Board of the Pension Protection Fund Acquires Shares of 8,500 Fox Corporation (NASDAQ:FOXA)

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

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC acquired a new stake in FOX during the 4th quarter worth about $26,000. SRS Capital Advisors Inc. grew its holdings in FOX by 91.0% during the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares during the period. Jones Financial Companies Lllp lifted its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after acquiring an additional 249 shares during the period. CIBC Private Wealth Group LLC boosted its position in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Finally, MV Capital Management Inc. boosted its position in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after purchasing an additional 623 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Stock Up 1.2%

Shares of FOXA opened at $56.68 on Friday. Fox Corporation has a 52-week low of $33.82 and a 52-week high of $58.74. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The stock has a fifty day simple moving average of $53.17 and a two-hundred day simple moving average of $52.17. The company has a market capitalization of $25.48 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. FOX's quarterly revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

Analyst Ratings Changes

Several equities analysts have recently weighed in on FOXA shares. UBS Group set a $65.00 target price on shares of FOX and gave the company a "buy" rating in a report on Wednesday. Barclays reaffirmed an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Guggenheim reiterated a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Two investment 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.com, FOX has a consensus rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. 21.77% of the stock is currently owned by company insiders.

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.

Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corporation (NASDAQ:FOXA - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.