Livforsakringsbolaget Skandia Omsesidigt Decreases Stock Position in Fox Co. (NASDAQ:FOXA)

Livforsakringsbolaget Skandia Omsesidigt cut its holdings in Fox Co. (NASDAQ:FOXA) by 3.8% in the first quarter, according to the company in its most recent disclosure with the SEC. The fund owned 224,900 shares of the company’s stock after selling 8,800 shares during the quarter. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FOX were worth $12,729,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXA. Norges Bank purchased a new stake in FOX in the fourth quarter valued at about $132,161,000. Jupiter Asset Management Ltd. purchased a new position in shares of FOX in the fourth quarter worth about $67,471,000. FMR LLC raised its stake in shares of FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company’s stock worth $91,570,000 after purchasing an additional 1,330,908 shares during the last quarter. Allianz Asset Management GmbH raised its stake in shares of FOX by 3,077.5% in the fourth quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company’s stock worth $43,016,000 after purchasing an additional 857,609 shares during the last quarter. Finally, Victory Capital Management Inc. raised its stake in shares of FOX by 338.7% in the fourth quarter. Victory Capital Management Inc. now owns 857,929 shares of the company’s stock worth $41,678,000 after purchasing an additional 662,367 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction that occurred on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer now directly owns 133,923 shares of the company’s stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this link. Corporate insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

Several brokerages recently weighed in on FOXA. Morgan Stanley lifted their price target on FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. Wells Fargo & Company lifted their price target on FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday, May 13th. Barclays reiterated an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th. Loop Capital lifted their price target on FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Finally, Wolfe Research cut FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target for the company. in a research report on Monday, April 7th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, FOX has an average rating of “Hold” and an average target price of $52.71.

FOX Stock Down 0.5%

Shares of FOXA opened at $54.10 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $51.70 and its two-hundred day moving average is $51.48. The firm has a market cap of $24.32 billion, a P/E ratio of 11.58, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 12 month low of $32.76 and a 12 month high of $58.74.

FOX (NASDAQ:FOXA) last issued 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 firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 earnings per share. Analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

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.