Mn Services Vermogensbeheer B.V. Decreases Stake in Fox Corporation (NASDAQ:FOXA)

Mn Services Vermogensbeheer B.V. lowered its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 17.4% in the first quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 46,200 shares of the company's stock after selling 9,700 shares during the period. Mn Services Vermogensbeheer B.V.'s holdings in FOX were worth $2,615,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also made changes to their positions in the company. Optas LLC raised its stake in FOX by 29.2% in the 1st quarter. Optas LLC now owns 7,395 shares of the company's stock worth $419,000 after acquiring an additional 1,673 shares during the last quarter. Ritholtz Wealth Management grew its stake in FOX by 153.0% during the 1st quarter. Ritholtz Wealth Management now owns 25,568 shares of the company's stock valued at $1,447,000 after purchasing an additional 15,464 shares during the last quarter. Wealth Enhancement Advisory Services LLC increased its holdings in shares of FOX by 10.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 11,535 shares of the company's stock valued at $653,000 after purchasing an additional 1,067 shares during the period. Salem Investment Counselors Inc. raised its stake in shares of FOX by 240.4% in the first quarter. Salem Investment Counselors Inc. now owns 1,416 shares of the company's stock worth $80,000 after purchasing an additional 1,000 shares during the last quarter. Finally, Fort Washington Investment Advisors Inc. OH raised its stake in shares of FOX by 6.7% in the first quarter. Fort Washington Investment Advisors Inc. OH now owns 741,830 shares of the company's stock worth $41,988,000 after purchasing an additional 46,289 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling

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

FOX Price Performance

Shares of FOX stock traded up $0.54 on Friday, hitting $55.25. The company's stock had a trading volume of 10,874,099 shares, compared to its average volume of 3,578,286. The company has a market capitalization of $24.84 billion, a price-to-earnings ratio of 13.74, a price-to-earnings-growth ratio of 1.16 and a beta of 0.51. Fox Corporation has a 1 year low of $33.82 and a 1 year high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. The firm has a fifty day moving average price of $52.59 and a 200-day moving average price of $51.91.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating the consensus estimate of $0.93 by $0.17. The company 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%. FOX'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 earnings per share. As a group, sell-side analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of equities research analysts recently commented on the company. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Wells Fargo & Company upped their price objective on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. Morgan Stanley increased their price objective on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research note on Tuesday, May 13th. Guggenheim reissued a "buy" rating and set a $60.00 target price on shares of FOX in a report on Tuesday, March 25th. Finally, Wolfe Research downgraded shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 target price for the company. in a research report on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company. According to MarketBeat.com, the company currently has an average rating of "Hold" and an average target price of $52.71.

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.