Kathmere Capital Management LLC Purchases New Stake in Fox Co. (NASDAQ:FOXA)

Kathmere Capital Management LLC purchased a new stake in Fox Co. (NASDAQ:FOXA) during the 2nd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The firm purchased 7,185 shares of the company’s stock, valued at approximately $247,000.

Other hedge funds have also added to or reduced their stakes in the company. Raymond James Financial Services Advisors Inc. lifted its stake in FOX by 17.1% in the fourth quarter. Raymond James Financial Services Advisors Inc. now owns 22,632 shares of the company’s stock valued at $671,000 after buying an additional 3,303 shares during the period. Assenagon Asset Management S.A. lifted its stake in FOX by 1.9% in the fourth quarter. Assenagon Asset Management S.A. now owns 75,970 shares of the company’s stock valued at $2,254,000 after buying an additional 1,411 shares during the period. Global Retirement Partners LLC lifted its stake in FOX by 862.2% in the fourth quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock valued at $29,000 after buying an additional 845 shares during the period. Allspring Global Investments Holdings LLC lifted its stake in FOX by 9.8% in the fourth quarter. Allspring Global Investments Holdings LLC now owns 1,094,255 shares of the company’s stock valued at $32,467,000 after buying an additional 97,922 shares during the period. Finally, Cerity Partners LLC lifted its stake in FOX by 44.3% in the fourth quarter. Cerity Partners LLC now owns 17,254 shares of the company’s stock valued at $512,000 after buying an additional 5,293 shares during the period. Institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of the business’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the sale, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Tomsic sold 30,000 shares of the company’s stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FOXA. Bank of America raised FOX from a “neutral” rating to a “buy” rating and increased their target price for the company from $34.00 to $40.00 in a research note on Thursday, May 9th. Deutsche Bank Aktiengesellschaft raised their price target on FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. The Goldman Sachs Group reaffirmed a “buy” rating and set a $42.00 price target on shares of FOX in a research report on Monday, July 1st. Barclays raised their price target on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research report on Monday, May 13th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 price target on shares of FOX in a research report on Monday, April 15th. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus price target of $35.38.

FOX Price Performance

NASDAQ FOXA traded down $0.46 during midday trading on Friday, hitting $37.31. The company had a trading volume of 2,132,481 shares, compared to its average volume of 2,186,745. The company has a market capitalization of $17.41 billion, a PE ratio of 11.70, a P/E/G ratio of 1.51 and a beta of 0.77. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The firm has a 50-day moving average price of $35.17 and a 200-day moving average price of $32.47. Fox Co. has a twelve month low of $28.28 and a twelve month high of $38.55.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. FOX had a return on equity of 15.90% and a net margin of 11.19%. The company had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.44 billion. As a group, analysts anticipate that Fox Co. will post 3.33 earnings per share for the current fiscal year.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.