HB Wealth Management LLC Buys New Shares in Fox Corporation (NASDAQ:FOXA)

HB Wealth Management LLC bought a new stake in Fox Corporation (NASDAQ:FOXA) during the 1st quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund bought 7,413 shares of the company’s stock, valued at approximately $420,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Dimensional Fund Advisors LP increased its stake in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp increased its stake in FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after purchasing an additional 511,554 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in FOX by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after purchasing an additional 219,016 shares in the last quarter. AustralianSuper Pty Ltd increased its stake in FOX by 8.8% in the first quarter. AustralianSuper Pty Ltd now owns 2,636,367 shares of the company’s stock valued at $149,218,000 after purchasing an additional 212,348 shares in the last quarter. Finally, KBC Group NV increased its stake in FOX by 1.3% in the first quarter. KBC Group NV now owns 2,397,604 shares of the company’s stock valued at $135,704,000 after purchasing an additional 29,906 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

FOXA has been the subject of several research analyst reports. Cfra Research downgraded shares of FOX from a “moderate buy” rating to a “hold” rating in a research note on Friday, June 27th. Bank of America boosted their target price on shares of FOX from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Cowen reissued a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. UBS Group set a $65.00 target price on shares of FOX and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. One equities research analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and an average target price of $53.53.

FOX Stock Up 0.5%

FOX stock opened at $55.76 on Friday. Fox Corporation has a fifty-two week low of $36.09 and a fifty-two week high of $58.74. The stock has a market cap of $25.07 billion, a PE ratio of 13.87, a price-to-earnings-growth ratio of 1.24 and a beta of 0.51. The firm’s 50-day simple moving average is $55.43 and its 200 day simple moving average is $53.42. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. FOX had a net margin of 11.58% and a return on equity of 17.99%. The company’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company earned $1.40 earnings per share. Research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the business’s stock in a transaction dated 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 directly owned 133,923 shares in the company, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 21.77% of the stock is currently owned by insiders.

FOX Company 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.