Kapitalo Investimentos Ltda Reduces Stake in Fox Corporation (NASDAQ:FOXA)

Key Points

• Kapitalo Investimentos Ltda has significantly reduced its stake in Fox Corporation by **66.5%**, selling over 11,000 shares, and now holds only **5,701 shares worth $323,000**.
• Analysts have mixed opinions on FOX, with a consensus rating of **"Hold"** and a target price of **$53.53**, reflecting varied outlooks from firms like **Wells Fargo and Morgan Stanley**.
• Fox Corporation has reported a strong quarterly performance with **$1.10 EPS**, exceeding estimates, and a **26.8% increase in revenue** compared to the previous year.

Kapitalo Investimentos Ltda decreased its stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 66.5% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 5,701 shares of the company's stock after selling 11,322 shares during the period. Kapitalo Investimentos Ltda's holdings in FOX were worth $323,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also recently modified their holdings of the business. Empirical Finance LLC raised its holdings in shares of FOX by 2.5% in the 1st quarter. Empirical Finance LLC now owns 22,433 shares of the company's stock valued at $1,270,000 after acquiring an additional 549 shares in the last quarter. HB Wealth Management LLC purchased a new stake in shares of FOX in the 1st quarter valued at about $420,000. Applied Finance Capital Management LLC raised its holdings in shares of FOX by 8.5% in the 1st quarter. Applied Finance Capital Management LLC now owns 12,069 shares of the company's stock valued at $683,000 after acquiring an additional 948 shares in the last quarter. Rothschild & Co Wealth Management UK Ltd raised its holdings in shares of FOX by 5.0% in the 1st quarter. Rothschild & Co Wealth Management UK Ltd now owns 352,996 shares of the company's stock valued at $19,980,000 after acquiring an additional 16,928 shares in the last quarter. Finally, Assetmark Inc. raised its holdings in shares of FOX by 752.1% in the 1st quarter. Assetmark Inc. now owns 1,951,657 shares of the company's stock valued at $110,464,000 after acquiring an additional 1,722,616 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several recent analyst reports. Wolfe Research raised FOX from an "underperform" rating to a "peer perform" rating in a report on Wednesday, July 9th. Wells Fargo & Company increased their price objective on FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research report on Tuesday, May 13th. Cowen reiterated a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Morgan Stanley increased their price objective on FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Finally, Cfra Research lowered FOX from a "moderate buy" rating to a "hold" rating in a research report on Friday, June 27th. One equities research analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, FOX presently has a consensus rating of "Hold" and a consensus target price of $53.53.

FOX Price Performance

Shares of FOXA stock opened at $56.67 on Friday. The firm has a market cap of $25.48 billion, a P/E ratio of 14.10, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Corporation has a fifty-two week low of $36.09 and a fifty-two week high of $58.74. The business's 50 day moving average price is $55.41 and its 200-day moving average price is $53.25. 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 (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The business's quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $1.40 EPS. On average, equities research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction that occurred 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 completion of the transaction, 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 position. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.77% of the stock is currently owned by 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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