Plato Investment Management Ltd Makes New $1.26 Million Investment in Fox Corporation $FOX

Plato Investment Management Ltd acquired a new stake in Fox Corporation (NASDAQ:FOX) in the second quarter, Holdings Channel reports. The institutional investor acquired 26,143 shares of the company’s stock, valued at approximately $1,261,000.

Other large investors also recently added to or reduced their stakes in the company. Gabelli Funds LLC boosted its position in FOX by 5.2% during the fourth quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock valued at $36,789,000 after buying an additional 28,200 shares during the period. Wedge Capital Management L L P NC bought a new stake in shares of FOX in the 2nd quarter valued at about $35,047,000. Gamco Investors INC. ET AL lifted its stake in shares of FOX by 10.0% in the 1st quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after acquiring an additional 53,166 shares during the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new stake in shares of FOX in the 1st quarter valued at about $9,328,000. Finally, Allstate Corp boosted its holdings in FOX by 243.6% during the 4th quarter. Allstate Corp now owns 13,553 shares of the company’s stock valued at $880,000 after acquiring an additional 9,609 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Price Performance

Shares of FOX stock opened at $61.49 on Tuesday. 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 Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The firm has a market cap of $25.80 billion, a P/E ratio of 16.05, a P/E/G ratio of 1.69 and a beta of 0.57. The business’s 50 day moving average price is $51.51 and its 200-day moving average price is $54.33.

FOX (NASDAQ:FOX) last announced its earnings results on Thursday, August 6th. The company reported $1.79 EPS for the quarter, beating analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion during the quarter, compared to the consensus estimate of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. On average, equities research analysts anticipate that Fox Corporation will post 5.89 earnings per share for the current year.

FOX Announces Dividend

The business also recently declared a dividend, which will be paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd will be given a dividend of $0.29 per share. The ex-dividend date is Wednesday, September 2nd. This represents a dividend yield of 105.0%. FOX’s payout ratio is currently 14.62%.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FOX. Citigroup reaffirmed a “buy” rating on shares of FOX in a research note on Friday, July 17th. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research note on Friday, August 7th. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price on the stock in a report on Friday. Rothschild & Co Redburn set a $71.00 price target on shares of FOX in a report on Friday, July 10th. Finally, Weiss Ratings cut shares of FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. Two equities research analysts have rated the stock with a Strong Buy rating, seven have given a Buy rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX has an average rating of “Buy” and a consensus price target of $76.00.

About FOX

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.