Fox Corporation (NASDAQ:FOXA) Shares Sold by Retirement Systems of Alabama

Retirement Systems of Alabama trimmed its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 8.0% during the first quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 604,935 shares of the company's stock after selling 52,320 shares during the quarter. Retirement Systems of Alabama owned approximately 0.13% of FOX worth $34,239,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in shares of FOX in the 4th quarter valued at $26,000. SRS Capital Advisors Inc. increased its holdings in shares of FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after acquiring an additional 262 shares during the period. Jones Financial Companies Lllp increased its holdings 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 acquiring an additional 249 shares during the period. CIBC Private Wealth Group LLC increased its holdings in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after acquiring an additional 368 shares during the period. Finally, MV Capital Management Inc. increased its holdings in shares of FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after acquiring an additional 623 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at $7,405,941.90. The trade was a 22.84% decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Insiders own 21.77% of the company's stock.

FOX Stock Performance

NASDAQ:FOXA opened at $55.25 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. Fox Corporation has a fifty-two week low of $33.82 and a fifty-two week high of $58.74. The stock has a market cap of $24.84 billion, a PE ratio of 13.74, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. The firm's fifty day simple moving average is $52.59 and its 200-day simple moving average is $51.91.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS 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 business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the previous year, the firm earned $1.40 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts expect that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of brokerages have recently commented on FOXA. Loop Capital lifted their target price on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Barclays reaffirmed an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. 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 note on Monday, April 7th. Guggenheim reissued a "buy" rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Finally, Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat, the company has an average rating of "Hold" and a consensus price target of $52.71.

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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