Klein Pavlis & Peasley Financial Inc. Invests $277,000 in Fox Corporation (NASDAQ:FOXA)

Key Points

• Klein Pavlis & Peasley Financial Inc. acquired a new position in Fox Corporation, purchasing 4,958 shares valued at approximately $277,000 in the first quarter.
• Institutional investors own approximately 52.52% of Fox Corporation's stock, with significant purchases from firms like Dimensional Fund Advisors and Northern Trust Corp in recent months.
• Analysts rate Fox Corporation's stock as a "Hold," with a consensus price target of $53.53 following various upgrades and downgrades from major financial institutions.

Klein Pavlis & Peasley Financial Inc. purchased a new stake in shares of Fox Corporation (NASDAQ:FOXA - Free Report) during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 4,958 shares of the company's stock, valued at approximately $277,000.

A number of other hedge funds and other institutional investors have also modified their holdings of the stock. Dimensional Fund Advisors LP grew its holdings in shares of FOX by 1.1% during the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock valued at $185,344,000 after buying an additional 39,959 shares in the last quarter. Northern Trust Corp grew its stake 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. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in FOX by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company's stock valued at $130,043,000 after acquiring an additional 219,016 shares during the last quarter. AustralianSuper Pty Ltd raised its holdings in shares of FOX by 8.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock valued at $149,218,000 after purchasing an additional 212,348 shares in the last quarter. Finally, KBC Group NV lifted its stake in shares of FOX by 1.3% in the 1st quarter. KBC Group NV now owns 2,397,604 shares of the company's stock valued at $135,704,000 after purchasing an additional 29,906 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction 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 sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available through this link. 21.77% of the stock is currently owned by insiders.

FOX Price Performance

FOXA traded up $1.44 during trading on Monday, hitting $56.98. The company's stock had a trading volume of 6,540,116 shares, compared to its average volume of 3,952,996. The firm's 50 day moving average price is $55.44 and its two-hundred day moving average price is $53.53. 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 Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. The stock has a market capitalization of $25.62 billion, a price-to-earnings ratio of 14.17, a price-to-earnings-growth ratio of 1.24 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on FOXA shares. Wells Fargo & Company lifted their price objective on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a research note on Tuesday, May 13th. Bank of America raised their target price on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Loop Capital raised their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a report on Wednesday, June 25th. Finally, Cowen reaffirmed a "hold" rating on shares of FOX in a 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 given a buy rating to the company. According to MarketBeat.com, FOX presently has a consensus rating of "Hold" and an average 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.