Victory Capital Management Inc. Sells 128,123 Shares of Fox Co. (NASDAQ:FOXA)

Victory Capital Management Inc. lessened its position in shares of Fox Co. (NASDAQ:FOXAGet Rating) by 21.8% in the first quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 460,820 shares of the company’s stock after selling 128,123 shares during the period. Victory Capital Management Inc.’s holdings in FOX were worth $16,516,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FOXA. Scout Investments Inc. bought a new position in FOX during the first quarter worth $36,623,000. Unigestion Holding SA acquired a new stake in FOX in the fourth quarter worth $30,875,000. Millennium Management LLC grew its holdings in FOX by 59.3% in the fourth quarter. Millennium Management LLC now owns 2,088,355 shares of the company’s stock worth $77,060,000 after purchasing an additional 777,797 shares during the period. Woodline Partners LP acquired a new stake in FOX in the fourth quarter worth $27,271,000. Finally, Alliancebernstein L.P. grew its holdings in FOX by 91.1% in the fourth quarter. Alliancebernstein L.P. now owns 1,199,667 shares of the company’s stock worth $44,268,000 after purchasing an additional 571,987 shares during the period. Institutional investors own 56.94% of the company’s stock.

FOX Stock Down 0.6 %

FOXA opened at $33.33 on Friday. The company has a debt-to-equity ratio of 0.64, a current ratio of 3.73 and a quick ratio of 3.36. The company’s 50-day moving average is $33.43 and its 200 day moving average is $37.04. Fox Co. has a fifty-two week low of $31.33 and a fifty-two week high of $44.95. The firm has a market capitalization of $18.56 billion, a P/E ratio of 16.75, a PEG ratio of 0.75 and a beta of 0.90.

FOX (NASDAQ:FOXAGet Rating) last released its quarterly earnings results on Tuesday, May 10th. The company reported $0.81 earnings per share for the quarter, missing analysts’ consensus estimates of $0.85 by ($0.04). FOX had a net margin of 8.33% and a return on equity of 13.84%. The firm had revenue of $3.46 billion for the quarter, compared to the consensus estimate of $3.39 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue for the quarter was up 7.5% on a year-over-year basis. Research analysts expect that Fox Co. will post 2.74 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

FOXA has been the subject of a number of research reports. Moffett Nathanson reduced their price target on shares of FOX to $46.00 in a report on Friday, July 22nd. Rosenblatt Securities initiated coverage on shares of FOX in a report on Tuesday, April 19th. They issued a “neutral” rating and a $38.00 price target for the company. Deutsche Bank Aktiengesellschaft reduced their price target on shares of FOX from $48.00 to $46.00 in a report on Wednesday, May 25th. The Goldman Sachs Group reduced their price objective on shares of FOX from $32.00 to $30.00 and set a “sell” rating for the company in a report on Tuesday, July 26th. Finally, Wolfe Research cut shares of FOX from an “outperform” rating to a “peer perform” rating and reduced their price objective for the company from $52.00 to $39.00 in a report on Thursday, June 2nd. One equities research analyst has rated the stock with a sell rating, five have issued a hold rating and four have issued a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.22.

FOX Company Profile

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Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through three segments: Cable Network Programming; Television; and Other, Corporate and Eliminations. 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 multi-channel video programming distributors.

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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