Sequoia Financial Advisors LLC Increases Stock Holdings in Fox Corporation (NASDAQ:FOXA)

Sequoia Financial Advisors LLC raised its stake in Fox Corporation (NASDAQ:FOXA) by 7.8% during the first quarter, HoldingsChannel reports. The institutional investor owned 6,433 shares of the company’s stock after purchasing an additional 464 shares during the quarter. Sequoia Financial Advisors LLC’s holdings in FOX were worth $364,000 at the end of the most recent quarter.

A number of other large investors also recently bought and sold shares of the stock. Dimensional Fund Advisors LP lifted its position in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after buying an additional 39,959 shares during the last quarter. Northern Trust Corp lifted its position in FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after buying an additional 511,554 shares during the last quarter. Norges Bank acquired a new position in FOX in the fourth quarter valued at about $132,161,000. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its position in FOX by 8.9% in the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after buying an additional 219,016 shares during the last quarter. Finally, Amundi lifted its position in FOX by 9.9% in the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock valued at $119,006,000 after buying an additional 219,380 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of research firms have commented on FOXA. Barclays reaffirmed an “outperform” rating on shares of FOX in a research report on Tuesday, May 13th. Bank of America increased their price target on shares of FOX from $60.00 to $65.00 and gave the stock a “buy” rating in a research report on Wednesday, June 25th. Guggenheim reissued a “buy” rating and set a $62.00 price target (up previously from $60.00) on shares of FOX in a research report on Wednesday, June 25th. Cowen reissued a “hold” rating on shares of FOX in a research report on Tuesday, May 13th. Finally, Loop Capital increased 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. Two investment analysts have rated the stock with a sell rating, eleven have issued a hold rating and nine have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and a consensus target price of $53.53.

Insiders Place Their Bets

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

FOX Stock Up 2.0%

Shares of NASDAQ:FOXA opened at $56.21 on Friday. The firm’s 50 day moving average price is $53.95 and its 200 day moving average price is $52.49. The stock has a market cap of $25.27 billion, a price-to-earnings ratio of 13.98, a price-to-earnings-growth ratio of 1.23 and a beta of 0.51. Fox Corporation has a fifty-two week low of $34.35 and a fifty-two 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.

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

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.