BI Asset Management Fondsmaeglerselskab A S Sells 182,165 Shares of Fox Corporation $FOXA

BI Asset Management Fondsmaeglerselskab A S cut its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 48.2% during the first quarter, Holdings Channel.com reports. The fund owned 195,566 shares of the company’s stock after selling 182,165 shares during the period. BI Asset Management Fondsmaeglerselskab A S’s holdings in FOX were worth $11,421,000 at the end of the most recent reporting period.

A number of other hedge funds have also recently made changes to their positions in FOXA. DGS Capital Management LLC purchased a new stake in shares of FOX during the fourth quarter worth about $266,000. State of Tennessee Department of Treasury lifted its holdings in shares of FOX by 46.2% in the fourth quarter. State of Tennessee Department of Treasury now owns 107,661 shares of the company’s stock worth $7,836,000 after buying an additional 33,997 shares in the last quarter. Auxier Asset Management LLC bought a new position in shares of FOX during the fourth quarter worth $222,000. California State Teachers Retirement System boosted its position in shares of FOX by 11.5% during the fourth quarter. California State Teachers Retirement System now owns 417,901 shares of the company’s stock worth $30,536,000 after acquiring an additional 43,232 shares during the last quarter. Finally, Captrust Financial Advisors grew its stake in FOX by 6.6% during the fourth quarter. Captrust Financial Advisors now owns 7,063 shares of the company’s stock valued at $516,000 after acquiring an additional 435 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $52.23 on Monday. The company’s fifty day moving average is $63.52 and its 200 day moving average is $64.74. Fox Corporation has a fifty-two week low of $50.68 and a fifty-two week high of $76.39. The stock has a market capitalization of $21.95 billion, a PE ratio of 13.78, a P/E/G ratio of 1.86 and a beta of 0.51. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the firm earned $1.10 earnings per share. FOX’s revenue was down 8.6% on a year-over-year basis. Sell-side analysts expect that Fox Corporation will post 4.93 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have issued reports on FOXA shares. UBS Group reiterated a “neutral” rating on shares of FOX in a report on Monday, June 15th. Barclays dropped their price objective on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a report on Monday, June 15th. JPMorgan Chase & Co. raised their price objective on FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a research report on Tuesday, May 12th. Bank of America cut FOX from a “buy” rating to an “underperform” rating and set a $45.00 target price on the stock. in a report on Wednesday, February 25th. Finally, Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have issued a Hold rating and one has assigned a Sell rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $74.36.

FOX Company Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.