Globeflex Capital L P Buys Shares of 14,900 Fox Corporation $FOX

Globeflex Capital L P purchased a new stake in shares of Fox Corporation (NASDAQ:FOX) during the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm purchased 14,900 shares of the company’s stock, valued at approximately $698,000.

Several other hedge funds and other institutional investors also recently made changes to their positions in FOX. Marshall Wace LLP boosted its position in FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after buying an additional 2,827,768 shares during the period. Wedge Capital Management L L P NC acquired a new position in FOX in the 2nd quarter valued at approximately $35,047,000. Bank of New York Mellon Corp increased its position in FOX by 1.5% in the 4th quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock valued at $43,296,000 after acquiring an additional 10,165 shares during the period. Gamco Investors INC. ET AL raised its stake in shares of FOX by 10.0% during the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after acquiring an additional 53,166 shares during the last quarter. Finally, Gabelli Funds LLC raised its stake in shares of FOX by 2.3% during the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock valued at $30,787,000 after acquiring an additional 13,200 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

FOX Trading Up 0.9%

NASDAQ:FOX opened at $61.59 on Tuesday. Fox Corporation has a 52 week low of $44.08 and a 52 week high of $68.18. The company has a debt-to-equity ratio of 0.56, a quick ratio of 2.99 and a current ratio of 3.17. The firm’s fifty day moving average is $51.76 and its 200-day moving average is $54.20. The firm has a market cap of $25.85 billion, a P/E ratio of 16.08, a P/E/G ratio of 1.67 and a beta of 0.57.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a net margin of 9.84% and a return on equity of 20.64%. Equities analysts expect that Fox Corporation will post 5.91 earnings per share for the current year.

FOX Dividend Announcement

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

Analyst Upgrades and Downgrades

FOX has been the topic of several analyst reports. Wolfe Research set a $93.00 price objective on shares of FOX in a research note on Thursday. Seaport Research Partners downgraded FOX from a “buy” rating to a “hold” rating in a report on Friday, August 7th. JPMorgan Chase & Co. upgraded FOX from a “neutral” rating to an “overweight” rating and upped their price target for the company from $70.00 to $82.00 in a research report on Friday, August 14th. Wells Fargo & Company raised FOX from a “hold” rating to an “overweight” rating and set a $80.00 price target for the company in a research note on Friday, August 14th. Finally, Weiss Ratings downgraded FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Two research analysts have rated the stock with a Strong Buy rating, seven have issued a Buy rating and one has issued a Sell rating to the company. According to MarketBeat.com, the company presently has an average rating of “Buy” and a consensus price target of $77.89.

FOX 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.