Allstate Corp Has $880,000 Position in Fox Corporation $FOX

Allstate Corp boosted its holdings in Fox Corporation (NASDAQ:FOX) by 243.6% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 13,553 shares of the company’s stock after purchasing an additional 9,609 shares during the quarter. Allstate Corp’s holdings in FOX were worth $880,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the business. Marshall Wace LLP boosted its holdings in FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock worth $182,448,000 after acquiring an additional 2,827,768 shares during the last quarter. Andra AP fonden grew its stake in shares of FOX by 2.7% in the 3rd quarter. Andra AP fonden now owns 1,110,900 shares of the company’s stock worth $63,643,000 after acquiring an additional 29,200 shares in the last quarter. Gabelli Funds LLC grew its stake in shares of FOX by 5.2% in the 4th quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock worth $36,789,000 after acquiring an additional 28,200 shares in the last quarter. SG Americas Securities LLC grew its stake in shares of FOX by 2,459.6% in the 4th quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock worth $26,818,000 after acquiring an additional 396,900 shares in the last quarter. Finally, Sumitomo Mitsui Trust Group Inc. grew its stake in shares of FOX by 2.7% in the 4th quarter. Sumitomo Mitsui Trust Group Inc. now owns 369,923 shares of the company’s stock worth $24,019,000 after acquiring an additional 9,808 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

Insider Transactions at FOX

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction dated Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the sale, the chief executive officer directly owned 152 shares in the company, valued at approximately $8,846.40. The trade was a 99.98% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. Also, COO John Nallen sold 216,806 shares of the business’s stock in a transaction dated Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares in the company, valued at $20,892,042.08. This represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 1,586,871 shares of company stock worth $91,893,926 over the last 90 days. 23.06% of the stock is currently owned by company insiders.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox News highlighted a box office surprise in which the low-budget horror film “Obsession” outperformed expectations, underscoring the broad entertainment coverage and audience reach of Fox’s media properties. Article Title
• Neutral Sentiment: Multiple Fox News videos and reports on Iran, Israel, ICE protests, and U.S. politics may help drive traffic and engagement, but they do not directly change Fox Corporation’s earnings outlook. Article Title
• Neutral Sentiment: OutKick and Fox entertainment coverage, including a teaser for Steven Spielberg’s UFO movie “Disclosure Day” and celebrity/political commentary, may support audience engagement but appears unlikely to materially affect near-term fundamentals. Article Title
• Negative Sentiment: No major company-specific earnings, guidance, or advertising updates were reported, which may leave the stock more driven by broader market sentiment than by fresh fundamentals.

Wall Street Analyst Weigh In

Several analysts have recently issued reports on the stock. Wells Fargo & Company lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Thursday, February 5th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, May 12th. Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a research report on Friday, May 22nd. Finally, Bank of America reissued an “underperform” rating and issued a $45.00 price objective (down from $80.00) on shares of FOX in a research report on Wednesday, February 25th. One equities research analyst has rated the stock with a Strong Buy rating, four have given a Buy rating, one has assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FOX has a consensus rating of “Moderate Buy” and a consensus price target of $75.00.

FOX Price Performance

Shares of NASDAQ:FOX opened at $57.39 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 company has a market capitalization of $24.11 billion, a P/E ratio of 15.14, a price-to-earnings-growth ratio of 6.77 and a beta of 0.54. Fox Corporation has a fifty-two week low of $48.42 and a fifty-two week high of $68.18. The company’s 50-day moving average is $56.17 and its 200 day moving average is $58.51.

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 the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The company had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. On average, equities research analysts forecast that Fox Corporation will post 4.76 earnings per share for the current year.

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.