Rhumbline Advisers Acquires 10,941 Shares of Fox Corporation $FOXA

Rhumbline Advisers grew its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 2.5% during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 454,372 shares of the company’s stock after purchasing an additional 10,941 shares during the quarter. Rhumbline Advisers owned about 0.10% of FOX worth $25,463,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Federated Hermes Inc. increased its position in FOX by 164,675.7% during the first quarter. Federated Hermes Inc. now owns 1,255,591 shares of the company’s stock worth $71,066,000 after buying an additional 1,254,829 shares during the last quarter. Nuveen LLC acquired a new stake in shares of FOX in the first quarter worth about $63,125,000. Junto Capital Management LP bought a new stake in shares of FOX during the 1st quarter worth about $53,681,000. Ameriprise Financial Inc. increased its holdings in shares of FOX by 537.0% during the 1st quarter. Ameriprise Financial Inc. now owns 1,058,639 shares of the company’s stock valued at $59,909,000 after acquiring an additional 892,437 shares during the last quarter. Finally, AQR Capital Management LLC increased its holdings in shares of FOX by 101.6% during the 1st quarter. AQR Capital Management LLC now owns 1,420,195 shares of the company’s stock valued at $78,381,000 after acquiring an additional 715,583 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

Several equities research analysts recently weighed in on the company. The Goldman Sachs Group restated a “buy” rating and issued a $79.00 target price on shares of FOX in a report on Thursday, October 30th. Citigroup lifted their price target on shares of FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research report on Wednesday, November 12th. Wells Fargo & Company boosted their price objective on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Weiss Ratings reaffirmed a “buy (b)” rating on shares of FOX in a report on Wednesday, November 19th. Finally, Evercore ISI lifted their target price on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a report on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have given a Hold rating to the company. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and an average target price of $70.50.

FOX Price Performance

Shares of FOX stock opened at $65.05 on Thursday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. The company has a market cap of $28.88 billion, a PE ratio of 14.62, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The firm has a fifty day moving average price of $62.13 and a two-hundred day moving average price of $58.44. Fox Corporation has a fifty-two week low of $45.78 and a fifty-two week high of $67.22.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same quarter in the previous year, the firm posted $1.45 EPS. The business’s revenue was up 4.9% compared to the same quarter last year. Analysts expect that Fox Corporation will post 4.38 EPS for the current year.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 138,397 shares of the business’s stock in a transaction that occurred on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the sale, the chief financial officer directly owned 180,556 shares in the company, valued at approximately $12,014,196.24. The trade was a 43.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Director Paul D. Ryan sold 17,767 shares of the firm’s stock in a transaction on Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The disclosure for this sale is available in the SEC filing. Insiders sold a total of 424,920 shares of company stock valued at $27,411,254 in the last quarter. Corporate insiders own 19.68% of the company’s stock.

FOX Company Profile

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.