KBC Group NV Grows Stake in Fox Corporation (NASDAQ:FOXA)

KBC Group NV increased its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 1.3% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 2,397,604 shares of the company’s stock after purchasing an additional 29,906 shares during the quarter. KBC Group NV’s holdings in FOX were worth $135,704,000 at the end of the most recent reporting period.

Several other institutional investors have also recently made changes to their positions in the business. 3Chopt Investment Partners LLC lifted its stake in shares of FOX by 13.2% in the 1st quarter. 3Chopt Investment Partners LLC now owns 11,688 shares of the company’s stock valued at $662,000 after purchasing an additional 1,365 shares during the last quarter. Board of the Pension Protection Fund bought a new stake in shares of FOX in the 1st quarter valued at approximately $481,000. Sequoia Financial Advisors LLC lifted its stake in shares of FOX by 7.8% in the 1st quarter. Sequoia Financial Advisors LLC now owns 6,433 shares of the company’s stock valued at $364,000 after purchasing an additional 464 shares during the last quarter. Robeco Institutional Asset Management B.V. lifted its stake in shares of FOX by 54.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company’s stock valued at $106,783,000 after purchasing an additional 668,553 shares during the last quarter. Finally, Strategic Investment Advisors MI lifted its stake in shares of FOX by 743.1% during the 1st quarter. Strategic Investment Advisors MI now owns 46,178 shares of the company’s stock worth $2,614,000 after acquiring an additional 40,701 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FOXA shares. Loop Capital raised their price target on FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research note on Tuesday, May 13th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Cowen reissued a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Barclays reissued an “outperform” rating on shares of FOX in a research note on Tuesday, May 13th. Finally, Guggenheim reissued a “buy” rating and set a $62.00 price target (up from $60.00) on shares of FOX in a research note on Wednesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, FOX currently has an average rating of “Hold” and a consensus price target of $53.53.

FOX Trading Up 0.2%

Shares of NASDAQ:FOXA opened at $56.79 on Friday. Fox Corporation has a 12-month low of $33.84 and a 12-month high of $58.74. The business’s fifty day simple moving average is $53.34 and its 200-day simple moving average is $52.29. The company has a market capitalization of $25.53 billion, a PE ratio of 14.13, a P/E/G ratio of 1.20 and a beta of 0.51. The company has a current ratio of 2.45, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

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

Insider Activity

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer now owns 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Company insiders own 21.77% of the company’s stock.

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.