Fox Corporation (NASDAQ:FOXA) Shares Sold by Bessemer Group Inc.

Bessemer Group Inc. trimmed its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 64.5% during the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 28,091 shares of the company's stock after selling 51,109 shares during the period. Bessemer Group Inc.'s holdings in FOX were worth $1,589,000 at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Strategic Investment Advisors MI grew its position in FOX by 743.1% during the 1st quarter. Strategic Investment Advisors MI now owns 46,178 shares of the company's stock worth $2,614,000 after purchasing an additional 40,701 shares in the last quarter. Moran Wealth Management LLC purchased a new position in FOX during the 1st quarter worth approximately $7,837,000. Asset Management One Co. Ltd. grew its position in FOX by 0.5% during the 1st quarter. Asset Management One Co. Ltd. now owns 118,945 shares of the company's stock worth $6,732,000 after purchasing an additional 565 shares in the last quarter. Oppenheimer & Co. Inc. purchased a new position in FOX during the 1st quarter worth approximately $248,000. Finally, Kentucky Retirement Systems Insurance Trust Fund purchased a new position in FOX during the 1st quarter worth approximately $364,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research analyst reports. Wolfe Research cut shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective on the stock. in a research report on Monday, April 7th. Barclays reiterated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Loop Capital boosted their price target on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a report on Wednesday. Finally, Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, FOX currently has an average rating of "Hold" and an average target price of $53.53.

FOX Trading Up 0.2%

Shares of NASDAQ:FOXA opened at $56.79 on Friday. The stock has a market capitalization of $25.53 billion, a PE ratio of 14.13, a P/E/G ratio of 1.20 and a beta of 0.51. Fox Corporation has a 1 year low of $33.84 and a 1 year high of $58.74. The firm has a fifty day moving average price of $53.34 and a 200 day moving average price of $52.29. 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 (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data 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 firm 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%. FOX's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. Analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on 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 transaction, the chief financial officer now owns 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Company 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.

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