Allworth Financial LP Has $45,000 Stock Holdings in Fox Corporation (NASDAQ:FOXA)

Allworth Financial LP grew its stake in shares of Fox Corporation (NASDAQ:FOXA) by 55.2% during the 1st quarter, Holdings Channel reports. The firm owned 787 shares of the company’s stock after buying an additional 280 shares during the period. Allworth Financial LP’s holdings in FOX were worth $45,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently made changes to their positions in FOXA. Norges Bank bought a new position in shares of FOX in the fourth quarter valued at $132,161,000. FMR LLC lifted its stake in FOX by 240.2% in the fourth quarter. FMR LLC now owns 1,884,927 shares of the company’s stock valued at $91,570,000 after acquiring an additional 1,330,908 shares during the last quarter. Robeco Institutional Asset Management B.V. grew its position in shares of FOX by 54.9% in the 1st quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company’s stock valued at $106,783,000 after acquiring an additional 668,553 shares during the period. Northern Trust Corp increased its stake in shares of FOX by 17.1% during the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after purchasing an additional 511,554 shares during the last quarter. Finally, Balyasny Asset Management L.P. increased its stake in shares of FOX by 114.8% during the 4th quarter. Balyasny Asset Management L.P. now owns 886,003 shares of the company’s stock worth $43,042,000 after purchasing an additional 473,498 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages have weighed in on FOXA. 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. Wells Fargo & Company boosted their target price on FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Barclays restated an “outperform” rating on shares of FOX in a research note on Tuesday, May 13th. Wolfe Research raised shares of FOX from an “underperform” rating to a “peer perform” rating in a research report on Wednesday, July 9th. Finally, Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the company a “buy” rating in a research report on Wednesday, June 25th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and an average price target of $53.53.

FOX Price Performance

FOX stock opened at $56.25 on Friday. The firm has a market cap of $25.29 billion, a PE ratio of 13.99, a price-to-earnings-growth ratio of 1.26 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. The stock’s fifty day moving average price is $55.27 and its two-hundred day moving average price is $52.97. Fox Corporation has a one year low of $36.09 and a one year high of $58.74.

FOX (NASDAQ:FOXA) last issued its quarterly 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 company had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.14 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. FOX’s revenue was up 26.8% on a year-over-year basis. During the same quarter last year, the business earned $1.40 earnings per share. As a group, research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 39,642 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this hyperlink. 21.77% of the stock is currently owned by corporate insiders.

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.