Skandinaviska Enskilda Banken AB publ Lowers Stock Position in Fox Corporation (NASDAQ:FOXA)

Skandinaviska Enskilda Banken AB publ decreased its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 50.7% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 18,215 shares of the company's stock after selling 18,700 shares during the quarter. Skandinaviska Enskilda Banken AB publ's holdings in FOX were worth $1,031,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. Greenleaf Trust lifted its holdings in FOX by 3.1% in the first quarter. Greenleaf Trust now owns 6,778 shares of the company's stock valued at $384,000 after acquiring an additional 205 shares during the period. DnB Asset Management AS increased its holdings in shares of FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company's stock valued at $2,141,000 after acquiring an additional 245 shares during the period. Allworth Financial LP raised its stake in FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company's stock worth $45,000 after acquiring an additional 280 shares during the last quarter. Linden Thomas Advisory Services LLC grew its position in FOX by 0.6% during the first quarter. Linden Thomas Advisory Services LLC now owns 49,869 shares of the company's stock valued at $2,823,000 after buying an additional 293 shares during the period. Finally, State of Alaska Department of Revenue grew its position in shares of FOX by 1.2% in the first quarter. State of Alaska Department of Revenue now owns 25,521 shares of the company's stock valued at $1,444,000 after purchasing an additional 305 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several recent analyst reports. Loop Capital boosted their target price on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Morgan Stanley increased their price target on shares of FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a research report on Tuesday, May 13th. Bank of America lifted their price target on FOX from $60.00 to $65.00 and gave the company a "buy" rating in a report on Wednesday, June 25th. Wolfe Research upgraded shares of FOX from an "underperform" rating to a "peer perform" rating in a research report on Wednesday, July 9th. Finally, Guggenheim reiterated a "buy" rating and set a $62.00 price objective (up from $60.00) on shares of FOX in a research report on Wednesday, June 25th. One analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus price target of $53.53.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale 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.

FOX Price Performance

Shares of FOX stock traded down $0.46 during midday trading on Wednesday, hitting $55.46. 3,218,952 shares of the company traded hands, compared to its average volume of 2,655,842. The stock has a market cap of $24.94 billion, a price-to-earnings ratio of 13.80, a PEG ratio of 1.25 and a beta of 0.51. Fox Corporation has a 12 month low of $36.09 and a 12 month high of $58.74. 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 firm's fifty day moving average price is $55.41 and its 200-day moving average price is $53.35.

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

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.