Fox Corporation $FOXA Stock Position Raised by Livforsakringsbolaget Skandia Omsesidigt

Key Points

• Livforsakringsbolaget Skandia Omsesidigt increased its Fox Corporation stake by 9.9% in the first quarter, buying 25,900 more shares and bringing its total to 287,000 shares worth about $16.8 million.
• Fox stock was down 1.8% to $54.87, trading well below its 52-week high of $76.39 but above its low of $48.34.
• Fox recently beat earnings expectations, posting $1.32 EPS on revenue of $3.99 billion, while analysts currently hold a Moderate Buy consensus with an average target price of $73.56.

Livforsakringsbolaget Skandia Omsesidigt grew its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 9.9% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 287,000 shares of the company's stock after buying an additional 25,900 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt owned approximately 0.07% of FOX worth $16,755,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also made changes to their positions in the company. FWL Investment Management LLC acquired a new position in FOX in the third quarter worth approximately $26,000. Elyxium Wealth LLC acquired a new stake in FOX in the fourth quarter valued at approximately $27,000. CYBER HORNET ETFs LLC acquired a new stake in FOX in the second quarter valued at approximately $35,000. Rosenberg Matthew Hamilton grew its position in FOX by 58.5% in the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company's stock worth $51,000 after acquiring an additional 257 shares in the last quarter. Finally, Quantbot Technologies LP bought a new stake in FOX in the third quarter worth approximately $51,000. Institutional investors own 52.52% of the company's stock.

FOX Trading Down 1.8%

FOX stock opened at $54.87 on Wednesday. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The firm has a market capitalization of $23.06 billion, a PE ratio of 14.48, a PEG ratio of 1.59 and a beta of 0.54. The business's 50-day simple moving average is $59.89 and its 200-day simple moving average is $62.62.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm's revenue for the quarter was down 8.6% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.10 EPS. Equities research analysts forecast that Fox Corporation will post 4.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts have recently weighed in on the stock. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a "buy" rating in a report on Friday. Seaport Research Partners reiterated a "buy" rating and issued a $61.00 price objective on shares of FOX in a report on Tuesday, June 16th. Wolfe Research raised shares of FOX from a "peer perform" rating to an "outperform" rating and set a $71.00 target price on the stock in a research report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reissued a "buy" rating and set a $79.00 target price on shares of FOX in a research report on Tuesday, May 12th. Finally, Zacks Research raised FOX from a "hold" rating to a "strong-buy" rating in a research report on Wednesday, May 13th. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat.com, the stock has an average rating of "Moderate Buy" and a consensus target price of $73.56.

About FOX

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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