DJE Kapital AG Increases Stake in Fox Corporation $FOXA

DJE Kapital AG raised its holdings in shares of Fox Corporation (NASDAQ:FOXA) by 25.5% during the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 504,443 shares of the company’s stock after acquiring an additional 102,472 shares during the quarter. DJE Kapital AG owned approximately 0.11% of FOX worth $28,509,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently modified their holdings of FOXA. CSM Advisors LLC purchased a new position in FOX during the second quarter valued at $25,787,000. Andra AP fonden raised its stake in shares of FOX by 19.2% in the second quarter. Andra AP fonden now owns 920,800 shares of the company’s stock worth $51,602,000 after buying an additional 148,400 shares during the period. First Horizon Advisors Inc. raised its stake in shares of FOX by 1,709.8% in the second quarter. First Horizon Advisors Inc. now owns 2,389 shares of the company’s stock worth $134,000 after buying an additional 2,257 shares during the period. Bank of New York Mellon Corp lifted its position in shares of FOX by 2.6% during the 2nd quarter. Bank of New York Mellon Corp now owns 1,908,218 shares of the company’s stock valued at $106,937,000 after buying an additional 47,475 shares in the last quarter. Finally, Amalgamated Bank grew its stake in shares of FOX by 0.9% during the 2nd quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock valued at $2,393,000 after acquiring an additional 360 shares during the period. Institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 168,756 shares of FOX stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, Director Paul D. Ryan sold 17,767 shares of the company’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 SEC filing for this sale provides additional information. 19.68% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent analyst reports. Wells Fargo & Company raised their target price on shares of FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a research note on Friday, October 31st. Fox Advisors set a $97.00 price objective on shares of FOX in a research report on Tuesday, October 28th. Arete upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 target price on the stock in a research note on Tuesday, October 28th. Morgan Stanley set a $70.00 target price on shares of FOX in a report on Friday, October 31st. Finally, UBS Group increased their price target on FOX from $65.00 to $76.00 and gave the stock a “buy” rating in a research note on Friday, October 31st. Two investment analysts have rated the stock with a Strong Buy rating, nine have assigned a Buy rating and eight have issued a Hold rating to the company. According to data from MarketBeat, FOX presently has a consensus rating of “Moderate Buy” and an average price target of $69.94.

FOX Stock Performance

FOXA opened at $65.97 on Friday. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The stock has a market capitalization of $29.39 billion, a price-to-earnings ratio of 14.82, a PEG ratio of 1.48 and a beta of 0.52. The company has a fifty day moving average of $60.63 and a 200 day moving average of $57.01. Fox Corporation has a fifty-two week low of $44.15 and a fifty-two week high of $66.64.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business’s quarterly revenue was up 4.9% compared to the same quarter last year. During the same quarter in the previous year, the company earned $1.45 EPS. As a group, sell-side analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

FOX Company Profile

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.