Fox Co. (NASDAQ:FOXA) Shares Sold by Assenagon Asset Management S.A.

Assenagon Asset Management S.A. reduced its position in shares of Fox Co. (NASDAQ:FOXA) by 18.4% in the 1st quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 49,614 shares of the company’s stock after selling 11,160 shares during the period. Assenagon Asset Management S.A.’s holdings in FOX were worth $2,808,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Norges Bank purchased a new stake in shares of FOX during the fourth quarter worth $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in FOX in the 4th quarter valued at about $67,471,000. FMR LLC boosted its stake in shares of FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company’s stock valued at $91,570,000 after buying an additional 1,330,908 shares during the period. Allianz Asset Management GmbH boosted its stake in shares of FOX by 3,077.5% in the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock valued at $43,016,000 after buying an additional 857,609 shares during the period. Finally, Victory Capital Management Inc. grew its position in shares of FOX by 338.7% during the fourth quarter. Victory Capital Management Inc. now owns 857,929 shares of the company’s stock worth $41,678,000 after buying an additional 662,367 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

FOXA stock opened at $55.32 on Tuesday. The firm has a 50 day moving average of $52.24 and a 200-day moving average of $51.76. The company has a market cap of $24.87 billion, a price-to-earnings ratio of 11.85, a PEG ratio of 1.27 and a beta of 0.51. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $32.76 and a 12-month high of $58.74.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same period last year, the firm posted $1.40 EPS. The firm’s revenue for the quarter was up 26.8% on a year-over-year basis. As a group, equities analysts expect that Fox Co. will post 4.38 EPS for the current fiscal year.

Analysts Set New Price Targets

A number of equities analysts recently issued reports on the company. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. Wolfe Research cut shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Wells Fargo & Company lifted their price target on shares of FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Loop Capital upped their price objective on shares of FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research note on Tuesday, May 13th. Finally, Morgan Stanley raised their price objective on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus target price of $52.71.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 39,642 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the transaction, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. 21.77% of the stock is owned by company insiders.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.