Allianz Asset Management GmbH Boosts Stock Position in Fox Corporation (NASDAQ:FOXA)

Allianz Asset Management GmbH boosted its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 85.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 1,641,592 shares of the company's stock after acquiring an additional 756,116 shares during the quarter. Allianz Asset Management GmbH owned 0.36% of FOX worth $92,914,000 at the end of the most recent reporting period.

Several other institutional investors also recently bought and sold shares of the stock. CIBC Private Wealth Group LLC grew its holdings in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the period. Sequoia Financial Advisors LLC grew its holdings in FOX by 7.8% in the first 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 grew its holdings in FOX by 86.5% in the first 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. Janney Montgomery Scott LLC grew its holdings in FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after purchasing an additional 19,181 shares during the period. Finally, Summit Trail Advisors LLC grew its holdings in FOX by 199.8% in the first quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock valued at $1,744,000 after purchasing an additional 20,531 shares during the period. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Trading Up 0.4%

NASDAQ:FOXA traded up $0.22 on Thursday, reaching $56.69. The company's stock had a trading volume of 1,052,144 shares, compared to its average volume of 3,970,994. Fox Corporation has a 12-month low of $36.09 and a 12-month high of $58.74. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The firm has a market cap of $25.49 billion, a price-to-earnings ratio of 14.10, a price-to-earnings-growth ratio of 1.25 and a beta of 0.51. The stock has a 50 day moving average price of $55.38 and a 200 day moving average price of $53.12.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.40 earnings per share. On average, equities analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

Analyst Ratings Changes

Several analysts have commented on the company. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Loop Capital raised their price objective on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley lifted their price target on FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Cowen reaffirmed a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Barclays reaffirmed an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $53.53.

Insider Activity

In related news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Corporate insiders own 21.77% of the company's stock.

FOX Company 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.