Kentucky Retirement Systems Insurance Trust Fund purchased a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 6,430 shares of the company's stock, valued at approximately $364,000.
Several other hedge funds and other institutional investors also recently bought and sold shares of the business. WealthTrak Capital Management LLC purchased a new position in shares of FOX during the 4th quarter valued at approximately $26,000. SRS Capital Advisors Inc. boosted its stake in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the last quarter. Jones Financial Companies Lllp grew its holdings in FOX by 61.5% during the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after acquiring an additional 249 shares in the last quarter. CIBC Private Wealth Group LLC increased its position in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares during the last quarter. Finally, MV Capital Management Inc. increased its position in shares of FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.
Insider Activity at FOX
In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the transaction, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Company insiders own 21.77% of the company's stock.
Wall Street Analyst Weigh In
A number of equities analysts recently commented on FOXA shares. Wells Fargo & Company lifted their price target on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research note on Tuesday, May 13th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Loop Capital boosted their price target on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. UBS Group raised their price objective on FOX from $63.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday. Finally, Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of "Hold" and an average price target of $53.53.
View Our Latest Analysis on FOXA
FOX Stock Performance
FOXA opened at $55.99 on Thursday. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The business's 50 day moving average is $52.99 and its 200-day moving average is $52.10. The stock has a market cap of $25.17 billion, a PE ratio of 13.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.51. Fox Corporation has a twelve month low of $33.82 and a twelve month high of $58.74.
FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the business earned $1.40 EPS. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. On average, analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.
FOX Profile
(
Free Report)
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.
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