Fox Co. (NASDAQ:FOXA) Shares Sold by Greystone Financial Group LLC

Greystone Financial Group LLC decreased its holdings in shares of Fox Co. (NASDAQ:FOXA) by 21.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 161,112 shares of the company’s stock after selling 45,206 shares during the quarter. FOX comprises approximately 1.7% of Greystone Financial Group LLC’s holdings, making the stock its 29th biggest holding. Greystone Financial Group LLC’s holdings in FOX were worth $9,119,000 as of its most recent SEC filing.

A number of other institutional investors have also recently added to or reduced their stakes in the business. Janney Montgomery Scott LLC boosted its position in shares of FOX by 7.1% in the fourth quarter. Janney Montgomery Scott LLC now owns 12,613 shares of the company’s stock worth $613,000 after buying an additional 838 shares during the period. Kingsview Wealth Management LLC purchased a new position in FOX in the 4th quarter worth approximately $3,418,000. Empowered Funds LLC grew its position in FOX by 53.9% in the fourth quarter. Empowered Funds LLC now owns 433,029 shares of the company’s stock valued at $21,037,000 after acquiring an additional 151,573 shares in the last quarter. Entropy Technologies LP grew its position in FOX by 48.4% in the fourth quarter. Entropy Technologies LP now owns 19,142 shares of the company’s stock valued at $930,000 after acquiring an additional 6,246 shares in the last quarter. Finally, Newbridge Financial Services Group Inc. raised its stake in shares of FOX by 136.4% during the fourth quarter. Newbridge Financial Services Group Inc. now owns 18,226 shares of the company’s stock valued at $885,000 after purchasing an additional 10,517 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

Shares of FOXA opened at $54.37 on Monday. The stock has a market capitalization of $24.45 billion, a PE ratio of 11.64, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The business’s fifty day moving average price is $51.76 and its 200 day moving average price is $51.43. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 12-month low of $32.76 and a 12-month high of $58.74.

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

Analyst Ratings Changes

Several brokerages have recently weighed in on FOXA. Wolfe Research downgraded shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a research note on Monday, April 7th. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of FOX in a report on Tuesday, March 25th. Cowen restated a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. UBS Group lifted their target price on FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Morgan Stanley boosted their price target on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the company currently has a consensus rating of “Hold” and a consensus target price of $52.71.

Insider Buying and Selling at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the firm’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the sale, the chief financial officer now owns 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. 21.77% of the stock is currently owned by insiders.

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.