Ritholtz Wealth Management increased its stake in shares of Fox Co. (NASDAQ:FOXA – Free Report) by 153.0% during the first quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 25,568 shares of the company’s stock after buying an additional 15,464 shares during the quarter. Ritholtz Wealth Management’s holdings in FOX were worth $1,447,000 as of its most recent SEC filing.
Other large investors have also recently made changes to their positions in the company. WealthTrak Capital Management LLC purchased a new stake in shares of FOX during the fourth quarter valued at $26,000. SRS Capital Advisors Inc. boosted its holdings in FOX by 91.0% in the fourth quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares during the last quarter. Jones Financial Companies Lllp boosted its holdings in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the last quarter. CIBC Private Wealth Group LLC boosted its holdings in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after purchasing an additional 368 shares during the last quarter. Finally, MV Capital Management Inc. boosted its holdings in FOX by 929.9% in the first quarter. MV Capital Management Inc. now owns 690 shares of the company’s stock valued at $39,000 after purchasing an additional 623 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.
Wall Street Analyst Weigh In
Several equities research analysts have commented on the stock. Barclays reaffirmed an “outperform” rating on shares of FOX in a report on Tuesday, May 13th. Cfra Research raised shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Monday, April 7th. Morgan Stanley lifted their target price on shares of FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. Wolfe Research lowered shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Finally, UBS Group increased their target price on shares of FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Two investment 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. Based on data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $52.71.
FOX Trading Up 3.0%
Shares of FOX stock opened at $55.32 on Tuesday. The firm has a market capitalization of $24.87 billion, a PE ratio of 11.85, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a twelve month low of $32.76 and a twelve month high of $58.74. The firm’s 50-day moving average price is $52.24 and its 200 day moving average price is $51.76. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The company had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. FOX’s quarterly revenue was up 26.8% on a year-over-year basis. During the same quarter in the prior year, the firm earned $1.40 EPS. On average, sell-side analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.
Insider Buying and Selling at FOX
In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. 21.77% of the stock is owned by 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.
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