Fox Corporation $FOXA Position Lifted by BI Asset Management Fondsmaeglerselskab A S

BI Asset Management Fondsmaeglerselskab A S grew its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 150.9% during the fourth quarter, Holdings Channel reports. The firm owned 377,731 shares of the company’s stock after acquiring an additional 227,209 shares during the quarter. BI Asset Management Fondsmaeglerselskab A S’s holdings in FOX were worth $27,601,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. PFA Pension Forsikringsaktieselskab acquired a new stake in shares of FOX in the 4th quarter worth about $67,467,000. Ameriprise Financial Inc. increased its holdings in shares of FOX by 72.0% in 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 period. Lazard Asset Management LLC increased its holdings in shares of FOX by 624.5% in the 2nd quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after acquiring an additional 242,321 shares during the period. SG Americas Securities LLC increased its stake in FOX by 346.6% during the 4th quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock valued at $9,355,000 after buying an additional 99,363 shares during the period. Finally, California State Teachers Retirement System increased its stake in FOX by 16.6% during the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock valued at $19,661,000 after buying an additional 49,963 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Trading Up 2.1%

NASDAQ:FOXA opened at $66.89 on Friday. Fox Corporation has a 12 month low of $52.96 and a 12 month high of $76.39. The firm has a market cap of $28.11 billion, a price-to-earnings ratio of 17.65, a P/E/G ratio of 3.40 and a beta of 0.51. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The company’s 50 day moving average is $63.30 and its 200-day moving average is $65.09.

FOX (NASDAQ:FOXA) last released 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 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 analyst estimates of $3.78 billion. During the same quarter last year, the firm posted $1.10 earnings per share. The company’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities analysts anticipate that Fox Corporation will post 4.93 EPS for the current year.

Insiders Place Their Bets

In other news, COO John Nallen sold 216,806 shares of the business’s stock in a transaction on 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 sale, the chief operating officer owned 362,206 shares in the company, valued at approximately $20,892,042.08. The trade was a 37.44% decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $58.20, for a total transaction of $37,117,166.40. Following the completion of the sale, the chief executive officer owned 152 shares in the company, valued at $8,846.40. This represents a 99.98% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Insiders have sold 1,586,871 shares of company stock worth $91,893,926 in the last quarter. Corporate insiders own 19.68% of the company’s stock.

Wall Street Analyst Weigh In

Several equities analysts have commented on FOXA shares. Evercore set a $73.00 target price on shares of FOX in a research note on Tuesday, May 12th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Wednesday, May 13th. Bank of America cut shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 target price for the company. in a report on Wednesday, February 25th. UBS Group set a $64.00 target price on shares of FOX in a report on Tuesday, February 24th. Finally, Barclays raised their target price on shares of FOX from $63.00 to $67.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, seven have given a Buy rating, eight have issued a Hold rating and one has issued a Sell rating to the stock. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $74.86.

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.