Squarepoint Ops LLC Purchases 124,143 Shares of Fox Corporation $FOXA

Squarepoint Ops LLC lifted its position in shares of Fox Corporation (NASDAQ:FOXA) by 12.4% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,127,389 shares of the company’s stock after purchasing an additional 124,143 shares during the period. Squarepoint Ops LLC’s holdings in FOX were worth $58,805,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FOXA. California State Teachers Retirement System lifted its holdings in FOX by 4,720.6% in the 2nd quarter. California State Teachers Retirement System now owns 19,330,183 shares of the company’s stock worth $1,008,262,000 after buying an additional 18,929,193 shares during the period. Ameriprise Financial Inc. increased its position in FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock valued at $101,948,000 after purchasing an additional 762,645 shares during the period. VIRGINIA RETIREMENT SYSTEMS ET Al bought a new position in FOX in the 2nd quarter worth $21,519,000. SG Americas Securities LLC lifted its position in shares of FOX by 299.8% in the 1st quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after purchasing an additional 383,782 shares during the period. Finally, Lazard Asset Management LLC boosted its stake in shares of FOX by 624.5% during the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock valued at $15,753,000 after purchasing an additional 242,321 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA opened at $65.23 on Wednesday. Fox Corporation has a twelve month low of $48.34 and a twelve month high of $76.39. The firm has a market cap of $27.37 billion, a P/E ratio of 17.03, a PEG ratio of 1.18 and a beta of 0.55. The company has a 50 day moving average of $61.40 and a 200 day moving average of $60.72. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56.

FOX (NASDAQ:FOXA) last issued 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. FOX had a return on equity of 20.64% and a net margin of 9.84%.The business had revenue of $4.21 billion during the quarter, compared to analyst estimates of $3.64 billion. During the same quarter in the previous year, the firm earned $1.27 EPS. FOX’s revenue was up 28.1% on a year-over-year basis. As a group, research analysts expect that Fox Corporation will post 5.94 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a dividend, which will be paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd will be given a $0.29 dividend. 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%.

Wall Street Analyst Weigh In

Several analysts have commented on the stock. Guggenheim restated a “buy” rating and issued a $85.00 price objective on shares of FOX in a report on Tuesday, August 25th. Seaport Research Partners lowered FOX from a “buy” rating to a “neutral” rating in a research report on Friday, August 7th. Wells Fargo & Company raised FOX from an “equal weight” rating to an “overweight” rating and upped their price target for the stock from $65.00 to $80.00 in a research note on Friday, August 14th. Weiss Ratings downgraded FOX from a “buy (b-)” rating to a “hold (c+)” rating in a report on Wednesday, August 12th. Finally, UBS Group reissued a “neutral” rating on shares of FOX in a research report on Monday, June 15th. Nine investment analysts have rated the stock with a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus price target of $74.38.

About FOX

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.