SG Americas Securities LLC Has $29.89 Million Position in Fox Corporation $FOXA

SG Americas Securities LLC lifted its position in shares of Fox Corporation (NASDAQ:FOXA) by 299.8% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 511,811 shares of the company’s stock after purchasing an additional 383,782 shares during the period. SG Americas Securities LLC owned 0.12% of FOX worth $29,890,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FOXA. Geneos Wealth Management Inc. raised its stake in FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after buying an additional 621 shares during the period. EverSource Wealth Advisors LLC boosted its stake in shares of FOX by 286.4% during the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock worth $77,000 after acquiring an additional 1,014 shares during the period. Baird Financial Group Inc. boosted its stake in shares of FOX by 19.7% during the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock worth $981,000 after acquiring an additional 2,876 shares during the period. California State Teachers Retirement System increased its holdings in shares of FOX by 16.6% during the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after acquiring an additional 49,963 shares during the last quarter. Finally, Ameriprise Financial Inc. increased its holdings in shares of FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after acquiring an additional 762,645 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Stock Performance

FOXA opened at $48.79 on Wednesday. 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 Corporation has a 52-week low of $48.55 and a 52-week high of $76.39. The firm has a market cap of $20.50 billion, a P/E ratio of 12.87, a price-to-earnings-growth ratio of 1.76 and a beta of 0.51. The business’s fifty day moving average is $63.01 and its 200-day moving average is $64.49.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The business had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the previous year, the firm earned $1.10 earnings per share. FOX’s revenue for the quarter was down 8.6% compared to the same quarter last year. Sell-side analysts expect that Fox Corporation will post 4.93 EPS for the current fiscal year.

Wall Street Analysts Forecast Growth

Several brokerages have issued reports on FOXA. Evercore set a $73.00 price target on FOX in a report on Tuesday, May 12th. JPMorgan Chase & Co. upped their price objective on shares of FOX from $69.00 to $70.00 and gave the company a “neutral” rating in a report on Tuesday, May 12th. Barclays cut their target price on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating for the company in a research note on Monday, June 15th. UBS Group reaffirmed a “neutral” rating on shares of FOX in a report on Monday, June 15th. Finally, Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One analyst has rated the stock with a Strong Buy rating, six have given a Buy rating, nine have assigned a Hold rating and one has assigned a Sell rating to the stock. Based on data from MarketBeat, FOX has a consensus 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.