Nisa Investment Advisors LLC Makes New Investment in Fox Corporation $FOXA

Nisa Investment Advisors LLC purchased a new stake in Fox Corporation (NASDAQ:FOXA) in the third quarter, HoldingsChannel reports. The institutional investor purchased 16,742 shares of the company’s stock, valued at approximately $1,049,000.

Other large investors also recently bought and sold shares of the company. MassMutual Private Wealth & Trust FSB purchased a new position in shares of FOX during the third quarter worth about $44,000. Elevation Wealth Partners LLC increased its position in shares of FOX by 811.0% during the third quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock worth $57,000 after purchasing an additional 811 shares in the last quarter. Wilkerson Advisory Group LLC lifted its holdings in shares of FOX by 50.6% in the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock valued at $84,000 after purchasing an additional 482 shares during the last quarter. EverSource Wealth Advisors LLC lifted its holdings in shares of FOX by 20.9% in the 1st quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after purchasing an additional 251 shares during the last quarter. Finally, TD Waterhouse Canada Inc. lifted its holdings in shares of FOX by 2,503.4% in the 2nd quarter. TD Waterhouse Canada Inc. now owns 1,536 shares of the company’s stock valued at $80,000 after purchasing an additional 1,477 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of brokerages recently issued reports on FOXA. Weiss Ratings raised FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research report on Tuesday, September 29th. Raymond James Financial upgraded FOX to a “strong-buy” rating in a research note on Friday, October 16th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $80.00 price target on shares of FOX in a research report on Friday, August 14th. Bank of America upgraded FOX from an “underperform” rating to a “buy” rating and boosted their price objective for the company from $54.00 to $85.00 in a research note on Friday, October 16th. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a report on Monday, October 19th. Two analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and nine have assigned a Hold rating to the company’s stock. Based on data from MarketBeat, the company presently has a consensus rating of “Moderate Buy” and a consensus target price of $78.12.

FOX Price Performance

Shares of FOXA opened at $65.33 on Tuesday. Fox Corporation has a fifty-two week low of $48.34 and a fifty-two week high of $76.39. The company has a market capitalization of $27.42 billion, a price-to-earnings ratio of 17.06, a price-to-earnings-growth ratio of 1.16 and a beta of 0.60. The firm has a 50-day simple moving average of $65.53 and a 200-day simple moving average of $62.58. 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:FOXA) last released its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. The business’s revenue was up 28.1% on a year-over-year basis. During the same quarter last year, the company posted $1.27 earnings per share. On average, equities research analysts anticipate that Fox Corporation will post 6.06 earnings per share for the current year.

FOX Announces Dividend

The business also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 86.0%. FOX’s dividend payout ratio is currently 15.14%.

Insiders Place Their Bets

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the firm’s 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 owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. The trade was a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 20.89% of the company’s stock.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.