Venturi Wealth Management LLC Has $320,000 Position in Fox Corporation $FOXA

Venturi Wealth Management LLC boosted its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 12.2% during the second quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 5,716 shares of the company’s stock after buying an additional 620 shares during the period. Venturi Wealth Management LLC’s holdings in FOX were worth $320,000 as of its most recent SEC filing.

A number of other institutional investors have also recently bought and sold shares of the business. Greenleaf Trust boosted its stake in FOX by 3.1% during the first quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock worth $384,000 after buying an additional 205 shares in the last quarter. Allworth Financial LP boosted its stake in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after purchasing an additional 280 shares in the last quarter. Linden Thomas Advisory Services LLC boosted its stake in shares of FOX by 0.6% in the 1st quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company’s stock valued at $2,823,000 after purchasing an additional 293 shares in the last quarter. State of Alaska Department of Revenue boosted its stake in shares of FOX by 1.2% in the 1st quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company’s stock valued at $1,444,000 after purchasing an additional 305 shares in the last quarter. Finally, Hemington Wealth Management boosted its stake in shares of FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after purchasing an additional 359 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities research analysts have recently commented on the stock. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Tuesday, August 5th. Bank of America boosted their target price on shares of FOX from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Weiss Ratings restated a “buy (b+)” rating on shares of FOX in a research note on Wednesday. Wells Fargo & Company boosted their target price on shares of FOX from $66.00 to $70.00 and gave the company an “overweight” rating in a research note on Monday, September 8th. Finally, Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research note on Wednesday, July 9th. Nine equities research analysts have rated the stock with a Buy rating and nine have assigned a Hold rating to the company. According to data from MarketBeat.com, the company has a consensus rating of “Moderate Buy” and an average price target of $57.60.

FOX Stock Performance

FOX stock opened at $57.27 on Friday. The stock has a 50-day simple moving average of $59.27 and a 200 day simple moving average of $55.53. 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 Corporation has a 12-month low of $41.30 and a 12-month high of $65.30. The stock has a market capitalization of $25.52 billion, a price-to-earnings ratio of 11.66, a P/E/G ratio of 1.39 and a beta of 0.54.

FOX (NASDAQ:FOXA) last released its quarterly earnings results 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. The business had revenue of $3.29 billion during the quarter, compared to analysts’ expectations of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%.The firm’s revenue for the quarter was up 6.3% compared to the same quarter last year. During the same period in the previous year, the business posted $0.90 earnings per share. On average, research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Increases Dividend

The company also recently disclosed a dividend, which was paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd were issued a dividend of $0.28 per share. The ex-dividend date of this dividend was Wednesday, September 3rd. This represents a yield of 93.0%. This is an increase from FOX’s previous dividend of $0.18. FOX’s dividend payout ratio (DPR) 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.