Fox Corporation (NASDAQ:FOXA) Shares Bought by IFP Advisors Inc

Key Points

• IFP Advisors Inc increased its stake in Fox Corporation by 1,321.7%, owning 6,625 shares valued at $375,000, according to their recent SEC filing.
• Fox Corporation reported $1.10 EPS for the latest quarter, exceeding analyst expectations of $0.93, with revenue of $4.37 billion, up 26.8% year-over-year.
• Several hedge funds have recently invested in Fox, contributing to institutional investors owning 52.52% of the company's stock, with Wells Fargo raising their target price to $62.00 and maintaining an "overweight" rating.

IFP Advisors Inc raised its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 1,321.7% during the 1st quarter, according to its most recent filing with the SEC. The firm owned 6,625 shares of the company's stock after acquiring an additional 6,159 shares during the period. IFP Advisors Inc's holdings in FOX were worth $375,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Envestnet Portfolio Solutions Inc. purchased a new stake in FOX during the fourth quarter valued at $206,000. Corient Private Wealth LLC increased its position in FOX by 2.6% during the fourth quarter. Corient Private Wealth LLC now owns 19,546 shares of the company's stock valued at $950,000 after acquiring an additional 497 shares during the last quarter. Sei Investments Co. increased its position in FOX by 5.0% during the fourth quarter. Sei Investments Co. now owns 230,507 shares of the company's stock valued at $11,198,000 after acquiring an additional 11,040 shares during the last quarter. LPL Financial LLC increased its position in FOX by 133.8% during the fourth quarter. LPL Financial LLC now owns 43,791 shares of the company's stock valued at $2,127,000 after acquiring an additional 25,060 shares during the last quarter. Finally, Mitsubishi UFJ Trust & Banking Corp increased its position in FOX by 2.8% during the fourth quarter. Mitsubishi UFJ Trust & Banking Corp now owns 336,359 shares of the company's stock valued at $16,340,000 after acquiring an additional 9,085 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Analysts Set New Price Targets

A number of analysts have commented on FOXA shares. Wolfe Research upgraded FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. UBS Group set a $65.00 price target on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Wells Fargo & Company upped their price target on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley upped their price target on FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction on 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 sale, the chief financial officer owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.77% of the stock is owned by company insiders.

FOX Trading Up 0.7%

Shares of FOXA traded up $0.40 during midday trading on Friday, hitting $56.67. The stock had a trading volume of 2,413,102 shares, compared to its average volume of 2,979,113. The stock's 50 day moving average is $55.41 and its 200 day moving average is $53.25. The firm has a market cap of $25.48 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. 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 Corporation has a 1 year low of $36.09 and a 1 year high of $58.74.

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

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.