Andra AP fonden Trims Stock Position in Fox Corporation $FOX

Andra AP fonden lessened its stake in shares of Fox Corporation (NASDAQ:FOX) by 32.2% in the 4th quarter, Holdings Channel reports. The institutional investor owned 753,700 shares of the company’s stock after selling 357,200 shares during the quarter. FOX makes up about 0.6% of Andra AP fonden’s investment portfolio, making the stock its 28th biggest position. Andra AP fonden’s holdings in FOX were worth $48,938,000 as of its most recent SEC filing.

Several other institutional investors have also modified their holdings of FOX. Brown Brothers Harriman & Co. lifted its position in shares of FOX by 336.9% during the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock worth $35,000 after buying an additional 475 shares during the last quarter. Geneos Wealth Management Inc. increased its holdings in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares during the period. FNY Investment Advisers LLC acquired a new position in shares of FOX in the 4th quarter valued at $83,000. EverSource Wealth Advisors LLC increased its holdings in shares of FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after acquiring an additional 1,301 shares during the period. Finally, Covestor Ltd increased its holdings in shares of FOX by 139.1% in the 4th quarter. Covestor Ltd now owns 2,955 shares of the company’s stock valued at $192,000 after acquiring an additional 1,719 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

FOX has been the topic of a number of recent research reports. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, May 12th. Weiss Ratings reaffirmed a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Finally, Bank of America reaffirmed an “underperform” rating and issued a $45.00 target price (down from $80.00) on shares of FOX in a report on Wednesday, February 25th. One investment analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, one has given a Hold rating and one has assigned a Sell rating to the company. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and a consensus price target of $75.00.

FOX Stock Performance

Shares of FOX opened at $61.36 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The stock has a market capitalization of $25.78 billion, a P/E ratio of 16.19, a P/E/G ratio of 7.20 and a beta of 0.54. The company’s fifty day moving average is $57.46 and its two-hundred day moving average is $58.56. Fox Corporation has a 1 year low of $48.42 and a 1 year high of $68.18.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion for the quarter, compared to analysts’ expectations of $3.78 billion. On average, sell-side analysts predict that Fox Corporation will post 4.76 earnings per share for the current year.

Key Headlines Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox Corporation’s board extended the CEO and CFO contracts and increased compensation, reinforcing leadership stability and suggesting management confidence in the company’s strategy. Fox Extends CEO and CFO Contracts, Boosts Compensation
• Positive Sentiment: A Reuters report said a Justice Department NFL antitrust probe may be helping Fox by potentially improving its position in future broadcast-rights negotiations. Democrat says Trump NFL probe aimed at helping Fox getting better deal
• Neutral Sentiment: Fox’s news coverage remained focused on major political and geopolitical stories, including Iran developments and U.S. elections, which may support audience traffic but do not directly change the company’s financial outlook.

FOX Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.