Great Lakes Advisors LLC Purchases New Shares in Fox Corporation $FOX

Great Lakes Advisors LLC acquired a new stake in shares of Fox Corporation (NASDAQ:FOX) during the second quarter, according to its most recent Form 13F filing with the SEC. The fund acquired 80,952 shares of the company’s stock, valued at approximately $4,222,000.

Other institutional investors have also added to or reduced their stakes in the company. Brown Brothers Harriman & Co. increased its position in shares of FOX by 336.9% during the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after buying an additional 475 shares during the period. Versant Capital Management Inc lifted its holdings in FOX by 42.3% in the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock worth $40,000 after buying an additional 251 shares during the period. Geneos Wealth Management Inc. boosted its position in FOX by 95.1% during the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares in the last quarter. EverSource Wealth Advisors LLC boosted its position in FOX by 130.2% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after acquiring an additional 1,301 shares in the last quarter. Finally, Glenmede Trust Co. NA grew its holdings in shares of 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 acquiring an additional 1,591 shares during the period. 26.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

Several research analysts have recently issued reports on FOX shares. JPMorgan Chase & Co. raised FOX from a “neutral” rating to an “overweight” rating and increased their target price for the stock from $70.00 to $82.00 in a research report on Friday, August 14th. Citigroup restated a “buy” rating on shares of FOX in a research report on Friday, July 17th. Seaport Research Partners cut FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Wolfe Research set a $93.00 price objective on FOX in a report on Thursday. Finally, Wells Fargo & Company raised FOX from a “hold” rating to an “overweight” rating and set a $80.00 price objective for the company in a research report on Friday, August 14th. Two research 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. Based on data from MarketBeat, the company currently has a consensus rating of “Buy” and a consensus price target of $77.89.

FOX Price Performance

FOX stock opened at $60.45 on Friday. The firm has a 50 day moving average price of $51.48 and a 200-day moving average price of $54.24. Fox Corporation has a 52-week low of $44.08 and a 52-week high of $68.18. The firm has a market capitalization of $25.37 billion, a price-to-earnings ratio of 15.78, a PEG ratio of 1.66 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 posted its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping 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 company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. Equities research analysts forecast that Fox Corporation will post 5.91 EPS for the current fiscal year.

FOX Announces Dividend

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