Fox Corporation $FOX Stock: Robeco Institutional Asset Management B.V. Decreases Position

Robeco Institutional Asset Management B.V. trimmed its stake in Fox Corporation (NASDAQ:FOX) by 99.4% in the 3rd quarter, Holdings Channel.com reports. The firm owned 11,622 shares of the company’s stock after selling 1,916,997 shares during the period. Robeco Institutional Asset Management B.V.’s holdings in FOX were worth $654,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Versant Capital Management Inc increased 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 valued at $40,000 after purchasing an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC bought a new stake in FOX in the second quarter worth $70,000. Glenmede Trust Co. NA lifted its position in FOX by 143.9% in the first 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 last quarter. EverSource Wealth Advisors LLC lifted its position in FOX by 27.6% in the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock worth $151,000 after buying an additional 613 shares during the last quarter. Finally, CX Institutional boosted its stake in FOX by 54.4% during the third quarter. CX Institutional now owns 2,898 shares of the company’s stock worth $163,000 after buying an additional 1,021 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

A number of research firms have weighed in on FOX. Citizens Jmp upgraded shares of FOX to a “strong-buy” rating in a research report on Monday, September 14th. Fox Advisors reissued a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price for the company in a report on Friday, August 14th. Wolfe Research set a $93.00 price target on shares of FOX in a research note on Thursday, August 20th. Finally, Weiss Ratings raised shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Thursday, September 10th. Three analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has issued a Sell rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Buy” and an average target price of $78.40.

Insiders Place Their Bets

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the transaction, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this link. 23.06% of the stock is owned by insiders.

FOX Stock Down 2.2%

NASDAQ:FOX opened at $58.15 on Tuesday. Fox Corporation has a twelve month low of $44.08 and a twelve month high of $68.18. The company has a market cap of $24.40 billion, a price-to-earnings ratio of 15.18, a price-to-earnings-growth ratio of 1.48 and a beta of 0.63. The stock has a fifty day simple moving average of $58.54 and a 200-day simple moving average of $56.25. 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:FOX) last issued its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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%. Analysts anticipate that Fox Corporation will post 6.23 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. The ex-dividend date was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s dividend payout ratio (DPR) is presently 15.14%.

About FOX

Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.