Handelsbanken Fonder AB Has $1.10 Million Stock Position in Fox Corporation $FOX

Handelsbanken Fonder AB decreased its stake in shares of Fox Corporation (NASDAQ:FOX) by 28.5% in the 2nd quarter, HoldingsChannel.com reports. The institutional investor owned 23,564 shares of the company’s stock after selling 9,390 shares during the period. Handelsbanken Fonder AB’s holdings in FOX were worth $1,104,000 at the end of the most recent quarter.

Other hedge funds also recently modified their holdings of the company. Brown Brothers Harriman & Co. grew its holdings in FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after purchasing an additional 475 shares during the period. Versant Capital Management Inc boosted its position in shares of FOX by 42.3% during the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after purchasing an additional 251 shares in the last quarter. Geneos Wealth Management Inc. grew its stake in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after buying an additional 703 shares during the period. EverSource Wealth Advisors LLC increased its position in FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after buying an additional 1,301 shares in the last quarter. Finally, Glenmede Trust Co. NA raised its stake in FOX by 143.9% during the 1st quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock worth $143,000 after buying an additional 1,591 shares during the period. Institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

A number of brokerages have recently weighed in on FOX. Wells Fargo & Company raised FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price on the stock in a research report on Friday. Rothschild & Co Redburn set a $71.00 target price on shares of FOX in a report on Friday, July 10th. Weiss Ratings cut FOX from a “buy (b)” rating to a “buy (b-)” rating in a research note on Monday, July 20th. Seaport Research Partners cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Finally, JPMorgan Chase & Co. upgraded shares of FOX from a “neutral” rating to an “overweight” rating and increased their price target for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Two analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has issued a Sell rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Buy” and a consensus price target of $76.00.

FOX Trading Down 0.4%

FOX stock opened at $61.23 on Wednesday. The company’s 50 day moving average price is $51.51 and its two-hundred day moving average price is $54.30. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The company has a market capitalization of $25.70 billion, a PE ratio of 15.99, a price-to-earnings-growth ratio of 1.69 and a beta of 0.57. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion for the quarter, compared to analysts’ expectations of $3.64 billion. As a group, analysts predict that Fox Corporation will post 5.89 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a dividend, which will be paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd will be issued a dividend of $0.29 per share. This represents a dividend yield of 105.0%. The ex-dividend date of this dividend is Wednesday, September 2nd. FOX’s payout ratio is presently 14.62%.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.