Ruffer LLP Has $14.96 Million Position in Fox Corporation (NASDAQ:FOXA)

Key Points

• Ruffer LLP increased its stake in Fox Corporation by 7.3%, owning 264,235 shares worth approximately $14.96 million as of the latest SEC filing.
• Fox Corporation reported earnings of $1.10 EPS, surpassing analysts' expectations of $0.93, with revenue rising 26.8% year-over-year to $4.37 billion.
• Multiple analysts have rated Fox Corporation as a "hold," with an average price target of $53.53, and one analyst has given it a sell rating.

Ruffer LLP raised its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 7.3% during the first quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 264,235 shares of the company's stock after purchasing an additional 18,060 shares during the period. Ruffer LLP owned about 0.06% of FOX worth $14,956,000 as of its most recent SEC filing.

Several other institutional investors have also recently added to or reduced their stakes in the stock. LPL Financial LLC boosted its stake in FOX by 133.8% during the 4th quarter. LPL Financial LLC now owns 43,791 shares of the company's stock valued at $2,127,000 after purchasing an additional 25,060 shares during the period. CIBC Private Wealth Group LLC boosted its position in FOX by 122.3% during the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after acquiring an additional 368 shares during the period. Franklin Resources Inc. grew its stake in shares of FOX by 164.8% in the fourth quarter. Franklin Resources Inc. now owns 469,547 shares of the company's stock worth $22,811,000 after purchasing an additional 292,205 shares in the last quarter. National Bank of Canada FI increased its holdings in shares of FOX by 19.6% during the fourth quarter. National Bank of Canada FI now owns 59,716 shares of the company's stock valued at $2,901,000 after purchasing an additional 9,804 shares during the period. Finally, Prudential PLC lifted its holdings in FOX by 27.0% in the fourth quarter. Prudential PLC now owns 56,146 shares of the company's stock worth $2,728,000 after purchasing an additional 11,952 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Down 3.7%

NASDAQ:FOXA traded down $2.09 on Tuesday, hitting $54.89. 9,565,821 shares of the company's stock traded hands, compared to its average volume of 2,974,000. The company has a market cap of $24.68 billion, a PE ratio of 13.65, a price-to-earnings-growth ratio of 1.27 and a beta of 0.54. Fox Corporation has a 1 year low of $36.85 and a 1 year high of $58.74. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. The firm has a 50-day moving average price of $55.48 and a 200-day moving average price of $53.60.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating the consensus estimate of $1.01 by $0.26. The firm had revenue of $3.29 billion for the quarter, compared to analyst estimates of $3.12 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The company's revenue for the quarter was up 6.3% compared to the same quarter last year. During the same quarter in the prior year, the business earned $0.90 EPS. Equities analysts anticipate that Fox Corporation will post 4.38 EPS for the current fiscal year.

Analyst Upgrades and Downgrades

FOXA has been the topic of a number of recent analyst reports. Barclays restated an "outperform" rating on shares of FOX in a research report on Tuesday, May 13th. Bank of America upped their target price on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research report on Wednesday, June 25th. UBS Group set a $65.00 price target on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Guggenheim restated a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Cowen reaffirmed 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 assigned a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling

In other 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 completion of the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,405,941.90. This trade represents a 22.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is owned by company insiders.

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.