Andra AP fonden Buys 166,822 Shares of Fox Corporation $FOXA

Key Points

• Andra AP fonden increased its stake in Fox Corporation by 208.1% in the first quarter, buying 166,822 additional shares to bring its total holding to 247,000 shares worth about $14.4 million.
• Several analysts recently adjusted their views on FOXA, with price targets ranging from $60 to $79. The stock currently carries a Moderate Buy consensus rating and an average target price of $73.56.
• Fox reported quarterly earnings of $1.32 per share, beating expectations, while revenue came in at $3.99 billion; the company’s stock was trading around $57.57, below its 52-week high of $76.39.

Andra AP fonden boosted its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 208.1% during the 1st quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 247,000 shares of the company's stock after purchasing an additional 166,822 shares during the quarter. Andra AP fonden owned about 0.06% of FOX worth $14,425,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also made changes to their positions in the company. FWL Investment Management LLC bought a new stake in FOX in the 3rd quarter worth approximately $26,000. Elyxium Wealth LLC purchased a new stake in FOX during the fourth quarter valued at $27,000. CYBER HORNET ETFs LLC bought a new position in FOX during the second quarter valued at $35,000. Quantbot Technologies LP bought a new stake in shares of FOX in the 3rd quarter worth about $51,000. Finally, Private Trust Co. NA raised its position in shares of FOX by 35.6% during the 4th quarter. Private Trust Co. NA now owns 712 shares of the company's stock valued at $52,000 after buying an additional 187 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

Several research analysts recently commented on FOXA shares. Wells Fargo & Company dropped their price target on FOX from $71.00 to $65.00 and set an "equal weight" rating for the company in a research report on Monday, July 6th. Evercore set a $73.00 price objective on FOX in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reiterated a "buy" rating and issued a $79.00 target price on shares of FOX in a report on Tuesday, May 12th. Barclays cut their target price on FOX from $67.00 to $60.00 and set an "equal weight" rating on the stock in a research report on Monday, June 15th. Finally, JPMorgan Chase & Co. increased their price target on FOX from $69.00 to $70.00 and gave the company a "neutral" rating in a report on Tuesday, May 12th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat, FOX currently has an average rating of "Moderate Buy" and a consensus target price of $73.56.

FOX Trading Up 0.2%

FOXA stock opened at $57.57 on Wednesday. The company has a market capitalization of $24.19 billion, a PE ratio of 15.19, a P/E/G ratio of 1.64 and a beta of 0.54. Fox Corporation has a 12 month low of $48.34 and a 12 month high of $76.39. The firm's 50-day moving average is $59.17 and its 200 day moving average is $62.03. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The business had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The business's revenue was down 8.6% compared to the same quarter last year. On average, research analysts anticipate that Fox Corporation will post 4.94 EPS for the current year.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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