Yousif Capital Management LLC Cuts Stake in Fox Co. (NASDAQ:FOXA)

Yousif Capital Management LLC decreased its holdings in Fox Co. (NASDAQ:FOXA) by 5.0% in the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 30,496 shares of the company’s stock after selling 1,621 shares during the period. Yousif Capital Management LLC’s holdings in FOX were worth $1,726,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in FOXA. Savant Capital LLC boosted its stake in shares of FOX by 20.1% in the 4th quarter. Savant Capital LLC now owns 7,909 shares of the company’s stock valued at $384,000 after purchasing an additional 1,322 shares in the last quarter. Van ECK Associates Corp purchased a new stake in FOX during the 4th quarter valued at $89,000. Asset Management One Co. Ltd. boosted its position in FOX by 25.0% during the 4th quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after buying an additional 23,704 shares during the period. Principal Securities Inc. boosted its position in FOX by 12.6% during the 4th quarter. Principal Securities Inc. now owns 10,221 shares of the company’s stock valued at $497,000 after buying an additional 1,140 shares during the period. Finally, CIBC Asset Management Inc boosted its position in FOX by 3.0% during the 4th quarter. CIBC Asset Management Inc now owns 36,357 shares of the company’s stock valued at $1,766,000 after buying an additional 1,056 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on the stock. Loop Capital increased their price target on shares of FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Cowen reissued a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. UBS Group increased their price target on shares of FOX from $61.00 to $63.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, Wells Fargo & Company increased their price target on shares of FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research 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 assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and a consensus price target of $52.71.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 5,607 shares of the company’s stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the transaction, the chief financial officer now directly owns 133,923 shares of the company’s stock, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $55.32 on Tuesday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The business’s 50 day moving average price is $52.24 and its 200-day moving average price is $51.76. Fox Co. has a 52 week low of $32.76 and a 52 week high of $58.74. The stock has a market cap of $24.87 billion, a P/E ratio of 11.85, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. During the same period in the previous year, the firm posted $1.40 EPS. The business’s revenue for the quarter was up 26.8% compared to the same quarter last year. Equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current fiscal year.

About FOX

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.