Brookstone Capital Management Has $2.34 Million Stake in Fox Corporation (NASDAQ:FOXA)

Brookstone Capital Management lifted its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 307.7% during the 1st quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 41,268 shares of the company's stock after purchasing an additional 31,147 shares during the quarter. Brookstone Capital Management's holdings in FOX were worth $2,336,000 as of its most recent SEC filing.

Several other hedge funds also recently modified their holdings of the business. Norges Bank acquired a new position in FOX in the 4th quarter valued at $132,161,000. Jupiter Asset Management Ltd. acquired a new position in FOX in the 4th quarter valued at $67,471,000. FMR LLC grew its stake in FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after buying an additional 1,330,908 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its stake in FOX by 54.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock valued at $106,783,000 after buying an additional 668,553 shares during the last quarter. Finally, Victory Capital Management Inc. boosted its holdings in FOX by 338.7% in the 4th quarter. Victory Capital Management Inc. now owns 857,929 shares of the company's stock valued at $41,678,000 after purchasing an additional 662,367 shares during the period. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity

In related news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This trade represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. 21.77% of the stock is owned by company insiders.

FOX Price Performance

Shares of FOX stock traded up $0.12 during mid-day trading on Wednesday, reaching $55.21. 2,071,624 shares of the stock were exchanged, compared to its average volume of 3,606,927. The company has a market cap of $24.82 billion, a price-to-earnings ratio of 13.73, a price-to-earnings-growth ratio of 1.23 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. The firm has a 50-day simple moving average of $54.41 and a 200 day simple moving average of $52.66. Fox Corporation has a fifty-two week low of $35.18 and a fifty-two week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analysts' expectations of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the company posted $1.40 EPS. On average, sell-side analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on FOXA shares. 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. Wells Fargo & Company increased their price target on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. 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. Morgan Stanley increased 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, Cfra Research downgraded shares of FOX from a "moderate buy" rating to a "hold" rating in a report on Friday, June 27th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus price target of $53.53.

FOX Company 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.