Greystone Financial Group LLC Decreases Stake in Fox Co. (NASDAQ:FOXA)

Greystone Financial Group LLC reduced its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 21.9% during the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 161,112 shares of the company's stock after selling 45,206 shares during the period. FOX accounts for about 1.7% of Greystone Financial Group LLC's holdings, making the stock its 29th biggest position. Greystone Financial Group LLC's holdings in FOX were worth $9,119,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently added to or reduced their stakes in the stock. Dimensional Fund Advisors LP increased its stake 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 purchasing an additional 39,959 shares during the last quarter. Northern Trust Corp increased its stake in FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after purchasing an additional 511,554 shares during the last quarter. Norges Bank purchased a new position in FOX in the fourth quarter valued at approximately $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in FOX by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after purchasing an additional 219,016 shares during the last quarter. Finally, Amundi increased its stake in FOX by 9.9% in the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock valued at $119,006,000 after purchasing an additional 219,380 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

FOX stock traded down $0.84 during midday trading on Thursday, reaching $53.82. 3,983,832 shares of the company were exchanged, compared to its average volume of 3,526,863. The company has a market capitalization of $24.20 billion, a price-to-earnings ratio of 11.52, a P/E/G ratio of 1.27 and a beta of 0.51. The firm's 50-day simple moving average is $51.86 and its 200-day simple moving average is $51.52. Fox Co. has a 1 year low of $32.76 and a 1 year high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 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 return on equity of 18.50% and a net margin of 14.39%. The firm's quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 EPS. On average, analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

Analyst Upgrades and Downgrades

A number of brokerages have recently issued reports on FOXA. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Wolfe Research lowered shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price on the stock. in a research report on Monday, April 7th. Wells Fargo & Company raised their target price on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. UBS Group raised their target price on shares of FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research 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 company. Based on data from MarketBeat.com, FOX currently has an average rating of "Hold" and an average price target of $52.71.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer now 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 through this link. 21.77% of the stock is currently owned by company insiders.

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.