Fox Corporation (NASDAQ:FOXA) Position Cut by Vontobel Holding Ltd.

Vontobel Holding Ltd. reduced its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 26.1% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The firm owned 17,490 shares of the company's stock after selling 6,170 shares during the quarter. Vontobel Holding Ltd.'s holdings in FOX were worth $990,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in FOXA. Cypress Capital LLC increased its position in FOX by 7.4% during the 1st quarter. Cypress Capital LLC now owns 21,245 shares of the company's stock worth $1,202,000 after purchasing an additional 1,470 shares in the last quarter. Monument Capital Management purchased a new stake in FOX during the first quarter worth approximately $3,123,000. KBC Group NV increased its position in shares of FOX by 1.3% in the first quarter. KBC Group NV now owns 2,397,604 shares of the company's stock worth $135,704,000 after acquiring an additional 29,906 shares in the last quarter. 3Chopt Investment Partners LLC raised its stake in shares of FOX by 13.2% in the 1st quarter. 3Chopt Investment Partners LLC now owns 11,688 shares of the company's stock valued at $662,000 after acquiring an additional 1,365 shares during the period. Finally, Board of the Pension Protection Fund purchased a new position in shares of FOX in the 1st quarter valued at $481,000. Hedge funds and other institutional investors own 52.52% of the company's stock.

FOX Stock Performance

FOXA traded down $1.40 during trading hours on Monday, hitting $54.85. 3,074,538 shares of the stock were exchanged, compared to its average volume of 3,604,808. 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 12 month low of $34.35 and a 12 month high of $58.74. The stock has a 50-day simple moving average of $54.09 and a 200-day simple moving average of $52.59. The stock has a market cap of $24.66 billion, a price-to-earnings ratio of 13.64, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts' consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 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 26.8% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.40 EPS. Analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Activity

In related news, CFO Steven Tomsic sold 5,607 shares of the company's stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,415,316.51. This represents a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Company insiders own 21.77% of the company's stock.

Analysts Set New Price Targets

Several research analysts have commented on FOXA shares. UBS Group set a $65.00 price objective on FOX and gave the company a "buy" rating in a research report on Wednesday, June 25th. Loop Capital upped their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Guggenheim reaffirmed a "buy" rating and issued a $62.00 price objective (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cowen restated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Cfra Research downgraded shares of FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Two equities research analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the company's stock. According to data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $53.53.

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.