CSM Advisors LLC Takes Position in Fox Corporation $FOXA

CSM Advisors LLC bought a new position in Fox Corporation (NASDAQ:FOXA) during the second quarter, according to its most recent filing with the Securities and Exchange Commission. The fund bought 460,135 shares of the company’s stock, valued at approximately $25,787,000. CSM Advisors LLC owned approximately 0.10% of FOX at the end of the most recent reporting period.

Several other institutional investors and hedge funds have also added to or reduced their stakes in FOXA. Hemington Wealth Management grew its position in FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the last quarter. Zions Bancorporation National Association UT bought a new stake in shares of FOX during the 1st quarter worth $40,000. Allworth Financial LP grew its holdings in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after acquiring an additional 280 shares during the last quarter. TCTC Holdings LLC raised its position in shares of FOX by 112.5% during the first quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after purchasing an additional 422 shares during the period. Finally, Geneos Wealth Management Inc. lifted its holdings in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of analyst reports. TD Cowen lifted their price target on FOX from $53.00 to $55.00 and gave the stock a “hold” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b+)” rating on shares of FOX in a report on Wednesday, October 8th. Bank of America boosted their price target on shares of FOX from $65.00 to $70.00 and gave the company a “buy” rating in a report on Friday, September 26th. Barclays raised their price objective on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. Finally, Arete Research upgraded shares of FOX to a “strong-buy” rating in a research report on Tuesday, October 28th. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and an average target price of $69.94.

FOX Stock Performance

Shares of FOXA opened at $65.97 on Friday. The company has a market capitalization of $29.39 billion, a PE ratio of 14.82, a PEG ratio of 1.48 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The company’s 50 day moving average price is $60.63 and its 200 day moving average price is $57.01. Fox Corporation has a 52 week low of $44.15 and a 52 week high of $66.64.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion during the quarter, compared to analyst estimates of $3.57 billion. During the same quarter last year, the business posted $1.45 EPS. The company’s revenue for the quarter was up 4.9% on a year-over-year basis. Research analysts expect that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 168,756 shares of the business’s stock in a transaction dated Friday, November 7th. The stock was 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 SEC, which is accessible through the SEC website. Also, Director Paul D. Ryan sold 17,767 shares of the company’s 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 disclosure for this sale is available in the SEC filing. 19.68% of the stock is currently owned by company 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.