Allspring Global Investments Holdings LLC Sells 194,208 Shares of Fox Corporation (NASDAQ:FOXA)

Allspring Global Investments Holdings LLC lowered its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 20.8% during the first quarter, according to the company in its most recent Form 13F filing with the SEC. The institutional investor owned 741,169 shares of the company's stock after selling 194,208 shares during the quarter. Allspring Global Investments Holdings LLC owned about 0.16% of FOX worth $41,372,000 as of its most recent filing with the SEC.

Several other hedge funds have also modified their holdings of FOXA. DnB Asset Management AS lifted its position in FOX by 0.6% during the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after purchasing an additional 245 shares during the period. Jones Financial Companies Lllp raised its stake in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after purchasing an additional 249 shares during the period. SRS Capital Advisors Inc. raised its holdings in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. US Bancorp DE grew its stake in FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company's stock valued at $705,000 after purchasing an additional 281 shares in the last quarter. Finally, Metis Global Partners LLC lifted its stake in FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company's stock valued at $524,000 after acquiring an additional 292 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on the stock. Guggenheim restated a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Morgan Stanley lifted their price objective on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research note on Tuesday, May 13th. Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Finally, Loop Capital boosted their price objective on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, eleven have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company has a consensus rating of "Hold" and a consensus target price of $53.53.

FOX Stock Performance

FOX stock traded down $1.02 during mid-day trading on Wednesday, reaching $54.95. The company's stock had a trading volume of 586,147 shares, compared to its average volume of 3,581,743. The firm's fifty day moving average price is $53.68 and its two-hundred day moving average price is $52.41. The company has a market capitalization of $24.71 billion, a P/E ratio of 13.68, a PEG ratio of 1.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. Fox Corporation has a 12-month low of $33.84 and a 12-month high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate 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 for the quarter, compared to analysts' expectations of $4.14 billion. During the same period in the prior year, the business earned $1.40 earnings per share. FOX's revenue for the quarter was up 26.8% compared to the same quarter last year. Sell-side analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

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.