Board of the Pension Protection Fund Purchases New Position in Fox Corporation (NASDAQ:FOXA)

Board of the Pension Protection Fund acquired a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) in the 1st quarter, according to the company in its most recent filing with the SEC. The firm acquired 8,500 shares of the company's stock, valued at approximately $481,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP increased its stake in FOX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after buying an additional 39,959 shares during the last quarter. Northern Trust Corp grew its stake in FOX by 17.1% in the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. Norges Bank purchased a new position in FOX in the 4th quarter valued at approximately $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew its stake in FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after buying an additional 219,016 shares in the last quarter. Finally, Amundi grew its stake in FOX by 9.9% in the 4th quarter. Amundi now owns 2,434,443 shares of the company's stock valued at $119,006,000 after buying an additional 219,380 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Activity

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

FOX Trading Down 1.3%

Shares of FOXA stock traded down $0.75 during mid-day trading on Monday, reaching $56.04. The stock had a trading volume of 4,034,327 shares, compared to its average volume of 3,580,167. The stock's 50-day moving average price is $53.52 and its two-hundred day moving average price is $52.38. Fox Corporation has a 52-week low of $33.84 and a 52-week high of $58.74. The firm has a market capitalization of $25.20 billion, a PE ratio of 13.94, a price-to-earnings-growth ratio of 1.20 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (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 firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. During the same quarter in the previous year, the company earned $1.40 earnings per share. The company's revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of research firms recently weighed in on FOXA. Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Morgan Stanley raised their price target 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. Finally, Guggenheim reissued a "buy" rating and issued a $62.00 price target (up from $60.00) on shares of FOX in a report on Wednesday, June 25th. Two equities research 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, the company presently has a consensus rating of "Hold" and an average price target of $53.53.

FOX 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.