Janney Montgomery Scott LLC Raises Position in Fox Corporation (NASDAQ:FOXA)

Janney Montgomery Scott LLC lifted its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 152.1% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 31,794 shares of the company's stock after buying an additional 19,181 shares during the period. Janney Montgomery Scott LLC's holdings in FOX were worth $1,800,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new position in FOX in the fourth quarter valued at about $26,000. SRS Capital Advisors Inc. boosted its holdings in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. Finally, MV Capital Management Inc. boosted its holdings in FOX by 929.9% in the first 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. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Up 1.2%

Shares of NASDAQ:FOXA opened at $56.68 on Friday. The company has a fifty day moving average of $53.17 and a 200-day moving average of $52.17. The company has a market capitalization of $25.48 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. Fox Corporation has a 52-week low of $33.82 and a 52-week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates 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 return on equity of 17.99% and a net margin of 11.58%. FOX's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the business posted $1.40 earnings per share. On average, equities analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

A number of research analysts have commented on FOXA shares. Wells Fargo & Company increased their target price on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $62.00 target price (up previously from $60.00) on shares of FOX in a report on Wednesday. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Loop Capital increased their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Finally, Wolfe Research downgraded FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price on the stock. in a report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and an average price target of $53.53.

Insider Activity

In other news, CFO Steven Tomsic sold 39,642 shares of the firm's 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 directly owns 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at 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.

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