Gateway Investment Advisers LLC bought a new stake in Fox Corp (NASDAQ:FOXA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The firm bought 7,812 shares of the company’s stock, valued at approximately $246,000.
Other hedge funds also recently bought and sold shares of the company. YHB Investment Advisors Inc. acquired a new position in shares of FOX during the third quarter valued at $319,000. Country Trust Bank acquired a new position in FOX during the third quarter worth about $14,345,000. Pacer Advisors Inc. acquired a new position in FOX during the third quarter worth about $6,027,000. Artemis Investment Management LLP acquired a new position in FOX during the third quarter worth about $3,378,000. Finally, Addison Capital Co acquired a new position in FOX during the third quarter worth about $627,000. Institutional investors own 55.69% of the company’s stock.
A number of research firms recently issued reports on FOXA. Zacks Investment Research raised FOX from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Macquarie lowered FOX from a “neutral” rating to an “underperform” rating and lowered their target price for the stock from $35.00 to $30.00 in a report on Monday, September 9th. Citigroup lowered their target price on FOX from $40.00 to $38.00 and set a “neutral” rating on the stock in a report on Wednesday, September 11th. Barclays reaffirmed a “hold” rating and set a $38.00 target price on shares of FOX in a report on Friday, July 12th. Finally, Goldman Sachs Group began coverage on FOX in a report on Wednesday, June 26th. They set a “buy” rating and a $46.00 target price on the stock. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and eleven have given a buy rating to the company. The company presently has a consensus rating of “Hold” and an average price target of $42.52.
FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, topping the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $2.51 billion during the quarter, compared to analysts’ expectations of $2.47 billion. The company’s revenue for the quarter was up 5.0% compared to the same quarter last year. During the same period in the prior year, the business posted $0.57 EPS. On average, research analysts predict that Fox Corp will post 2.35 earnings per share for the current year.
The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, October 2nd. Investors of record on Wednesday, September 4th were paid a $0.23 dividend. The ex-dividend date of this dividend was Tuesday, September 3rd. FOX’s dividend payout ratio is currently 17.49%.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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