Banco Santander S.A. Lowers Holdings in Fox Corporation (NASDAQ:FOXA)

Key Points

• Banco Santander S.A. reduced its holdings in Fox Corporation by 40.4% during the first quarter, now owning approximately 0.05% of the company, worth $12.9 million.
• Several hedge funds have increased their stakes in Fox, with CIBC Private Wealth Group LLC growing its holding by 122.3% in the previous quarter.
• Analysts currently have a consensus rating of "Hold" for FOX, with an average price target of $53.53 and a mix of buy, hold, and sell ratings among various brokerages.

Banco Santander S.A. reduced its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 40.4% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 227,370 shares of the company's stock after selling 153,846 shares during the period. Banco Santander S.A. owned about 0.05% of FOX worth $12,869,000 at the end of the most recent quarter.

A number of other hedge funds also recently added to or reduced their stakes in FOXA. CIBC Private Wealth Group LLC grew its stake in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares in the last quarter. MV Capital Management Inc. boosted its holdings in FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the period. Sentry Investment Management LLC acquired a new position in FOX during the 1st quarter worth $43,000. Allworth Financial LP increased its holdings in FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after purchasing an additional 280 shares during the period. Finally, TCTC Holdings LLC raised its position in FOX by 112.5% in the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company's stock valued at $45,000 after purchasing an additional 422 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

A number of brokerages have recently commented on FOXA. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Loop Capital boosted their price target on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley raised their price objective on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Finally, Cfra Research lowered FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of "Hold" and an average target price of $53.53.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 39,642 shares of the company's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.77% of the company's stock.

FOX Trading Down 0.4%

FOXA opened at $55.54 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. Fox Corporation has a 52 week low of $36.09 and a 52 week high of $58.74. The business's 50 day moving average is $55.44 and its two-hundred day moving average is $53.46. The firm has a market cap of $24.97 billion, a price-to-earnings ratio of 13.82, a price-to-earnings-growth ratio of 1.25 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last announced 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. FOX had a net margin of 11.58% and a return on equity of 17.99%. The business had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same period in the previous year, the company posted $1.40 EPS. The company's quarterly revenue was up 26.8% on a year-over-year basis. On average, research analysts predict that Fox Corporation will post 4.38 EPS for the current year.

About FOX

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.

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