Monument Capital Management Takes Position in Fox Corporation (NASDAQ:FOXA)

Monument Capital Management purchased a new stake in Fox Corporation (NASDAQ:FOXA - Free Report) in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm purchased 55,171 shares of the company's stock, valued at approximately $3,123,000.

Other hedge funds have also made changes to their positions in the company. CIBC Private Wealth Group LLC increased its position in shares of FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares in the last quarter. Janney Montgomery Scott LLC increased its position in shares of FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after buying an additional 19,181 shares in the last quarter. Proficio Capital Partners LLC purchased a new position in shares of FOX in the fourth quarter valued at $7,767,000. Captrust Financial Advisors purchased a new position in shares of FOX in the fourth quarter valued at $306,000. Finally, Man Group plc purchased a new position in shares of FOX in the fourth quarter valued at $3,239,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of recent research reports. Bank of America lifted their price objective on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Wells Fargo & Company lifted their price objective on FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. UBS Group set a $65.00 price objective on FOX and gave the stock a "buy" rating in a research report on Wednesday, June 25th. Loop Capital lifted their price objective on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Finally, Guggenheim reiterated a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Two investment 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 a consensus rating of "Hold" and an average target price of $53.53.

FOX Stock Up 0.2%

Shares of NASDAQ:FOXA opened at $56.79 on Monday. 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 Corporation has a 1 year low of $33.84 and a 1 year high of $58.74. The stock has a market capitalization of $25.53 billion, a P/E ratio of 14.13, a PEG ratio of 1.20 and a beta of 0.51. The stock has a 50-day simple moving average of $53.34 and a 200-day simple moving average of $52.32.

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

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their position. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Company insiders own 21.77% of the company's stock.

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.

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