51,561 Shares in Fox Corporation $FOX Purchased by Public Employees Retirement System of Ohio

Public Employees Retirement System of Ohio acquired a new stake in shares of Fox Corporation (NASDAQ:FOX) in the second quarter, Holdings Channel reports. The fund acquired 51,561 shares of the company’s stock, valued at approximately $2,415,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in the company. Brown Brothers Harriman & Co. increased its position in shares of FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after acquiring an additional 475 shares in the last quarter. Versant Capital Management Inc lifted its position in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after acquiring an additional 251 shares in the last quarter. Geneos Wealth Management Inc. lifted its position in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares in the last quarter. EverSource Wealth Advisors LLC boosted its stake in FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock worth $119,000 after purchasing an additional 1,301 shares during the period. Finally, Glenmede Trust Co. NA boosted its stake in FOX by 143.9% in the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock worth $143,000 after purchasing an additional 1,591 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the stock. Citigroup reissued a “buy” rating on shares of FOX in a research note on Friday, July 17th. Rothschild & Co Redburn set a $71.00 price target on FOX in a report on Friday, July 10th. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Weiss Ratings lowered FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research report on Wednesday, August 26th. Finally, Zacks Research cut FOX from a “strong-buy” rating to a “hold” rating in a research note on Friday, August 28th. One equities research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the company. According to data from MarketBeat.com, FOX presently has an average rating of “Moderate Buy” and a consensus price target of $77.89.

FOX Stock Down 3.4%

FOX stock opened at $58.42 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. Fox Corporation has a 52-week low of $44.08 and a 52-week high of $68.18. The company has a 50-day moving average of $54.39 and a two-hundred day moving average of $54.48. The stock has a market capitalization of $24.52 billion, a price-to-earnings ratio of 15.25, a price-to-earnings-growth ratio of 1.60 and a beta of 0.58.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. As a group, equities research analysts anticipate that Fox Corporation will post 5.91 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.29 dividend. This represents a yield of 96.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is currently 15.14%.

FOX Profile

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.