First Horizon Advisors Inc. Acquires 2,257 Shares of Fox Corporation $FOXA

First Horizon Advisors Inc. raised its holdings in Fox Corporation (NASDAQ:FOXA) by 1,709.8% in the second quarter, Holdings Channel reports. The fund owned 2,389 shares of the company’s stock after acquiring an additional 2,257 shares during the period. First Horizon Advisors Inc.’s holdings in FOX were worth $134,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FOXA. Envestnet Asset Management Inc. increased its stake in FOX by 5.9% during the 1st quarter. Envestnet Asset Management Inc. now owns 222,922 shares of the company’s stock worth $12,617,000 after purchasing an additional 12,483 shares in the last quarter. Greenleaf Trust boosted its holdings in shares of FOX by 3.1% in the first quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock valued at $384,000 after buying an additional 205 shares during the period. Allworth Financial LP boosted its holdings in shares of FOX by 55.2% in the first quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after buying an additional 280 shares during the period. Fidelis Capital Partners LLC bought a new stake in shares of FOX during the first quarter worth $514,000. Finally, Park Square Financial Group LLC raised its holdings in shares of FOX by 536.9% during the first quarter. Park Square Financial Group LLC now owns 1,070 shares of the company’s stock worth $61,000 after acquiring an additional 902 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 168,756 shares of the firm’s stock in a transaction dated Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction dated Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The SEC filing for this sale provides additional information. Company insiders own 19.68% of the company’s stock.

FOX Stock Up 0.4%

FOXA stock opened at $65.97 on Friday. The company has a market cap of $29.39 billion, a price-to-earnings ratio of 14.82, a P/E/G ratio of 1.48 and a beta of 0.52. Fox Corporation has a twelve month low of $44.15 and a twelve month high of $66.64. The business has a 50 day moving average price of $60.63 and a two-hundred day moving average price of $57.01. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54.

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

Analyst Upgrades and Downgrades

A number of equities analysts recently weighed in on the stock. Guggenheim upped their target price on shares of FOX from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Wells Fargo & Company boosted their price target on FOX from $70.00 to $80.00 and gave the company an “overweight” rating in a report on Friday, October 31st. TD Cowen increased their price objective on FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a report on Friday, October 31st. Weiss Ratings reissued a “buy (b+)” rating on shares of FOX in a research report on Wednesday, October 8th. Finally, The Goldman Sachs Group reaffirmed a “buy” rating and set a $79.00 price target on shares of FOX in a research report on Thursday, October 30th. Two investment analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have assigned a Hold rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $69.94.

FOX 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.