37,084 Shares of Fox Corporation $FOXA Purchased by Park Avenue Securities LLC

Park Avenue Securities LLC purchased a new stake in shares of Fox Corporation (NASDAQ:FOXA) during the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund purchased 37,084 shares of the company’s stock, valued at approximately $2,323,000.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Squarepoint Ops LLC grew its position in shares of FOX by 12.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company’s stock worth $58,805,000 after buying an additional 124,143 shares during the last quarter. Allianz Asset Management GmbH lifted its position in shares of FOX by 2.6% in the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company’s stock worth $50,429,000 after purchasing an additional 24,511 shares during the period. Junto Capital Management LP bought a new stake in shares of FOX during the 2nd quarter valued at about $34,773,000. Robeco Institutional Asset Management B.V. bought a new stake in shares of FOX during the 3rd quarter valued at about $29,395,000. Finally, VIRGINIA RETIREMENT SYSTEMS ET Al purchased a new position in shares of FOX during the second quarter valued at about $21,519,000. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling

In other news, CEO Lachlan Murdoch bought 149,934 shares of the firm’s stock in a transaction on Tuesday, September 15th. The shares were bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.89% of the company’s stock.

FOX Trading Down 2.0%

NASDAQ FOXA opened at $63.24 on Friday. Fox Corporation has a 12 month low of $48.34 and a 12 month high of $76.39. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The stock’s fifty day moving average price is $65.09 and its 200-day moving average price is $62.32. The stock has a market cap of $26.54 billion, a P/E ratio of 16.51, a P/E/G ratio of 1.10 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, topping analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion during 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 firm’s revenue for the quarter was up 28.1% on a year-over-year basis. During the same period in the previous year, the business earned $1.27 EPS. As a group, equities analysts forecast that Fox Corporation will post 6.06 EPS for the current fiscal year.

FOX Announces Dividend

The company 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 currently 15.14%.

Wall Street Analyst Weigh In

FOXA has been the subject of several research analyst reports. Wells Fargo & Company upgraded shares of FOX from an “equal weight” rating to an “overweight” rating and raised their price objective for the stock from $65.00 to $80.00 in a report on Friday, August 14th. Seaport Research Partners downgraded FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Finally, Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $80.00 price target on shares of FOX in a research report on Friday, August 14th. Two research analysts have rated the stock with a Strong Buy rating, twelve have assigned a Buy rating and nine have assigned a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $76.94.

FOX Company 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.