Strategic Investment Advisors MI Has $4.86 Million Position in Fox Corporation $FOXA

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

Other hedge funds and other institutional investors also recently modified their holdings of the company. FWL Investment Management LLC acquired a new stake in shares of FOX during the 3rd quarter worth $26,000. Elyxium Wealth LLC bought a new position in shares of FOX in the 4th quarter valued at $27,000. CYBER HORNET ETFs LLC acquired a new position in FOX in the 2nd quarter worth about $35,000. Quantbot Technologies LP acquired a new position in shares of FOX in the third quarter valued at approximately $51,000. Finally, Private Trust Co. NA boosted its position in FOX by 35.6% during the 4th quarter. Private Trust Co. NA now owns 712 shares of the company’s stock worth $52,000 after buying an additional 187 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts have recently commented on FOXA shares. Wells Fargo & Company cut their price target on shares of FOX from $71.00 to $65.00 and set an “equal weight” rating on the stock in a report on Monday, July 6th. Rothschild & Co Redburn set a $71.00 price target on FOX and gave the company a “buy” rating in a research note on Friday, July 10th. Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $79.00 target price on shares of FOX in a research report on Tuesday, May 12th. Finally, Seaport Research Partners restated a “buy” rating and issued a $61.00 price target on shares of FOX in a research report on Tuesday, June 16th. One research analyst has rated the stock with a Strong Buy rating, eight have assigned a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the company. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus price target of $73.56.

FOX Price Performance

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

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

FOX Profile

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.