Brookstone Capital Management Increases Holdings in Fox Corporation (NASDAQ:FOXA)

Brookstone Capital Management lifted its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 307.7% during the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 41,268 shares of the company's stock after buying 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.

Other hedge funds also recently bought and sold shares of the company. WealthTrak Capital Management LLC acquired a new stake in shares of FOX in the fourth quarter valued at approximately $26,000. Jones Financial Companies Lllp boosted its position in shares of FOX by 61.5% during the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after buying an additional 249 shares during the period. CIBC Private Wealth Group LLC boosted its position in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after buying an additional 368 shares during the period. MV Capital Management Inc. boosted its position in shares of FOX by 929.9% during the first quarter. MV Capital Management Inc. now owns 690 shares of the company's stock worth $39,000 after buying an additional 623 shares during the period. Finally, Sentry Investment Management LLC purchased a new position in shares of FOX during the first quarter worth $43,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

A number of research analysts recently issued reports on the company. Guggenheim reiterated a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a report on Wednesday, June 25th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Morgan Stanley lifted their target price on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a report on Tuesday, May 13th. Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Finally, Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, FOX currently has a consensus rating of "Hold" and an average target price of $53.53.

FOX Stock Performance

Shares of NASDAQ FOXA traded up $1.52 during midday trading on Thursday, reaching $56.73. 5,008,230 shares of the company were exchanged, compared to its average volume of 3,612,510. 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 Corporation has a 1 year low of $35.18 and a 1 year high of $58.74. The stock has a fifty day simple moving average of $54.41 and a 200 day simple moving average of $52.66. The stock has a market cap of $25.51 billion, a P/E ratio of 14.11, a PEG ratio of 1.23 and a beta of 0.51.

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

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Corporate insiders own 21.77% of the company's stock.

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.