Fifth Third Bancorp Has $570,000 Stock Position in Fox Corporation (NASDAQ:FOXA)

Fifth Third Bancorp boosted its position in Fox Corporation (NASDAQ:FOXA) by 7.9% in the 1st quarter, according to its most recent filing with the SEC. The fund owned 10,077 shares of the company’s stock after purchasing an additional 734 shares during the period. Fifth Third Bancorp’s holdings in FOX were worth $570,000 as of its most recent filing with the SEC.

Several other hedge funds have also bought and sold shares of the company. DnB Asset Management AS lifted its position in FOX by 0.6% during the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock worth $2,141,000 after acquiring an additional 245 shares during the last quarter. Jones Financial Companies Lllp grew its position in shares of 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. SRS Capital Advisors Inc. grew its position in shares of 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. US Bancorp DE grew its position in shares of FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after purchasing an additional 281 shares during the last quarter. Finally, Metis Global Partners LLC grew its position in shares of FOX by 2.8% in the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after purchasing an additional 292 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

Several research firms have recently commented on FOXA. Guggenheim reaffirmed a “buy” rating and issued a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Barclays reaffirmed an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th. UBS Group upped their target price on FOX from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, Cowen reaffirmed 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 issued a buy rating to the company. Based on data from MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $52.71.

FOX Stock Down 2.2%

Shares of FOXA opened at $54.08 on Wednesday. Fox Corporation has a 52 week low of $33.50 and a 52 week high of $58.74. The stock has a market capitalization of $24.32 billion, a price-to-earnings ratio of 13.45, a PEG ratio of 1.17 and a beta of 0.51. 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 stock has a fifty day moving average of $52.30 and a 200-day moving average of $51.77.

FOX (NASDAQ:FOXA) last announced 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 business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. FOX’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the company earned $1.40 EPS. As a group, sell-side analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 39,642 shares of the firm’s stock in a transaction 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 completion of the transaction, the chief financial officer now directly owns 133,923 shares of the company’s stock, valued at $7,405,941.90. This trade represents a 22.84% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is owned by corporate 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.