Pictet Asset Management Holding SA Acquires 261,072 Shares of Fox Corporation $FOXA

Pictet Asset Management Holding SA grew its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 112.3% during the third quarter, according to its most recent filing with the Securities and Exchange Commission. The institutional investor owned 493,559 shares of the company’s stock after purchasing an additional 261,072 shares during the quarter. Pictet Asset Management Holding SA owned about 0.12% of FOX worth $30,921,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors and hedge funds have also modified their holdings of the company. Alps Advisors Inc. bought a new position in FOX during the third quarter valued at about $736,000. Ashton Thomas Private Wealth LLC acquired a new stake in shares of FOX in the third quarter worth about $226,000. Calamos Advisors LLC boosted its stake in shares of FOX by 2.1% during the 3rd quarter. Calamos Advisors LLC now owns 143,628 shares of the company’s stock worth $8,998,000 after acquiring an additional 2,906 shares in the last quarter. Kestra Advisory Services LLC boosted its stake in shares of FOX by 128.2% during the 3rd quarter. Kestra Advisory Services LLC now owns 9,168 shares of the company’s stock worth $574,000 after acquiring an additional 5,150 shares in the last quarter. Finally, Commonwealth Equity Services LLC boosted its stake in shares of FOX by 4.6% during the 3rd quarter. Commonwealth Equity Services LLC now owns 21,523 shares of the company’s stock worth $1,348,000 after acquiring an additional 943 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Activity

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the business’s stock in a transaction dated Tuesday, September 15th. The stock was acquired at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the SEC, which is accessible through the SEC website. Insiders own 20.89% of the company’s stock.

FOX Trading Down 0.5%

Shares of FOX stock opened at $67.37 on Wednesday. Fox Corporation has a 1 year low of $48.34 and a 1 year high of $76.39. The company’s fifty day simple moving average is $64.85 and its 200-day simple moving average is $62.12. The company has a market cap of $28.42 billion, a price-to-earnings ratio of 14.30, a PEG ratio of 1.08 and a beta of 0.63. The company has a current ratio of 3.79, a quick ratio of 3.50 and a debt-to-equity ratio of 0.53.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 2nd. The company reported $2.54 EPS for the quarter, beating the consensus estimate of $2.02 by $0.52. FOX had a net margin of 11.30% and a return on equity of 23.96%. The firm had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same period in the prior year, the company earned $1.51 EPS. The business’s quarterly revenue was up 22.3% compared to the same quarter last year. As a group, sell-side analysts expect that Fox Corporation will post 6.18 EPS for the current year.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of analyst reports. Arete Research increased their price objective on FOX from $112.00 to $125.00 and gave the company a “buy” rating in a report on Tuesday, October 20th. Oppenheimer lowered FOX to a “market perform” rating in a report on Friday, October 16th. KeyCorp cut FOX to a “sector weight” rating in a research report on Friday, October 16th. Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Monday, October 26th. Finally, Needham & Company LLC initiated coverage on FOX in a report on Friday, October 16th. They set a “buy” rating on the stock. Two research analysts have rated the stock with a Strong Buy rating, thirteen have given a Buy rating and eleven have issued a Hold rating to the stock. Based on data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and an average target price of $79.16.

FOX Company Profile

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content. The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.