50,108 Shares in Fox Corporation $FOX Purchased by Transmarket Holdings LP

Transmarket Holdings LP bought a new position in Fox Corporation (NASDAQ:FOX) in the 3rd quarter, according to its most recent Form 13F filing with the SEC. The institutional investor bought 50,108 shares of the company’s stock, valued at approximately $2,821,000. FOX makes up about 1.6% of Transmarket Holdings LP’s portfolio, making the stock its 13th biggest holding.

Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc lifted its holdings in FOX by 42.3% during the second quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after purchasing an additional 251 shares in the last quarter. Integrated Wealth Concepts LLC bought a new position in shares of FOX in the second quarter worth approximately $70,000. Glenmede Trust Co. NA boosted its position in shares of 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 purchasing an additional 1,591 shares during the period. EverSource Wealth Advisors LLC increased its stake in shares of 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 purchasing an additional 613 shares in the last quarter. Finally, CX Institutional increased its stake in shares of FOX by 54.4% in the third quarter. CX Institutional now owns 2,898 shares of the company’s stock worth $163,000 after purchasing an additional 1,021 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Insider Transactions at FOX

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

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FOX. Citigroup restated a “market outperform” rating on shares of FOX in a research report on Tuesday, October 20th. JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and upped their target price for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Fox Advisors reiterated a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Citizens Jmp raised shares of FOX to a “strong-buy” rating in a report on Monday, September 14th. Finally, Wolfe Research set a $93.00 target price on FOX in a report on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have issued a Buy rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Buy” and a consensus target price of $78.40.

FOX Trading Down 1.9%

Shares of NASDAQ FOX opened at $56.35 on Thursday. Fox Corporation has a 1-year low of $44.08 and a 1-year high of $68.18. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The business’s 50 day moving average is $58.29 and its two-hundred day moving average is $56.10. The stock has a market capitalization of $23.65 billion, a P/E ratio of 14.71, a PEG ratio of 1.48 and a beta of 0.63.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.44 by $0.35. The business had revenue of $4.21 billion during 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%. As a group, research analysts expect that Fox Corporation will post 6.23 EPS for the current year.

FOX Announces Dividend

The business also recently declared 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. This represents a yield of 96.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s dividend payout ratio 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.