Handelsbanken Fonder AB Reduces Position in Fox Corporation $FOX

Key Points

• Handelsbanken Fonder AB cut its FOX stake by 51.2% in the fourth quarter, selling 34,377 shares and leaving it with 32,823 shares valued at about $2.13 million.
• FOX recently reported better-than-expected quarterly results, posting EPS of $1.32 versus the $1.02 consensus and revenue of $3.99 billion versus estimates of $3.78 billion.
• Despite mixed analyst views, the stock currently carries a Moderate Buy consensus with an average price target of $75, while insiders have also been selling shares in recent months.

Handelsbanken Fonder AB trimmed its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 51.2% during the fourth quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 32,823 shares of the company's stock after selling 34,377 shares during the quarter. Handelsbanken Fonder AB's holdings in FOX were worth $2,131,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also modified their holdings of the company. Root Financial Partners LLC purchased a new stake in shares of FOX during the third quarter worth about $26,000. Brown Brothers Harriman & Co. increased its holdings in FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company's stock valued at $35,000 after buying an additional 475 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company's stock valued at $76,000 after buying an additional 703 shares during the last quarter. FNY Investment Advisers LLC bought a new stake in FOX in the fourth quarter valued at about $83,000. Finally, EverSource Wealth Advisors LLC increased its holdings in FOX by 130.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company's stock valued at $119,000 after buying an additional 1,301 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

NASDAQ:FOX opened at $57.24 on Monday. The firm has a market capitalization of $24.35 billion, a PE ratio of 15.10, a price-to-earnings-growth ratio of 6.76 and a beta of 0.54. The stock has a 50 day moving average of $55.59 and a 200-day moving average of $58.54. Fox Corporation has a 52 week low of $48.42 and a 52 week high of $68.18. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.02 by $0.30. The company had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. Analysts predict that Fox Corporation will post 4.76 EPS for the current year.

More FOX News

Here are the key news stories impacting FOX this week:

• Neutral Sentiment: Fox News content continued to drive traffic, with multiple politically focused segments and live coverage on Iran, Trump, Cuba, and other breaking-news topics. This supports Fox’s news division visibility, but the stories themselves do not signal an immediate change to earnings outlook. Oil prices fall more than 6% as Trump says Iran negotiations in final stages
• Neutral Sentiment: Commentary from Kevin O’Leary citing a FOX interview highlighted stablecoins and blockchain adoption, reinforcing Fox’s role as a platform for business and investing commentary, though this is not a direct financial driver for FOX shares. Millionaire Businessman Reveals Where The Real Crypto Value Is, And It’s Not Bitcoin
• Neutral Sentiment: Additional Fox News and Fox Video items focused on political analysis, interviews, and human-interest segments, suggesting steady programming output rather than a material business update.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FOX. Wells Fargo & Company lowered FOX from a "strong-buy" rating to a "hold" rating in a report on Thursday, February 5th. Zacks Research raised FOX from a "hold" rating to a "strong-buy" rating in a report on Tuesday, May 12th. Finally, Bank of America reissued an "underperform" rating and issued a $45.00 price objective (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, one has assigned a Hold rating and one has issued a Sell rating to the company. According to MarketBeat, the company currently has a consensus rating of "Moderate Buy" and an average target price of $75.00.

Insider Activity at FOX

In other news, COO John Nallen sold 242,309 shares of the company's stock in a transaction that occurred on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total transaction of $13,990,921.66. Following the completion of the transaction, the chief operating officer directly owned 357,653 shares of the company's stock, valued at approximately $20,650,884.22. This represents a 40.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the company's stock in a transaction that occurred on Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the transaction, the chief executive officer directly owned 152 shares of the company's stock, valued at $8,846.40. This trade represents a 99.98% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Insiders have sold 1,586,871 shares of company stock valued at $91,893,926 over the last ninety days. Corporate insiders own 23.06% of the company's stock.

FOX Company Profile

Fox Corporation NASDAQ: FOX is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX's core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.

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