MOKAN Wealth Management Inc. Trims Stake in Fox Corporation (NASDAQ:FOXA)

MOKAN Wealth Management Inc. cut its stake in Fox Corporation (NASDAQ:FOXA) by 10.7% in the 1st quarter, HoldingsChannel.com reports. The institutional investor owned 10,474 shares of the company’s stock after selling 1,259 shares during the quarter. MOKAN Wealth Management Inc.’s holdings in FOX were worth $593,000 as of its most recent SEC filing.

Several other large investors have also bought and sold shares of the company. Dimensional Fund Advisors LP raised its holdings in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock worth $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp boosted its holdings in shares of FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. Norges Bank purchased a new stake in shares of FOX in the 4th quarter worth about $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its stake in shares of FOX by 8.9% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock worth $130,043,000 after acquiring an additional 219,016 shares in the last quarter. Finally, Amundi increased its stake in shares of FOX by 9.9% in the 4th quarter. Amundi now owns 2,434,443 shares of the company’s stock worth $119,006,000 after acquiring an additional 219,380 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

Several equities research analysts recently commented on the stock. Wells Fargo & Company boosted their price objective 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. Wolfe Research lowered 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. UBS Group boosted their price target on FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Cowen restated a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Loop Capital raised their price objective on FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $52.71.

FOX Stock Down 0.3%

FOXA stock opened at $55.90 on Wednesday. The stock has a market capitalization of $25.13 billion, a P/E ratio of 13.91, a P/E/G ratio of 1.19 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. Fox Corporation has a 1-year low of $33.82 and a 1-year high of $58.74. The business has a fifty day moving average price of $52.84 and a 200-day moving average price of $52.07.

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

Insider Activity

In related news, CFO Steven Tomsic sold 5,607 shares of the firm’s stock in a transaction that occurred on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer now owns 133,923 shares in the company, valued at approximately $7,415,316.51. This trade represents a 4.02% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. 21.77% of the stock is owned by corporate 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.