Principal Financial Group Inc. Boosts Holdings in Fox Corporation (NASDAQ:FOXA)

Principal Financial Group Inc. raised its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 11.4% in the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 317,718 shares of the company's stock after buying an additional 32,476 shares during the quarter. Principal Financial Group Inc. owned approximately 0.07% of FOX worth $17,983,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Teacher Retirement System of Texas grew its holdings in shares of FOX by 68.5% during the 1st quarter. Teacher Retirement System of Texas now owns 436,842 shares of the company's stock worth $24,725,000 after purchasing an additional 177,566 shares during the period. Private Trust Co. NA lifted its position in FOX by 86.5% during the 1st quarter. Private Trust Co. NA now owns 929 shares of the company's stock worth $53,000 after acquiring an additional 431 shares in the last quarter. Aaron Wealth Advisors LLC lifted its position in FOX by 28.8% during the 1st quarter. Aaron Wealth Advisors LLC now owns 6,273 shares of the company's stock worth $355,000 after acquiring an additional 1,402 shares in the last quarter. Rossby Financial LCC acquired a new position in FOX during the 1st quarter worth approximately $522,000. Finally, Summit Trail Advisors LLC lifted its position in FOX by 199.8% during the 1st quarter. Summit Trail Advisors LLC now owns 30,806 shares of the company's stock worth $1,744,000 after acquiring an additional 20,531 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

FOXA has been the topic of several recent research reports. Morgan Stanley boosted their price target on FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $62.00 target price (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cowen reaffirmed a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. UBS Group set a $65.00 target price on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Finally, Barclays reaffirmed an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. One research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of "Hold" and a consensus target price of $53.53.

FOX Trading Up 2.8%

NASDAQ:FOXA opened at $56.73 on Friday. The company's 50 day moving average is $54.56 and its 200-day moving average is $52.71. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. Fox Corporation has a 12 month low of $35.43 and a 12 month high of $58.74. The firm has a market cap of $25.51 billion, a price-to-earnings ratio of 14.11, a P/E/G ratio of 1.23 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last announced 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. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the prior year, the company earned $1.40 EPS. The firm's revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts anticipate that Fox Corporation will post 4.38 EPS for the current year.

Insiders Place Their Bets

In other news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. 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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