Nykredit A S Buys New Position in Fox Corporation $FOXA

Nykredit A S acquired a new stake in Fox Corporation (NASDAQ:FOXA) in the 2nd quarter, according to the company in its most recent filing with the SEC. The fund acquired 78,922 shares of the company’s stock, valued at approximately $4,117,000.

Several other institutional investors and hedge funds have also added to or reduced their stakes in the company. Parallel Advisors LLC grew its holdings in FOX by 9.2% during the third quarter. Parallel Advisors LLC now owns 2,532 shares of the company’s stock worth $160,000 after buying an additional 214 shares in the last quarter. Brown Brothers Harriman & Co. boosted its holdings in shares of FOX by 27.5% in the third quarter. Brown Brothers Harriman & Co. now owns 1,062 shares of the company’s stock worth $67,000 after acquiring an additional 229 shares during the period. EverSource Wealth Advisors LLC grew its stake in FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after acquiring an additional 251 shares in the last quarter. Greenleaf Trust grew its position in FOX by 4.4% during the second quarter. Greenleaf Trust now owns 6,295 shares of the company’s stock worth $328,000 after buying an additional 267 shares in the last quarter. Finally, Captrust Financial Advisors grew its stake in FOX by 6.2% in the 2nd quarter. Captrust Financial Advisors now owns 5,597 shares of the company’s stock worth $314,000 after buying an additional 327 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

FOXA stock opened at $65.42 on Monday. The stock’s fifty day moving average price is $60.84 and its 200-day moving average price is $60.60. The company has a market cap of $27.45 billion, a P/E ratio of 17.08, a price-to-earnings-growth 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. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating the consensus estimate of $1.44 by $0.35. The firm 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 quarter in the prior year, the firm earned $1.27 EPS. On average, equities analysts forecast that Fox Corporation will post 5.94 earnings per share for the current year.

FOX Dividend Announcement

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

Analysts Set New Price Targets

FOXA has been the subject of a number of recent research reports. Zacks Research downgraded FOX from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, August 5th. Wolfe Research raised FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price on the stock in a research note on Tuesday, June 30th. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX and gave the company a “buy” rating in a research report on Friday, July 10th. Fox Advisors set a $82.00 target price on FOX in a research report on Friday, August 14th. Finally, Weiss Ratings downgraded shares of FOX from a “buy (b-)” rating to a “hold (c+)” rating in a research note on Wednesday, August 12th. Nine analysts have rated the stock with a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average price target of $74.38.

FOX Company 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.