VIRGINIA RETIREMENT SYSTEMS ET Al Acquires Shares of 412,550 Fox Corporation $FOXA

VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in shares of Fox Corporation (NASDAQ:FOXA) during the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor bought 412,550 shares of the company’s stock, valued at approximately $21,519,000.

Other institutional investors have also recently made changes to their positions in the company. Geneos Wealth Management Inc. raised its holdings in FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares in the last quarter. EverSource Wealth Advisors LLC grew its position in shares of FOX by 286.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock worth $77,000 after buying an additional 1,014 shares during the period. Baird Financial Group Inc. increased its stake in shares of FOX by 19.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock worth $981,000 after acquiring an additional 2,876 shares in the last quarter. California State Teachers Retirement System increased its stake in shares of FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after acquiring an additional 49,963 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after acquiring an additional 762,645 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

FOXA opened at $65.42 on Tuesday. The stock has a 50-day moving average price of $61.14 and a 200-day moving average price of $60.66. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The firm has a market cap of $27.45 billion, a PE ratio of 17.08, a P/E/G ratio of 1.18 and a beta of 0.55. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. FOX had a net margin of 9.84% and a return on equity of 20.64%. The company had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. During the same quarter in the previous year, the business posted $1.27 EPS. FOX’s revenue was up 28.1% compared to the same quarter last year. Sell-side analysts predict that Fox Corporation will post 5.94 earnings per share for the current fiscal year.

FOX Announces Dividend

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

Analyst Ratings Changes

Several equities research analysts recently commented on the stock. JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and boosted their price objective for the stock from $70.00 to $82.00 in a research note on Friday, August 14th. Guggenheim reaffirmed a “buy” rating and set a $85.00 target price on shares of FOX in a research note on Tuesday, August 25th. Evercore set a $73.00 target price on shares of FOX in a report on Tuesday, May 12th. Fox Advisors set a $82.00 price target on FOX in a research report on Friday, August 14th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and issued a $80.00 price target on shares of FOX in a research report on Friday, August 14th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $74.38.

FOX Profile

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.