44,313 Shares in Fox Corporation (NASDAQ:FOXA) Purchased by Sowell Financial Services LLC

Sowell Financial Services LLC bought a new stake 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 bought 44,313 shares of the company's stock, valued at approximately $2,508,000.

Several other hedge funds also recently added to or reduced their stakes in FOXA. Savant Capital LLC raised its stake in shares of FOX by 20.1% during the fourth quarter. Savant Capital LLC now owns 7,909 shares of the company's stock valued at $384,000 after acquiring an additional 1,322 shares in the last quarter. Van ECK Associates Corp bought a new position in shares of FOX during the fourth quarter valued at approximately $89,000. Asset Management One Co. Ltd. lifted its holdings in FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company's stock worth $5,856,000 after buying an additional 23,704 shares during the period. Principal Securities Inc. raised its position in shares of FOX by 12.6% in the 4th quarter. Principal Securities Inc. now owns 10,221 shares of the company's stock worth $497,000 after acquiring an additional 1,140 shares in the last quarter. Finally, CIBC Asset Management Inc raised its holdings in FOX by 3.0% in the fourth quarter. CIBC Asset Management Inc now owns 36,357 shares of the company's stock worth $1,766,000 after purchasing an additional 1,056 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Performance

Shares of NASDAQ:FOXA traded up $0.54 during trading on Friday, hitting $55.25. 10,457,666 shares of the stock traded hands, compared to its average volume of 3,577,619. The company has a fifty day moving average price of $52.46 and a two-hundred day moving average price of $51.85. Fox Corporation has a 52-week low of $33.50 and a 52-week high of $58.74. The company has a market cap of $24.84 billion, a price-to-earnings ratio of 13.74, a P/E/G ratio of 1.16 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.

FOX (NASDAQ:FOXA - Get Free Report) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion for the quarter, compared to analysts' expectations of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company's quarterly revenue was up 26.8% on a year-over-year basis. During the same period last year, the firm earned $1.40 EPS. As a group, equities analysts predict that Fox Corporation will post 4.38 EPS for the current year.

Wall Street Analysts Forecast Growth

Several equities research analysts have weighed in on the stock. UBS Group raised their target price on shares of FOX from $61.00 to $63.00 and gave the company a "buy" rating in a research note on Tuesday, May 13th. Cowen reissued a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Barclays reiterated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Loop Capital upped their price objective on shares of FOX from $62.00 to $64.00 and gave the company a "buy" rating in a report on Tuesday, May 13th. Finally, Morgan Stanley increased their price objective on shares of FOX from $57.00 to $60.00 and gave the company an "equal weight" rating in a research report on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the stock has an average rating of "Hold" and an average target price of $52.71.

Insider Activity

In other news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction that occurred on 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 transaction, the chief financial officer now owns 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Company insiders own 21.77% of the company's stock.

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.