Strategic Investment Advisors MI Grows Position in Fox Corporation $FOXA

Strategic Investment Advisors MI increased its holdings in Fox Corporation (NASDAQ:FOXA) by 19.8% in the 1st quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm owned 83,066 shares of the company’s stock after buying an additional 13,749 shares during the period. Strategic Investment Advisors MI’s holdings in FOX were worth $4,855,000 as of its most recent SEC filing.

Other hedge funds have also added to or reduced their stakes in the company. EverSource Wealth Advisors LLC lifted its position in FOX by 20.9% during the first quarter. EverSource Wealth Advisors LLC now owns 1,451 shares of the company’s stock valued at $85,000 after purchasing an additional 251 shares during the last quarter. Andra AP fonden grew its stake in shares of FOX by 208.1% during the first quarter. Andra AP fonden now owns 247,000 shares of the company’s stock valued at $14,425,000 after buying an additional 166,822 shares during the last quarter. Wilkerson Advisory Group LLC grew its position in FOX by 50.6% during the 1st quarter. Wilkerson Advisory Group LLC now owns 1,435 shares of the company’s stock worth $84,000 after acquiring an additional 482 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt increased its stake in shares of FOX by 9.9% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock worth $16,755,000 after buying an additional 25,900 shares during the period. Finally, Wesbanco Bank Inc. increased its position in shares of FOX by 28.6% in the first quarter. Wesbanco Bank Inc. now owns 3,687 shares of the company’s stock valued at $215,000 after acquiring an additional 819 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Wolfe Research upgraded FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price for the company in a report on Tuesday, June 30th. Deutsche Bank Aktiengesellschaft reiterated a “buy” rating and issued a $79.00 target price on shares of FOX in a research note on Tuesday, May 12th. UBS Group reaffirmed a “neutral” rating on shares of FOX in a research report on Monday, June 15th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Evercore set a $73.00 price objective on shares of FOX in a research note on Tuesday, May 12th. One equities research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have assigned a Hold rating and one has given a Sell rating to the company’s stock. According to data from MarketBeat.com, FOX currently has an average rating of “Moderate Buy” and an average target price of $73.56.

FOX Trading Up 2.1%

Shares of FOXA stock opened at $58.95 on Thursday. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. The stock has a market capitalization of $24.77 billion, a price-to-earnings ratio of 15.55, a price-to-earnings-growth ratio of 1.64 and a beta of 0.54. Fox Corporation has a 12-month low of $48.34 and a 12-month high of $76.39. The stock’s 50-day moving average price is $58.15 and its 200-day moving average price is $61.26.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same quarter last year, the business earned $1.10 earnings per share. FOX’s quarterly revenue was down 8.6% compared to the same quarter last year. Equities research analysts predict that Fox Corporation will post 4.96 EPS for the current fiscal year.

About FOX

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.