Rhumbline Advisers Has $14.59 Million Stake in Fox Corporation $FOX

by · The Markets Daily

Rhumbline Advisers raised its position in shares of Fox Corporation (NASDAQ:FOX – Free Report) by 1.4% during the 2nd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 282,575 shares of the company’s stock after purchasing an additional 3,803 shares during the quarter. Rhumbline Advisers owned 0.06% of FOX worth $14,589,000 at the end of the most recent quarter.

A number of other hedge funds also recently modified their holdings of FOX. Federated Hermes Inc. grew its holdings in shares of FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company’s stock valued at $31,000 after buying an additional 231 shares in the last quarter. Northwestern Mutual Wealth Management Co. grew its stake in FOX by 183.0% during the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company’s stock valued at $42,000 after acquiring an additional 518 shares in the last quarter. SVB Wealth LLC purchased a new position in FOX during the 1st quarter valued at about $69,000. Covestor Ltd increased its holdings in shares of FOX by 37.0% in the 1st quarter. Covestor Ltd now owns 1,402 shares of the company’s stock valued at $74,000 after purchasing an additional 379 shares during the period. Finally, Geneos Wealth Management Inc. lifted its position in shares of FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock worth $76,000 after purchasing an additional 703 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

A number of brokerages recently commented on FOX. Fox Advisors set a $97.00 price objective on shares of FOX in a research report on Tuesday, October 28th. UBS Group restated a “buy” rating on shares of FOX in a report on Friday, October 31st. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Tuesday, October 7th. Cfra reiterated a “buy” rating and set a $73.00 price objective on shares of FOX in a report on Monday, November 3rd. Finally, Weiss Ratings restated a “buy (b+)” rating on shares of FOX in a research note on Wednesday. One investment analyst has rated the stock with a Strong Buy rating, three have issued a Buy rating and one has assigned a Hold rating to the stock. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average price target of $81.67.

Get Our Latest Research Report on FOX

Insider Activity at FOX

In related news, Director Paul D. Ryan sold 17,767 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, CFO Steven Tomsic sold 138,397 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the transaction, the chief financial officer owned 180,556 shares in the company, valued at approximately $12,014,196.24. This trade represents a 43.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. In the last ninety days, insiders have sold 424,920 shares of company stock valued at $27,411,254. Corporate insiders own 23.06% of the company’s stock.

FOX Stock Up 0.2%

FOX stock opened at $58.26 on Friday. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. Fox Corporation has a 1-year low of $43.18 and a 1-year high of $60.73. The firm’s fifty day simple moving average is $56.02 and its 200-day simple moving average is $53.28. The company has a market capitalization of $25.86 billion, a P/E ratio of 13.09, a P/E/G ratio of 1.29 and a beta of 0.57.

FOX (NASDAQ:FOX – Get Free Report) last issued 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 $1.06 by $0.45. FOX had a net margin of 12.35% and a return on equity of 18.61%. The firm had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. Sell-side analysts forecast that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Profile

(Free Report)

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.

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