Andra AP fonden Decreases Stock Holdings in Fox Corporation $FOX

Key Points

• Andra AP fonden cut its Fox Corporation stake by 69.5% in the first quarter, selling 523,778 shares and leaving it with 229,922 shares worth about $12.2 million.
• Analyst sentiment is mixed but generally positive, with FOX holding an average “Moderate Buy” rating and a consensus price target of $74.33, even as a few firms recently downgraded the stock.
• FOX shares were trading around $51.47, below their 52-week high, after the company previously beat earnings expectations with $1.32 EPS and $3.99 billion in revenue for the quarter.

Andra AP fonden lowered its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 69.5% during the first quarter, according to its most recent 13F filing with the SEC. The firm owned 229,922 shares of the company's stock after selling 523,778 shares during the quarter. Andra AP fonden owned 0.05% of FOX worth $12,209,000 as of its most recent filing with the SEC.

Other large investors also recently added to or reduced their stakes in the company. Yousif Capital Management LLC boosted its stake in shares of FOX by 1.5% in the fourth quarter. Yousif Capital Management LLC now owns 16,997 shares of the company's stock worth $1,107,000 after acquiring an additional 259 shares during the last quarter. Baird Financial Group Inc. raised its stake in FOX by 1.1% in the 2nd quarter. Baird Financial Group Inc. now owns 31,707 shares of the company's stock valued at $1,637,000 after purchasing an additional 343 shares during the last quarter. Brown Brothers Harriman & Co. raised its stake in FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock valued at $35,000 after purchasing an additional 475 shares during the last quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. lifted its holdings in FOX by 4.9% in the 1st quarter. MIRAE ASSET GLOBAL ETFS HOLDINGS Ltd. now owns 12,446 shares of the company's stock valued at $656,000 after purchasing an additional 586 shares in the last quarter. Finally, Geneos Wealth Management Inc. lifted its holdings in FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company's stock valued at $76,000 after purchasing an additional 703 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Trending Headlines about FOX

Here are the key news stories impacting FOX this week:

• Negative Sentiment: Unusual put options activity suggests some traders are betting on further downside in Fox Corporation (FOX), even as the shares have bounced from recent lows following market reaction to the company’s Roku-related deal. Unusual Put Options Volume in Fox Corp After FOXA Stock Rebounds After Roku Deal Reaction
• Neutral Sentiment: FOX News and FOX Weather generated a steady stream of traffic with coverage of major political and weather events, including Iran developments, U.S. election politics, and Tropical Storm Bertha. This supports the value of Fox’s media assets, but the articles themselves do not clearly change the company’s financial outlook.
• Neutral Sentiment: Fox Corporation disclosed $1.34 million in lobbying spending tied to carriage, copyright, privacy, streaming, antitrust, and media-ownership issues, highlighting the company’s ongoing policy footprint, though the filing is not likely to move the stock by itself. Lobbying Update: $1,340,000 of FOX CORPORATION lobbying was just disclosed
• Negative Sentiment: Analysts are expecting Fox’s upcoming earnings to show a single-digit decline in earnings, which could weigh on sentiment ahead of the report. Here's What to Expect From Fox Corporation’s Next Earnings Report

Analyst Upgrades and Downgrades

FOX has been the topic of several research reports. Zacks Research downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a research note on Wednesday, July 1st. Citigroup reaffirmed a "buy" rating on shares of FOX in a research note on Friday. Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a report on Friday, July 10th. Finally, Weiss Ratings lowered shares of FOX from a "buy (b)" rating to a "buy (b-)" rating in a research note on Monday. One research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of "Moderate Buy" and a consensus target price of $74.33.

FOX Trading Down 0.2%

FOX opened at $51.47 on Wednesday. The stock has a market capitalization of $21.63 billion, a PE ratio of 13.58, a P/E/G ratio of 1.47 and a beta of 0.57. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The business's 50 day moving average price is $53.18 and its 200 day moving average price is $55.93.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating analysts' consensus estimates of $1.02 by $0.30. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. As a group, equities research analysts expect that Fox Corporation will post 4.78 EPS for the current year.

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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