Greystone Financial Group LLC Cuts Stock Position in Fox Co. (NASDAQ:FOXA)

Greystone Financial Group LLC trimmed its position in Fox Co. (NASDAQ:FOXA) by 21.9% during the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 161,112 shares of the company’s stock after selling 45,206 shares during the period. FOX makes up about 1.7% of Greystone Financial Group LLC’s holdings, making the stock its 29th biggest position. Greystone Financial Group LLC’s holdings in FOX were worth $9,119,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. CIBC Private Wealth Group LLC lifted its stake in shares of FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the period. Asset Management One Co. Ltd. lifted its position in FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after purchasing an additional 23,704 shares during the period. Proficio Capital Partners LLC acquired a new stake in FOX in the fourth quarter valued at about $7,767,000. Captrust Financial Advisors purchased a new stake in FOX in the 4th quarter valued at approximately $306,000. Finally, Man Group plc acquired a new position in FOX during the 4th quarter worth approximately $3,239,000. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CFO Steven Tomsic sold 5,607 shares of the business’s stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer now directly owns 133,923 shares of the company’s stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Corporate insiders own 21.77% of the company’s stock.

FOX Trading Up 1.0%

Shares of FOX stock opened at $54.37 on Monday. Fox Co. has a fifty-two week low of $32.76 and a fifty-two week high of $58.74. The business’s fifty day moving average is $51.76 and its two-hundred day moving average is $51.43. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a market cap of $24.45 billion, a PE ratio of 11.64, a P/E/G ratio of 1.27 and a beta of 0.51.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping the consensus estimate of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. During the same period in the prior year, the business posted $1.40 earnings per share. The firm’s revenue for the quarter was up 26.8% compared to the same quarter last year. Analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on FOXA. Cowen reissued a “hold” rating on shares of FOX in a report on Tuesday, May 13th. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Wells Fargo & Company increased their target price on shares of FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a report on Tuesday, May 13th. Loop Capital upped their price target on FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. Finally, Wolfe Research downgraded FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price objective for the company. in a research note on Monday, April 7th. Two research analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus target price of $52.71.

About FOX

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.