Moran Wealth Management LLC Makes New Investment in Fox Corporation (NASDAQ:FOXA)

Moran Wealth Management LLC acquired a new position in Fox Corporation (NASDAQ:FOXA - Free Report) during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor acquired 138,465 shares of the company's stock, valued at approximately $7,837,000.

Several other hedge funds and other institutional investors also recently bought and sold shares of the company. Dimensional Fund Advisors LP grew its stake in FOX by 1.1% in the fourth 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 in the last quarter. Northern Trust Corp lifted its holdings in FOX by 17.1% during the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock worth $170,111,000 after buying an additional 511,554 shares during the period. Norges Bank purchased a new stake in FOX during the fourth quarter worth $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in FOX by 8.9% during 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 buying an additional 219,016 shares during the period. Finally, Amundi lifted its holdings in FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company's stock worth $119,006,000 after buying an additional 219,380 shares during the period. Institutional investors own 52.52% of the company's stock.

FOX Stock Performance

Shares of NASDAQ FOXA traded up $0.11 during mid-day trading on Friday, hitting $56.79. The stock had a trading volume of 3,737,562 shares, compared to its average volume of 3,578,044. 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 company has a 50 day moving average of $53.34 and a two-hundred day moving average of $52.29. Fox Corporation has a twelve month low of $33.84 and a twelve month high of $58.74. The firm has a market cap of $25.53 billion, a PE ratio of 14.13, a PEG ratio of 1.20 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 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 for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the firm earned $1.40 EPS. The firm's revenue was up 26.8% on a year-over-year basis. Research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of analysts have weighed in on the company. Bank of America upped their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday. Cfra Research upgraded FOX from a "hold" rating to a "moderate buy" rating in a report on Monday, April 7th. Loop Capital upped their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Cowen restated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Finally, Barclays restated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat.com, the stock presently has a consensus rating of "Hold" and a consensus 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.