Andra AP fonden Decreases Holdings in Fox Corporation $FOX

Key Points

• Andra AP fonden cut its FOX stake by 32.2% in the fourth quarter, selling 357,200 shares and leaving it with 753,700 shares worth about $48.9 million.
• Institutional interest in FOX remains mixed, with some funds boosting positions sharply while others trimmed holdings; overall, hedge funds and other institutions own about 26.41% of the stock.
• Analysts remain generally constructive on FOX, with a consensus rating of “Moderate Buy” and a $75 average price target, even though Bank of America recently kept an underperform rating and cut its target to $45.

Andra AP fonden trimmed its stake in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 32.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 753,700 shares of the company's stock after selling 357,200 shares during the period. FOX accounts for 0.6% of Andra AP fonden's holdings, making the stock its 28th biggest position. Andra AP fonden owned about 0.17% of FOX worth $48,938,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. AQR Capital Management LLC raised its position in shares of FOX by 65.6% in the first quarter. AQR Capital Management LLC now owns 26,715 shares of the company's stock valued at $1,408,000 after buying an additional 10,579 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. raised its position in shares of FOX by 4.9% in the first quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company's stock valued at $656,000 after buying an additional 586 shares during the last quarter. NewEdge Advisors LLC acquired a new stake in shares of FOX in the first quarter valued at about $224,000. Woodline Partners LP raised its position in shares of FOX by 40.7% in the first quarter. Woodline Partners LP now owns 11,145 shares of the company's stock valued at $587,000 after buying an additional 3,222 shares during the last quarter. Finally, Jane Street Group LLC raised its position in shares of FOX by 427.0% in the first quarter. Jane Street Group LLC now owns 97,261 shares of the company's stock valued at $5,127,000 after buying an additional 78,804 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the stock. Bank of America reiterated an "underperform" rating and issued a $45.00 target price (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. Weiss Ratings restated a "buy (b-)" rating on shares of FOX in a research report on Friday, May 22nd. Finally, Zacks Research upgraded shares of FOX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of "Moderate Buy" and a consensus target price of $75.00.

FOX Stock Up 0.5%

Shares of FOX stock opened at $61.36 on Friday. Fox Corporation has a 52-week low of $48.42 and a 52-week high of $68.18. The company has a 50 day moving average of $57.46 and a 200 day moving average of $58.56. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The company has a market capitalization of $25.78 billion, a P/E ratio of 16.19, a P/E/G ratio of 7.20 and a beta of 0.54.

FOX (NASDAQ:FOX - Get Free Report) last issued 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 net margin of 10.56% and a return on equity of 18.90%. The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. As a group, research analysts forecast that Fox Corporation will post 4.76 EPS for the current fiscal year.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox Corporation’s board extended the CEO and CFO contracts and increased compensation, reinforcing leadership stability and suggesting management confidence in the company’s strategy. Fox Extends CEO and CFO Contracts, Boosts Compensation
• Positive Sentiment: A Reuters report said a Justice Department NFL antitrust probe may be helping Fox by potentially improving its position in future broadcast-rights negotiations. Democrat says Trump NFL probe aimed at helping Fox getting better deal
• Neutral Sentiment: Fox’s news coverage remained focused on major political and geopolitical stories, including Iran developments and U.S. elections, which may support audience traffic but do not directly change the company’s financial outlook.

About FOX

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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