Wellington Management Group LLP lifted its position in Fox Corp (NASDAQ:FOX) by 96.0% in the 1st quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 11,004 shares of the company’s stock after buying an additional 5,389 shares during the quarter. Wellington Management Group LLP’s holdings in FOX were worth $252,000 as of its most recent SEC filing.
Several other large investors have also recently added to or reduced their stakes in FOX. Victory Capital Management Inc. grew its stake in shares of FOX by 8.9% in the fourth quarter. Victory Capital Management Inc. now owns 75,862 shares of the company’s stock valued at $2,761,000 after buying an additional 6,168 shares in the last quarter. Korea Investment CORP increased its holdings in shares of FOX by 469.5% in the fourth quarter. Korea Investment CORP now owns 86,000 shares of the company’s stock valued at $3,130,000 after purchasing an additional 70,900 shares during the last quarter. KBC Group NV raised its position in shares of FOX by 0.8% in the fourth quarter. KBC Group NV now owns 123,464 shares of the company’s stock valued at $4,494,000 after purchasing an additional 1,001 shares during the period. Envestnet Asset Management Inc. raised its holdings in FOX by 20.9% in the 4th quarter. Envestnet Asset Management Inc. now owns 75,599 shares of the company’s stock valued at $2,752,000 after acquiring an additional 13,071 shares during the period. Finally, Vident Investment Advisory LLC bought a new position in FOX in the 4th quarter valued at about $242,000. 23.28% of the stock is owned by institutional investors and hedge funds.
FOX stock opened at $26.79 on Wednesday. The stock’s 50 day simple moving average is $27.78 and its 200 day simple moving average is $30.27. Fox Corp has a fifty-two week low of $19.13 and a fifty-two week high of $38.84. The company has a debt-to-equity ratio of 0.67, a quick ratio of 3.24 and a current ratio of 3.79. The company has a market cap of $15.55 billion, a P/E ratio of 12.52 and a beta of 1.57.
FOX (NASDAQ:FOX) last issued its quarterly earnings data on Wednesday, May 6th. The company reported $0.93 EPS for the quarter. The firm had revenue of $3.44 billion during the quarter. FOX had a return on equity of 15.13% and a net margin of 10.74%.
In other FOX news, CEO Lachlan K. Murdoch purchased 49,498 shares of the firm’s stock in a transaction that occurred on Saturday, June 20th. The stock was bought at an average cost of $28.32 per share, with a total value of $1,401,783.36. Following the completion of the transaction, the chief executive officer now owns 98,324 shares of the company’s stock, valued at approximately $2,784,535.68. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch purchased 101,556 shares of the firm’s stock in a transaction that occurred on Monday, June 15th. The shares were acquired at an average cost of $28.29 per share, with a total value of $2,873,019.24. Following the completion of the transaction, the chief executive officer now directly owns 191,056 shares of the company’s stock, valued at approximately $5,404,974.24. The disclosure for this purchase can be found here. Corporate insiders own 17.47% of the company’s stock.
FOX has been the topic of several research analyst reports. BidaskClub raised shares of FOX from a “strong sell” rating to a “sell” rating in a report on Thursday, April 30th. Guggenheim upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $29.00 target price on the stock in a research report on Thursday, April 2nd. Royal Bank of Canada assumed coverage on shares of FOX in a research report on Monday, April 27th. They set a “buy” rating and a $31.00 price target on the stock. Societe Generale upgraded shares of FOX to a “hold” rating and set a $24.00 price target on the stock in a research report on Wednesday, April 8th. Finally, Wells Fargo & Co reduced their price target on shares of FOX from $33.00 to $20.00 and set an “underweight” rating on the stock in a research report on Monday, April 6th. Three investment analysts have rated the stock with a sell rating, three have given a hold rating and three have issued a buy rating to the company’s stock. The stock presently has an average rating of “Hold” and an average price target of $28.67.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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