquiring an additional 29,923 shares during the last quarter. Ameriprise Financial Inc. grew its stake in shares of FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares during the last quarter. SG Americas Securities LLC grew its stake in shares of FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after purchasing an additional 383,782 shares during the last quarter. California State Teachers Retirement System raised its holdings in shares of FOX by 11.5% in the 4th quarter. California State Teachers Retirement System now owns 417,901 shares of the company’s stock worth $30,536,000 after purchasing an additional 43,232 shares in the last quarter. Finally, BI Asset Management Fondsmaeglerselskab A S raised its holdings in shares of FOX by 150.9% in the 4th quarter. BI Asset Management Fondsmaeglerselskab A S now owns 377,731 shares of the company’s stock worth $27,601,000 after purchasing an additional 227,209 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Price Performance

NASDAQ FOXA opened at $65.93 on Wednesday. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39. The company has a market cap of $27.67 billion, a PE ratio of 17.21, a PEG ratio of 1.21 and a beta of 0.55. The stock’s 50-day moving average price is $59.80 and its two-hundred day moving average price is $60.38.

FOX (NASDAQ:FOXA) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping the consensus estimate of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to analysts’ expectations of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The business’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period last year, the company posted $1.27 earnings per share. On average, analysts predict that Fox Corporation will post 5.94 EPS for the current year.

FOX Dividend Announcement

The company also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be paid a $0.29 dividend. The ex-dividend date of this dividend is Wednesday, September 2nd. This represents a yield of 88.0%. FOX’s dividend payout ratio (DPR) is currently 14.62%.

Wall Street Analysts Forecast Growth

Several analysts recently commented on the stock. Wells Fargo & Company raised shares of FOX from an “equal weight” rating to an “overweight” rating and increased their target price for the company from $65.00 to $80.00 in a research note on Friday, August 14th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $82.00 in a report on Friday, August 14th. Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a report on Wednesday, August 5th. Wall Street Zen upgraded FOX from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Finally, Seaport Research Partners lowered FOX from a “buy” rating to a “neutral” rating in a research note on Friday, August 7th. Nine equities research analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus price target of $74.38.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.