Ameriprise Financial Inc. Purchases 38,800 Shares of Fox Co. (NASDAQ:FOXA)

Ameriprise Financial Inc. increased its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 30.5% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 166,202 shares of the company's stock after purchasing an additional 38,800 shares during the quarter. Ameriprise Financial Inc.'s holdings in FOX were worth $8,074,000 at the end of the most recent quarter.

Several other hedge funds have also modified their holdings of FOXA. Norges Bank bought a new stake in shares of FOX during the fourth quarter worth $132,161,000. Jupiter Asset Management Ltd. bought a new position in shares of FOX in the 4th quarter valued at about $67,471,000. FMR LLC boosted its stake in shares of FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after purchasing an additional 1,330,908 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its stake in shares of FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock worth $59,174,000 after buying an additional 919,883 shares during the last quarter. Finally, Allianz Asset Management GmbH lifted its holdings in FOX by 3,077.5% in the fourth quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company's stock valued at $43,016,000 after buying an additional 857,609 shares during the period. 52.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have commented on FOXA shares. UBS Group upped their target price on shares of FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Wells Fargo & Company increased their target price on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. The Goldman Sachs Group set a $60.00 target price on FOX and gave the stock a "buy" rating in a research report on Tuesday, February 4th. Finally, Wolfe Research cut FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target for the company. in a research note on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat.com, the company presently has a consensus rating of "Hold" and a consensus price target of $52.71.

FOX Stock Up 0.1%

Shares of NASDAQ:FOXA traded up $0.06 during mid-day trading on Friday, reaching $55.04. 2,905,809 shares of the stock were exchanged, compared to its average volume of 3,502,463. The company has a market cap of $24.75 billion, a P/E ratio of 11.79, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a one year low of $32.76 and a one year high of $58.74. The stock's 50 day simple moving average is $51.68 and its 200-day simple moving average is $50.73. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data 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 18.50% and a net margin of 14.39%. The company had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter last year, the company earned $1.40 EPS. FOX's revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, equities research analysts predict that Fox Co. will post 4.38 EPS for the current year.

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.