Howard Capital Management Inc. Reduces Holdings in Fox Corporation (NASDAQ:FOXA)

Howard Capital Management Inc. trimmed its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 6.7% in the first quarter, according to its most recent Form 13F filing with the SEC. The institutional investor owned 98,325 shares of the company's stock after selling 7,012 shares during the period. Howard Capital Management Inc.'s holdings in FOX were worth $5,565,000 as of its most recent SEC filing.

Several other hedge funds have also made changes to their positions in the company. Dimensional Fund Advisors LP boosted its position in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after buying an additional 39,959 shares in the last quarter. Northern Trust Corp increased its position in shares of FOX by 17.1% during the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after acquiring an additional 511,554 shares in the last quarter. Norges Bank acquired a new stake in FOX in the fourth quarter valued at $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of FOX by 8.9% during the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock worth $130,043,000 after buying an additional 219,016 shares during the last quarter. Finally, AustralianSuper Pty Ltd increased its position in FOX by 8.8% during the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock worth $149,218,000 after acquiring an additional 212,348 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

Several research firms recently commented on FOXA. 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 research report on Tuesday, May 13th. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Cowen reaffirmed a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Loop Capital upped their price objective on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the company has an average rating of "Hold" and an average target price of $53.53.

FOX Price Performance

Shares of FOXA traded down $0.46 during trading hours on Wednesday, reaching $55.46. The company had a trading volume of 3,218,952 shares, compared to its average volume of 2,655,842. The firm has a 50 day simple moving average of $55.41 and a 200-day simple moving average of $53.35. 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 capitalization of $24.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.51. Fox Corporation has a 12-month low of $36.09 and a 12-month high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. During the same period last year, the firm posted $1.40 EPS. Research analysts expect that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Activity

In related news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Corporate insiders own 21.77% of the company's stock.

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.