Livforsakringsbolaget Skandia Omsesidigt Buys 25,900 Shares of Fox Corporation $FOXA

Livforsakringsbolaget Skandia Omsesidigt grew its stake in Fox Corporation (NASDAQ:FOXA) by 9.9% during the 1st quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 287,000 shares of the company’s stock after purchasing an additional 25,900 shares during the period. Livforsakringsbolaget Skandia Omsesidigt’s holdings in FOX were worth $16,755,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Geneos Wealth Management Inc. lifted its stake in shares of FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after buying an additional 621 shares during the period. EverSource Wealth Advisors LLC increased its stake in FOX by 286.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after acquiring an additional 1,014 shares during the period. Baird Financial Group Inc. raised its holdings in FOX by 19.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock valued at $981,000 after acquiring an additional 2,876 shares in the last quarter. California State Teachers Retirement System raised its holdings in FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock valued at $19,661,000 after acquiring an additional 49,963 shares in the last quarter. Finally, Ameriprise Financial Inc. lifted its position in shares of FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after acquiring an additional 762,645 shares during the period. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several brokerages have recently weighed in on FOXA. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $79.00 price objective on shares of FOX in a report on Tuesday, May 12th. Seaport Research Partners reaffirmed a “buy” rating and issued a $61.00 target price on shares of FOX in a research report on Tuesday, June 16th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Wolfe Research raised shares of FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 price target on the stock in a report on Tuesday, June 30th. Finally, Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the company a “buy” rating in a report on Friday. One equities research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have assigned a Hold rating and one has issued a Sell rating to the stock. According to data from MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $73.56.

FOX Stock Performance

FOX stock opened at $54.87 on Wednesday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The stock has a fifty day moving average price of $59.89 and a two-hundred day moving average price of $62.62. Fox Corporation has a 52-week low of $48.34 and a 52-week high of $76.39. The firm has a market capitalization of $23.06 billion, a P/E ratio of 14.48, a P/E/G ratio of 1.59 and a beta of 0.54.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The company had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same period last year, the business earned $1.10 earnings per share. The business’s revenue was down 8.6% on a year-over-year basis. As a group, analysts anticipate that Fox Corporation will post 4.94 EPS for the current fiscal year.

FOX Profile

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.