Manning & Napier Advisors LLC Has $1.67 Million Position in Fox Corporation (NASDAQ:FOXA)

Manning & Napier Advisors LLC reduced its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 56.0% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 29,513 shares of the company's stock after selling 37,519 shares during the period. Manning & Napier Advisors LLC's holdings in FOX were worth $1,670,000 as of its most recent SEC filing.

Other institutional investors have also modified their holdings of the company. Dimensional Fund Advisors LP increased its holdings in FOX by 1.1% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company's stock worth $185,344,000 after purchasing an additional 39,959 shares during the last quarter. Northern Trust Corp grew its holdings in FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after acquiring an additional 511,554 shares in the last quarter. Norges Bank bought a new position in shares of FOX during the fourth quarter worth about $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC grew 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 worth $130,043,000 after purchasing an additional 219,016 shares in the last quarter. Finally, Amundi increased its holdings in FOX by 9.9% in the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock valued at $119,006,000 after buying an additional 219,380 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Trading Down 0.3%

Shares of FOX stock traded down $0.18 during trading on Tuesday, hitting $55.90. The stock had a trading volume of 2,475,594 shares, compared to its average volume of 3,564,953. Fox Corporation has a 1 year low of $33.82 and a 1 year high of $58.74. The stock has a 50 day simple moving average of $52.72 and a 200 day simple moving average of $52.05. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $25.13 billion, a PE ratio of 13.91, a P/E/G ratio of 1.17 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion during 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 company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the company earned $1.40 earnings per share. On average, research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently weighed in on the company. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Wolfe Research downgraded shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price objective for the company. in a research report on Monday, April 7th. Cowen reissued a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and set a $60.00 target price on shares of FOX in a report on Tuesday, March 25th. Finally, Loop Capital raised their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company. According to data from MarketBeat.com, FOX presently has an average rating of "Hold" and a consensus target price of $52.71.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer now directly owns 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.77% of the stock is currently owned by corporate insiders.

FOX 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.