Federated Hermes Inc. Raises Holdings in Fox Corporation (NASDAQ:FOXA)

Federated Hermes Inc. increased its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 164,675.7% in the 1st quarter, according to its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 1,255,591 shares of the company's stock after purchasing an additional 1,254,829 shares during the period. Federated Hermes Inc. owned approximately 0.28% of FOX worth $71,066,000 as of its most recent SEC filing.

A number of other institutional investors also recently added to or reduced their stakes in FOXA. CWM LLC raised its holdings in FOX by 8.6% in the 1st quarter. CWM LLC now owns 6,663 shares of the company's stock valued at $377,000 after acquiring an additional 527 shares during the last quarter. CIBC Private Wealth Group LLC grew 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 during the last quarter. Sequoia Financial Advisors LLC grew its position in FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company's stock worth $364,000 after purchasing an additional 464 shares during the last quarter. Private Trust Co. NA grew its position in FOX by 86.5% in the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after purchasing an additional 431 shares during the last quarter. Finally, Janney Montgomery Scott LLC boosted its holdings in shares of FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after acquiring an additional 19,181 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Price Performance

Shares of FOXA traded down $0.46 during mid-day trading on Wednesday, reaching $55.46. 3,218,952 shares of the stock traded hands, compared to its average volume of 2,655,842. 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 company has a market cap of $24.94 billion, a price-to-earnings ratio of 13.80, a price-to-earnings-growth ratio of 1.25 and a beta of 0.51. The firm has a fifty day moving average price of $55.41 and a 200 day moving average price of $53.35. Fox Corporation has a 1 year low of $36.09 and a 1 year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly 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. FOX had a net margin of 11.58% and a return on equity of 17.99%. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm earned $1.40 earnings per share. FOX's revenue was up 26.8% on a year-over-year basis. As a group, equities research analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of FOX 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 filing with the SEC, which is available through the SEC website. Corporate insiders own 21.77% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the subject of several recent analyst reports. Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Morgan Stanley lifted their target price on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Bank of America boosted their price target on shares of FOX from $60.00 to $65.00 and gave the company a "buy" rating in a research report on Wednesday, June 25th. Wells Fargo & Company upped their target price on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Finally, Wolfe Research raised shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, the company has an average rating of "Hold" and a consensus target price 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.