Venturi Wealth Management LLC Increases Stake in Fox Corporation (NASDAQ:FOXA)

Venturi Wealth Management LLC lifted its stake in Fox Corporation (NASDAQ:FOXA) by 59.8% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 5,096 shares of the company’s stock after purchasing an additional 1,907 shares during the quarter. Venturi Wealth Management LLC’s holdings in FOX were worth $288,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of the stock. Norges Bank purchased a new position in FOX during the 4th quarter worth approximately $132,161,000. FMR LLC raised its position in FOX by 240.2% during the 4th quarter. FMR LLC now owns 1,884,927 shares of the company’s stock worth $91,570,000 after buying an additional 1,330,908 shares during the last quarter. Allianz Asset Management GmbH raised its position in FOX by 85.4% during the 1st quarter. Allianz Asset Management GmbH now owns 1,641,592 shares of the company’s stock worth $92,914,000 after buying an additional 756,116 shares during the last quarter. Robeco Institutional Asset Management B.V. raised its position in FOX by 54.9% during the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company’s stock worth $106,783,000 after buying an additional 668,553 shares during the last quarter. Finally, Northern Trust Corp raised its position in FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after buying an additional 511,554 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In other FOX news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares of the company’s stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. 21.77% of the stock is currently owned by company insiders.

FOX Trading Up 0.7%

Shares of FOXA opened at $56.67 on Friday. Fox Corporation has a 52-week low of $36.09 and a 52-week high of $58.74. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The firm’s fifty day moving average is $55.41 and its two-hundred day moving average is $53.22. The stock has a market cap of $25.48 billion, a PE ratio of 14.10, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FOXA shares. Wells Fargo & Company raised their price target on shares of FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a research report on Tuesday, May 13th. Loop Capital raised their price target on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. UBS Group set a $65.00 target price on shares of FOX and gave the company a “buy” rating in a report on Wednesday, June 25th. Morgan Stanley lifted their target price on shares of FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a report on Tuesday, May 13th. Finally, Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a report on Wednesday, July 9th. One analyst has rated the stock with a sell rating, twelve have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $53.53.

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.