99,667 Fox Corporation $FOX Shares Purchased by Perpetual Ltd

Perpetual Ltd grew its stake in Fox Corporation (NASDAQ:FOX) by 174.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 156,900 shares of the company’s stock after buying an additional 99,667 shares during the period. Perpetual Ltd’s holdings in FOX were worth $8,833,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other large investors have also made changes to their positions in the stock. Everhart Financial Group Inc. acquired a new stake in shares of FOX during the 3rd quarter worth approximately $373,000. CX Institutional raised 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 valued at $163,000 after purchasing an additional 1,021 shares in the last quarter. QRG Capital Management Inc. raised its stake in shares of FOX by 2.6% in the second quarter. QRG Capital Management Inc. now owns 28,896 shares of the company’s stock valued at $1,354,000 after purchasing an additional 723 shares in the last quarter. Sequoia Financial Advisors LLC lifted its position in FOX by 4.0% in the second quarter. Sequoia Financial Advisors LLC now owns 6,644 shares of the company’s stock worth $311,000 after purchasing an additional 254 shares during the period. Finally, National Pension Service lifted its position in FOX by 56.2% in the second quarter. National Pension Service now owns 56,048 shares of the company’s stock worth $2,625,000 after purchasing an additional 20,157 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Insider Buying and Selling

In related news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction on Tuesday, September 15th. The shares were purchased 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 of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.06% of the stock is currently owned by corporate insiders.

FOX Stock Up 0.2%

NASDAQ FOX opened at $55.98 on Tuesday. The company has a current ratio of 3.17, a quick ratio of 2.99 and a debt-to-equity ratio of 0.56. The stock’s 50 day moving average is $58.11 and its two-hundred day moving average is $55.42. The company has a market capitalization of $23.49 billion, a price-to-earnings ratio of 14.62, a PEG ratio of 1.45 and a beta of 0.63. Fox Corporation has a 1-year low of $44.08 and a 1-year high of $68.18.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating the consensus estimate of $1.44 by $0.35. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. Equities analysts forecast that Fox Corporation will post 5.99 earnings per share for the current fiscal 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 paid a $0.29 dividend. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a yield of 96.0%. FOX’s payout ratio is currently 15.14%.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FOX shares. Weiss Ratings upgraded shares of FOX from a “hold (c+)” rating to a “buy (b-)” rating in a research note on Thursday, September 10th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 6th. Fox Advisors set a $95.00 price objective on shares of FOX in a research note on Monday, September 14th. Citizens Jmp raised shares of FOX to a “strong-buy” rating in a report on Monday, September 14th. Finally, JPMorgan Chase & Co. raised shares of FOX from a “neutral” rating to an “overweight” rating and raised their price objective for the stock from $70.00 to $82.00 in a report on Friday, August 14th. Three investment analysts have rated the stock with a Strong Buy rating, seven have assigned a Buy rating and one has given a Sell rating to the company’s stock. According to MarketBeat.com, FOX has an average rating of “Buy” and a consensus price target of $77.67.

About FOX

Fox Corporation (NASDAQ: FOX) is a U.S. media 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 Tubi streaming service.

FOX News Media operates FOX News Channel, FOX Business Network, FOX News Digital, FOX Nation, and FOX Weather. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and broadcasts scripted and unscripted television content.