DnB Asset Management AS trimmed its position in Fox Co. (NASDAQ:FOXA – Free Report) by 8.9% during the 1st quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 83,003 shares of the company’s stock after selling 8,107 shares during the quarter. DnB Asset Management AS’s holdings in FOX were worth $2,826,000 as of its most recent filing with the Securities & Exchange Commission.
Other hedge funds also recently made changes to their positions in the company. Daiwa Securities Group Inc. increased its stake in shares of FOX by 3.9% in the fourth quarter. Daiwa Securities Group Inc. now owns 28,090 shares of the company’s stock worth $853,000 after buying an additional 1,054 shares during the period. Keybank National Association OH increased its stake in shares of FOX by 6.2% in the fourth quarter. Keybank National Association OH now owns 17,360 shares of the company’s stock worth $527,000 after buying an additional 1,019 shares during the period. Daymark Wealth Partners LLC bought a new stake in FOX in the fourth quarter valued at $615,000. Great Lakes Advisors LLC bought a new stake in FOX in the fourth quarter valued at $502,000. Finally, Dimensional Fund Advisors LP boosted its holdings in FOX by 0.6% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,743,552 shares of the company’s stock valued at $113,698,000 after acquiring an additional 22,579 shares in the last quarter. 57.81% of the stock is owned by hedge funds and other institutional investors.
Analyst Upgrades and Downgrades
Several research firms recently weighed in on FOXA. Morgan Stanley cut their price target on shares of FOX from $39.00 to $37.00 in a report on Thursday, May 4th. StockNews.com began coverage on shares of FOX in a report on Thursday, May 18th. They issued a “hold” rating on the stock. Bank of America cut shares of FOX from a “buy” rating to a “neutral” rating and dropped their target price for the company from $42.00 to $34.00 in a report on Tuesday, March 28th. Wells Fargo & Company cut shares of FOX from an “overweight” rating to an “equal weight” rating and dropped their target price for the company from $44.00 to $35.00 in a report on Friday, May 12th. Finally, Rosenblatt Securities dropped their target price on shares of FOX from $35.00 to $33.00 and set a “neutral” rating on the stock in a report on Wednesday, April 19th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and five have issued a buy rating to the company’s stock. According to data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $36.89.
FOX Price Performance
FOX (NASDAQ:FOXA – Free Report) last released its quarterly earnings results on Tuesday, May 9th. The company reported $0.94 EPS for the quarter, beating the consensus estimate of $0.88 by $0.06. FOX had a net margin of 7.84% and a return on equity of 16.36%. The firm had revenue of $4.08 billion during the quarter, compared to analyst estimates of $4.03 billion. During the same quarter in the prior year, the firm earned $0.81 EPS. The business’s revenue for the quarter was up 18.2% compared to the same quarter last year. On average, analysts expect that Fox Co. will post 3.36 earnings per share for the current year.
Insider Activity
In other news, insider Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Friday, June 16th. The shares were sold at an average price of $33.62, for a total transaction of $3,362,000.00. Following the completion of the sale, the insider now owns 157,513 shares of the company’s stock, valued at approximately $5,295,587.06. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Insiders own 19.86% of the company’s stock.
FOX Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.
Read More
- Five stocks we like better than FOX
- Order From U.S. Army Fuels Surge In Enovix Stock
- The Bottom Is In For Mullen Automotive
- Could Meta Be Risking Another Sell Off With Its New “Threads”?
- 2 Must-Have Specialized ETFs for the Long-Term Investor
- Inspire Medical Up 15% After Breakout, Analysts Say It’s A Buy
Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.
