Robeco Institutional Asset Management B.V. Acquires New Stake in Fox Corporation $FOXA

Robeco Institutional Asset Management B.V. acquired a new stake in Fox Corporation (NASDAQ:FOXA) in the third quarter, Holdings Channel reports. The firm acquired 469,188 shares of the company’s stock, valued at approximately $29,395,000.

Several other large investors have also recently added to or reduced their stakes in the business. Diversify Advisory Services LLC purchased a new position in FOX in the 3rd quarter valued at approximately $741,000. Sumitomo Mitsui DS Asset Management Company Ltd purchased a new stake in shares of FOX during the third quarter worth $1,997,000. Counterpoint Mutual Funds LLC purchased a new stake in shares of FOX during the third quarter worth $10,258,000. V Square Quantitative Management LLC increased its position in shares of FOX by 11.5% during the third quarter. V Square Quantitative Management LLC now owns 7,305 shares of the company’s stock worth $458,000 after acquiring an additional 755 shares during the period. Finally, State of Alaska Department of Revenue purchased a new stake in shares of FOX during the third quarter worth $1,183,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the business’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through this link. 20.89% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of several analyst reports. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $80.00 price objective on shares of FOX in a research note on Friday, August 14th. Rothschild & Co Redburn set a $71.00 target price on FOX and gave the stock a “buy” rating in a research note on Friday, July 10th. Jefferies Financial Group downgraded FOX to a “hold” rating in a report on Friday, October 16th. Oppenheimer lowered FOX to a “market perform” rating in a research report on Friday, October 16th. Finally, Wall Street Zen raised FOX from a “hold” rating to a “buy” rating in a research report on Saturday, August 15th. Two investment analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and nine have issued a Hold rating to the stock. According to MarketBeat.com, FOX has an average rating of “Moderate Buy” and an average target price of $78.12.

FOX Trading Up 3.7%

NASDAQ FOXA opened at $68.27 on Friday. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The firm has a 50 day moving average of $65.51 and a two-hundred day moving average of $62.17. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The stock has a market capitalization of $28.65 billion, a PE ratio of 12.10, a price-to-earnings-growth ratio of 1.15 and a beta of 0.60.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company’s revenue was up 28.1% on a year-over-year basis. During the same period last year, the business earned $1.27 EPS. As a group, research analysts expect that Fox Corporation will post 6.06 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a $0.29 dividend. This represents a yield of 86.0%. The ex-dividend date of this dividend was Wednesday, September 2nd. FOX’s dividend payout ratio is 15.14%.

FOX Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.