Kentucky Retirement Systems Sells 340 Shares of Fox Corporation (NASDAQ:FOXA)

Kentucky Retirement Systems decreased its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 2.2% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,097 shares of the company’s stock after selling 340 shares during the period. Kentucky Retirement Systems’ holdings in FOX were worth $854,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of the business. WealthTrak Capital Management LLC bought a new position in shares of FOX during the fourth quarter valued at approximately $26,000. SRS Capital Advisors Inc. raised its holdings in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after purchasing an additional 262 shares in the last quarter. Jones Financial Companies Lllp raised its holdings in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock worth $32,000 after purchasing an additional 249 shares in the last quarter. CIBC Private Wealth Group LLC raised its holdings in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after purchasing an additional 368 shares in the last quarter. Finally, MV Capital Management Inc. raised its holdings in FOX by 929.9% in the 1st quarter. MV Capital Management Inc. now owns 690 shares of the company’s stock worth $39,000 after purchasing an additional 623 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of FOXA opened at $55.99 on Thursday. The company has a market capitalization of $25.17 billion, a P/E ratio of 13.93, a price-to-earnings-growth ratio of 1.18 and a beta of 0.51. 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 has a 50 day moving average of $52.99 and a 200 day moving average of $52.10. Fox Corporation has a twelve month low of $33.82 and a twelve month high of $58.74.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. The company’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the company earned $1.40 EPS. As a group, equities research analysts anticipate that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the sale, the chief financial officer now directly owns 133,923 shares in the company, valued at $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available through this link. 21.77% of the stock is owned by corporate insiders.

Analyst Upgrades and Downgrades

A number of equities analysts recently issued reports on FOXA shares. Wells Fargo & Company increased their price target on shares of FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Cfra Research raised FOX from a “hold” rating to a “moderate buy” rating in a research report on Monday, April 7th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a research report on Monday, April 7th. Morgan Stanley increased their target price on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Finally, Cowen reiterated a “hold” rating on shares of FOX in a report on Tuesday, May 13th. Two equities research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the company’s stock. According to data from MarketBeat, FOX has an average rating of “Hold” and an average target price 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.