Fox Corporation (NASDAQ:FOXA) Position Increased by Strategic Investment Advisors MI

Strategic Investment Advisors MI increased its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 743.1% during the 1st quarter, according to its most recent Form 13F filing with the SEC. The fund owned 46,178 shares of the company's stock after acquiring an additional 40,701 shares during the period. Strategic Investment Advisors MI's holdings in FOX were worth $2,614,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. Norges Bank acquired a new position in FOX during the fourth quarter valued at approximately $132,161,000. Jupiter Asset Management Ltd. acquired a new position in FOX during the fourth quarter valued at approximately $67,471,000. FMR LLC lifted its position in FOX by 240.2% during the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after buying an additional 1,330,908 shares in the last quarter. Victory Capital Management Inc. lifted its position in FOX by 338.7% during the fourth quarter. Victory Capital Management Inc. now owns 857,929 shares of the company's stock valued at $41,678,000 after buying an additional 662,367 shares in the last quarter. Finally, Northern Trust Corp lifted its position in FOX by 17.1% during the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 0.2%

FOXA traded up $0.11 during trading on Friday, hitting $56.79. The company had a trading volume of 3,737,562 shares, compared to its average volume of 3,578,044. The company has a market cap of $25.53 billion, a PE ratio of 14.13, a P/E/G ratio of 1.20 and a beta of 0.51. The business has a 50-day moving average of $53.34 and a 200-day moving average of $52.29. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. Fox Corporation has a 1-year low of $33.84 and a 1-year high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate 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 net margin of 11.58% and a return on equity of 17.99%. The firm's quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the prior year, the company posted $1.40 earnings per share. As a group, analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the company'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 now directly owns 133,923 shares of the company's stock, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

A number of research analysts have weighed in on FOXA shares. UBS Group set a $65.00 price target on shares of FOX and gave the company a "buy" rating in a research report on Wednesday. Wells Fargo & Company boosted their target price on shares of FOX from $58.00 to $62.00 and gave the stock an "overweight" rating in a research report on Tuesday, May 13th. Cfra Research raised shares of FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Guggenheim reissued a "buy" rating and set a $62.00 target price (up from $60.00) on shares of FOX in a research report on Wednesday. Finally, Cowen reissued a "hold" rating on shares of FOX in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the company's stock. According to data from MarketBeat.com, the stock has a consensus rating of "Hold" and an average target price of $53.53.

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.