Andra AP fonden Increases Holdings in Fox Corporation $FOXA

Andra AP fonden lifted its stake in Fox Corporation (NASDAQ:FOXA) by 2.6% during the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 944,500 shares of the company’s stock after buying an additional 23,700 shares during the quarter. FOX makes up about 0.8% of Andra AP fonden’s investment portfolio, making the stock its 16th largest position. Andra AP fonden owned about 0.21% of FOX worth $59,560,000 as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently modified their holdings of the company. CYBER HORNET ETFs LLC bought a new position in shares of FOX in the 2nd quarter valued at about $35,000. Geneos Wealth Management Inc. raised its stake in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after acquiring an additional 621 shares in the last quarter. Root Financial Partners LLC bought a new position in shares of FOX during the 3rd quarter worth $60,000. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX during the third quarter valued at approximately $75,000. Finally, EverSource Wealth Advisors LLC boosted its position in FOX by 286.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after purchasing an additional 1,014 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

FOXA has been the topic of a number of research analyst reports. Weiss Ratings restated a “buy (b)” rating on shares of FOX in a research note on Monday, December 29th. TD Cowen raised their price target on shares of FOX from $55.00 to $65.00 and gave the company a “hold” rating in a research report on Thursday, February 5th. Citigroup lifted their price target on shares of FOX from $77.00 to $78.00 and gave the company a “buy” rating in a research note on Thursday, February 5th. Argus raised FOX to a “hold” rating in a research note on Thursday, February 19th. Finally, Bank of America lowered FOX from a “buy” rating to an “underperform” rating and set a $45.00 price objective on the stock. in a research note on Wednesday. Seven research analysts have rated the stock with a Buy rating, nine have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, FOX currently has an average rating of “Hold” and an average target price of $71.80.

FOX Trading Up 5.0%

NASDAQ FOXA opened at $56.82 on Friday. Fox Corporation has a 52 week low of $46.42 and a 52 week high of $76.39. The firm has a 50 day moving average of $68.37 and a two-hundred day moving average of $64.46. The company has a quick ratio of 2.44, a current ratio of 2.78 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $24.17 billion, a PE ratio of 13.66, a price-to-earnings-growth ratio of 7.07 and a beta of 0.51.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating analysts’ consensus estimates of $0.47 by $0.35. FOX had a net margin of 11.41% and a return on equity of 18.14%. The business had revenue of $5.18 billion for the quarter, compared to analyst estimates of $5.02 billion. During the same period last year, the business earned $0.96 EPS. The company’s revenue was up 2.0% on a year-over-year basis. As a group, research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a dividend, which will be paid on Wednesday, March 25th. Investors of record on Wednesday, March 4th will be paid a dividend of $0.28 per share. This represents a yield of 83.0%. The ex-dividend date is Wednesday, March 4th. FOX’s dividend payout ratio (DPR) is currently 13.46%.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 29,897 shares of the firm’s stock in a transaction on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the transaction, the insider directly owned 35,978 shares of the company’s stock, valued at approximately $2,502,269.90. This trade represents a 45.38% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at the SEC website. 19.68% of the stock is currently owned by corporate insiders.

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.