7,413 Shares in Fox Corporation (NASDAQ:FOXA) Purchased by HB Wealth Management LLC

Key Points

• HB Wealth Management LLC has acquired a new stake in Fox Corporation, purchasing 7,413 shares valued at approximately $420,000.
• Wall Street analysts have mixed views on FOXA, with Bank of America raising its target price to $65.00 and various analysts maintaining a "hold" rating.
• Fox Corporation reported strong earnings, with a net margin of 11.58% and revenue of $4.37 billion, surpassing analysts' expectations.

HB Wealth Management LLC purchased a new position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 7,413 shares of the company's stock, valued at approximately $420,000.

Several other large investors have also bought and sold shares of the business. Assetmark Inc. boosted its stake in FOX by 752.1% during the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock worth $110,464,000 after acquiring an additional 1,722,616 shares during the last quarter. FMR LLC raised its holdings in FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after purchasing an additional 1,330,908 shares during the period. Allianz Asset Management GmbH boosted its position in shares of FOX by 85.4% during the first quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock worth $92,914,000 after purchasing an additional 756,116 shares in the last quarter. Robeco Institutional Asset Management B.V. grew its holdings in shares of FOX by 54.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock valued at $106,783,000 after buying an additional 668,553 shares during the period. Finally, Northern Trust Corp increased its position in shares of FOX by 17.1% in the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. 21.77% of the stock is owned by corporate insiders.

FOX Stock Down 0.4%

Shares of NASDAQ:FOXA traded down $0.22 during midday trading on Friday, hitting $55.54. The stock had a trading volume of 3,918,713 shares, compared to its average volume of 2,604,999. The company has a market cap of $24.97 billion, a P/E ratio of 13.82, a PEG ratio of 1.25 and a beta of 0.54. Fox Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. The business's 50-day simple moving average is $55.43 and its 200-day simple moving average is $53.42. 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 (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share 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 company 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 business earned $1.40 EPS. FOX's revenue for the quarter was up 26.8% compared to the same quarter last year. On average, sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analysts Set New Price Targets

Several research analysts have weighed in on the company. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Bank of America increased their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Morgan Stanley raised their target price on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Finally, Cowen reiterated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have assigned a buy rating to the company. Based on data from MarketBeat, FOX presently has a consensus rating of "Hold" and a consensus target price of $53.53.

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.