Fox Corporation (NASDAQ:FOXA) Shares Sold by Pacer Advisors Inc.

Key Points

• Pacer Advisors Inc. significantly reduced its holdings in Fox Corporation by 99.8% during the first quarter, owning 14,189 shares valued at $803,000 after selling over 8 million shares.
• Fox Corporation reported a solid financial performance, with $1.10 earnings per share for the most recent quarter, surpassing estimates, and a revenue increase of 26.8% year-over-year.
• Analysts have mixed ratings on Fox Corporation, with price targets ranging from $53.53 to $64.00, reflecting a consensus rating of "Hold."

Pacer Advisors Inc. lowered its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 99.8% during the first quarter, according to its most recent filing with the SEC. The institutional investor owned 14,189 shares of the company's stock after selling 8,326,573 shares during the period. Pacer Advisors Inc.'s holdings in FOX were worth $803,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Dimensional Fund Advisors LP raised its holdings in shares of 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 acquiring an additional 39,959 shares during the period. Northern Trust Corp raised its holdings in shares of 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 during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC raised its holdings in shares of FOX by 8.9% during the 4th 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 acquiring an additional 219,016 shares during the period. AustralianSuper Pty Ltd raised its holdings in shares of FOX by 8.8% during the 1st quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company's stock worth $149,218,000 after acquiring an additional 212,348 shares during the period. Finally, KBC Group NV raised its holdings in shares of FOX by 1.3% during the 1st quarter. KBC Group NV now owns 2,397,604 shares of the company's stock worth $135,704,000 after acquiring an additional 29,906 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 39,642 shares of the business'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 completion of the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through the SEC website. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several analyst reports. UBS Group set a $65.00 price target on FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. Loop Capital lifted 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. Wells Fargo & Company boosted 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. Guggenheim restated a "buy" rating and issued a $62.00 price objective (up from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Cowen restated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, FOX currently has a consensus rating of "Hold" and a consensus target price of $53.53.

FOX Trading Down 0.4%

NASDAQ FOXA traded down $0.22 during trading on Friday, hitting $55.54. The stock had a trading volume of 3,918,713 shares, compared to its average volume of 3,935,153. The company has a market capitalization of $24.97 billion, a PE ratio of 13.82, a PEG ratio of 1.24 and a beta of 0.51. 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 firm has a 50 day moving average price of $55.43 and a 200 day moving average price of $53.42. Fox Corporation has a twelve month low of $36.09 and a twelve month high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating 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%. FOX's revenue was up 26.8% compared to the same quarter last year. During the same period in the previous year, the company posted $1.40 EPS. As a group, equities research analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

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.