Factory Mutual Insurance Co. Invests $49.57 Million in Fox Corp (NASDAQ:FOXA)

Factory Mutual Insurance Co. acquired a new position in Fox Corp (NASDAQ:FOXA) in the third quarter, Holdings Channel.com reports. The fund acquired 1,572,064 shares of the company’s stock, valued at approximately $49,574,000.

Several other institutional investors have also bought and sold shares of FOXA. Meeder Asset Management Inc. acquired a new stake in shares of FOX in the 3rd quarter worth $25,000. Macquarie Group Ltd. acquired a new stake in shares of FOX in the 2nd quarter worth $29,000. Whittier Trust Co. acquired a new stake in shares of FOX in the 3rd quarter worth $33,000. Asset Dedication LLC acquired a new stake in shares of FOX in the 3rd quarter worth $37,000. Finally, Whittier Trust Co. of Nevada Inc. acquired a new stake in shares of FOX in the 3rd quarter worth $44,000. 55.70% of the stock is owned by hedge funds and other institutional investors.

A number of analysts have recently weighed in on FOXA shares. Citigroup lowered their price objective on FOX from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Barclays reissued a “hold” rating and issued a $38.00 price objective on shares of FOX in a research report on Friday, July 12th. Goldman Sachs Group started coverage on FOX in a research report on Wednesday, June 26th. They issued a “buy” rating and a $46.00 price objective for the company. Zacks Investment Research raised FOX from a “sell” rating to a “hold” rating in a research report on Tuesday, August 27th. Finally, BidaskClub cut FOX from a “hold” rating to a “sell” rating in a research report on Saturday, August 24th. Seven research analysts have rated the stock with a sell rating, eight have given a hold rating and eleven have given a buy rating to the stock. The stock currently has a consensus rating of “Hold” and a consensus price target of $42.52.

FOXA stock traded up $0.68 during midday trading on Tuesday, reaching $33.42. The stock had a trading volume of 2,741,031 shares, compared to its average volume of 4,702,210. The stock has a market cap of $19.99 billion and a PE ratio of 12.71. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.12 and a current ratio of 3.78. The firm has a fifty day simple moving average of $32.19 and a two-hundred day simple moving average of $35.23. Fox Corp has a 52-week low of $29.69 and a 52-week high of $41.95.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter, beating the Zacks’ consensus estimate of $0.59 by $0.03. The company had revenue of $2.51 billion for the quarter, compared to analysts’ expectations of $2.47 billion. The business’s quarterly revenue was up 5.0% on a year-over-year basis. During the same quarter in the previous year, the business posted $0.57 EPS. On average, sell-side analysts predict that Fox Corp will post 2.35 EPS for the current fiscal year.

The business also recently disclosed a Semi-Annual dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 4th were paid a dividend of $0.23 per share. The ex-dividend date of this dividend was Tuesday, September 3rd. FOX’s payout ratio is currently 17.49%.

FOX Company Profile

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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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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