Fort Washington Investment Advisors Inc. OH Decreases Stock Position in Fox Corporation $FOXA

Fort Washington Investment Advisors Inc. OH cut its holdings in Fox Corporation (NASDAQ:FOXA) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 363,849 shares of the company’s stock after selling 39,920 shares during the quarter. Fort Washington Investment Advisors Inc. OH owned 0.09% of FOX worth $21,249,000 at the end of the most recent quarter.

Several other institutional investors have also added to or reduced their stakes in the business. SG Americas Securities LLC raised its stake in shares of FOX by 346.6% in the fourth quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock worth $9,355,000 after purchasing an additional 99,363 shares during the last quarter. Handelsbanken Fonder AB boosted its position in shares of FOX by 85.3% during the fourth quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock valued at $6,431,000 after buying an additional 40,515 shares during the last quarter. Geode Capital Management LLC boosted its position in shares of FOX by 0.5% during the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after buying an additional 29,923 shares during the last quarter. Strs Ohio boosted its position in shares of FOX by 7.6% during the fourth quarter. Strs Ohio now owns 332,444 shares of the company’s stock valued at $24,292,000 after buying an additional 23,475 shares during the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. increased its holdings in FOX by 3.0% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 572,145 shares of the company’s stock worth $41,807,000 after buying an additional 16,716 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of recent analyst reports. JPMorgan Chase & Co. boosted their target price on FOX from $69.00 to $70.00 and gave the stock a “neutral” rating in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. UBS Group reissued a “neutral” rating on shares of FOX in a report on Monday, June 15th. Wells Fargo & Company boosted their price objective on shares of FOX from $67.00 to $71.00 and gave the company an “equal weight” rating in a report on Tuesday, May 12th. Finally, Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $79.00 target price on shares of FOX in a research report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, six have assigned a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $74.36.

FOX Stock Performance

Shares of NASDAQ:FOXA opened at $50.10 on Monday. The stock’s 50-day simple moving average is $62.19 and its two-hundred day simple moving average is $64.10. The stock has a market capitalization of $21.05 billion, a price-to-earnings ratio of 13.22, a PEG ratio of 1.66 and a beta of 0.51. Fox Corporation has a 52-week low of $48.34 and a 52-week high of $76.39. 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 EPS for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter in the prior year, the firm earned $1.10 EPS. The business’s revenue for the quarter was down 8.6% compared to the same quarter last year. Analysts expect that Fox Corporation will post 4.93 EPS for the current year.

About FOX

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.