Fox Corporation $FOXA Shares Sold by Comerica Bank

Comerica Bank reduced its position in Fox Corporation (NASDAQ:FOXA) by 10.9% in the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 36,020 shares of the company’s stock after selling 4,393 shares during the period. Comerica Bank’s holdings in FOX were worth $2,039,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. CWM LLC lifted its stake in shares of FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company’s stock valued at $377,000 after purchasing an additional 527 shares during the period. Sequoia Financial Advisors LLC lifted its stake in shares of FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company’s stock valued at $364,000 after purchasing an additional 464 shares during the period. Private Trust Co. NA lifted its stake in shares of FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company’s stock valued at $53,000 after purchasing an additional 431 shares during the period. HB Wealth Management LLC acquired a new position in shares of FOX in the 1st quarter valued at $420,000. Finally, Janney Montgomery Scott LLC raised its position in FOX by 152.1% during the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company’s stock worth $1,800,000 after acquiring an additional 19,181 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

FOX stock opened at $61.05 on Wednesday. Fox Corporation has a 52-week low of $38.72 and a 52-week high of $61.10. The firm has a market capitalization of $27.20 billion, a price-to-earnings ratio of 12.43, a PEG ratio of 1.43 and a beta of 0.52. The company has a fifty day simple moving average of $56.78 and a 200-day simple moving average of $54.49. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.01 by $0.26. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same quarter in the prior year, the firm earned $0.90 earnings per share. The company’s revenue for the quarter was up 6.3% compared to the same quarter last year. On average, equities analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently announced a dividend, which will be paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd will be issued a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. This is a positive change from FOX’s previous dividend of $0.18. This represents a dividend yield of 92.0%. FOX’s payout ratio is currently 11.00%.

Analyst Upgrades and Downgrades

A number of equities analysts have weighed in on FOXA shares. Morgan Stanley upped their price objective on shares of FOX from $60.00 to $65.00 and gave the stock an “equal weight” rating in a research report on Wednesday, August 6th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research report on Tuesday, August 5th. Wolfe Research upgraded shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Wells Fargo & Company upped their price objective on shares of FOX from $62.00 to $66.00 and gave the stock an “overweight” rating in a research report on Thursday, August 14th. Nine equities research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat, FOX has an average rating of “Hold” and an average target price of $56.20.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.