KLP Kapitalforvaltning AS Has $22.09 Million Stock Holdings in Fox Corporation (NASDAQ:FOXA)

KLP Kapitalforvaltning AS increased its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 34.5% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 390,300 shares of the company's stock after buying an additional 100,100 shares during the period. KLP Kapitalforvaltning AS owned about 0.09% of FOX worth $22,091,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FOXA. Norges Bank acquired a new position in FOX during the 4th quarter worth $132,161,000. FMR LLC grew its position in shares of FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock worth $91,570,000 after acquiring an additional 1,330,908 shares in the last quarter. Allianz Asset Management GmbH increased its holdings in shares of FOX by 85.4% in the 1st quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company's stock valued at $92,914,000 after acquiring an additional 756,116 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in FOX by 54.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock worth $106,783,000 after purchasing an additional 668,553 shares during the last quarter. Finally, Northern Trust Corp boosted its holdings in FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after purchasing an additional 511,554 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the firm's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. 21.77% of the stock is owned by insiders.

FOX Stock Up 0.7%

FOXA stock traded up $0.40 during mid-day 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 has a market capitalization of $25.48 billion, a price-to-earnings ratio of 14.10, a PEG ratio of 1.27 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. Fox Corporation has a 1-year low of $36.09 and a 1-year high of $58.74. The company has a fifty day moving average of $55.41 and a 200 day moving average of $53.25.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS 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 quarter in the prior year, the business posted $1.40 EPS. FOX's quarterly revenue was up 26.8% on a year-over-year basis. On average, equities analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on the stock. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Loop Capital lifted their target price on FOX from $62.00 to $64.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Cfra Research cut FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. One 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. Based on data from MarketBeat, the company presently has a consensus rating of "Hold" and an average target price of $53.53.

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.