Headlands Technologies LLC Makes New $688,000 Investment in Fox Corporation $FOXA

Headlands Technologies LLC bought a new stake in Fox Corporation (NASDAQ:FOXA) during the second quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 13,194 shares of the company’s stock, valued at approximately $688,000.

Several other hedge funds and other institutional investors also recently modified their holdings of the company. Elyxium Wealth LLC bought a new position in shares of FOX during the fourth quarter worth about $27,000. FWL Investment Management LLC bought a new stake in FOX in the 3rd quarter valued at about $26,000. CYBER HORNET ETFs LLC bought a new stake in FOX in the 2nd quarter valued at about $35,000. Quantbot Technologies LP acquired a new position in FOX during the 3rd quarter valued at about $51,000. Finally, Geneos Wealth Management Inc. boosted its stake in FOX by 205.6% during the 1st quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Down 2.1%

FOX stock opened at $65.93 on Wednesday. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The stock has a market cap of $27.67 billion, a price-to-earnings ratio of 17.21, a PEG ratio of 1.21 and a beta of 0.55. The company’s 50-day moving average price is $59.80 and its two-hundred day moving average price is $60.38. 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 (NASDAQ:FOXA) last issued its quarterly earnings results 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 business’s revenue for the quarter was up 28.1% compared to the same quarter last year. During the same period in the prior year, the business posted $1.27 EPS. On average, analysts expect that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Dividend Announcement

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

Analysts Set New Price Targets

Several brokerages have commented on FOXA. Wolfe Research upgraded shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price target on the stock in a research note on Tuesday, June 30th. UBS Group reiterated a “neutral” rating on shares of FOX in a research report on Monday, June 15th. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and increased their price objective for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Evercore set a $73.00 target price on FOX in a research report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $80.00 target price on shares of FOX in a research note on Friday, August 14th. Nine research analysts have rated the stock with a Buy rating, eight have assigned a Hold rating and one has assigned a Sell rating to the company’s stock. According to MarketBeat.com, the stock presently has a consensus rating of “Hold” and a consensus target price 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.