Retirement Systems of Alabama Reduces Stock Holdings in Fox Corporation (NASDAQ:FOXA)

Retirement Systems of Alabama reduced its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 8.0% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. 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 reporting period.

Other institutional investors and hedge funds have also bought and sold shares of the company. WealthTrak Capital Management LLC purchased a new stake in shares of FOX in the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. grew its stake in shares of FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after acquiring an additional 262 shares during the last quarter. Jones Financial Companies Lllp raised its position in shares of FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock worth $32,000 after purchasing an additional 249 shares during the last quarter. CIBC Private Wealth Group LLC boosted its stake in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Finally, MV Capital Management Inc. grew its position in FOX by 929.9% during the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company's stock valued at $39,000 after purchasing an additional 623 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of NASDAQ:FOXA traded down $0.18 during trading on Tuesday, hitting $55.90. 2,590,221 shares of the company's stock were exchanged, compared to its average volume of 3,565,834. The business's 50-day simple moving average is $52.72 and its 200 day simple moving average is $52.05. The company has a market cap of $25.13 billion, a price-to-earnings ratio of 13.91, a PEG ratio of 1.17 and a beta of 0.51. Fox Corporation has a 52-week low of $33.82 and a 52-week high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping the consensus estimate of $0.93 by $0.17. The firm had revenue of $4.37 billion for 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 company's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter in the previous year, the firm earned $1.40 earnings per share. As a group, equities analysts predict that Fox Corporation will post 4.38 EPS for the current year.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent analyst reports. Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. UBS Group increased their target price on FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Guggenheim reaffirmed a "buy" rating and set a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. Finally, Loop Capital boosted their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company's stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of "Hold" and an average target price of $52.71.

Insider Activity

In related 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 value of $310,459.59. Following the sale, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.77% of the company's stock.

FOX 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.