Salem Investment Counselors Inc. Purchases 1,000 Shares of Fox Co. (NASDAQ:FOXA)

Salem Investment Counselors Inc. grew its position in Fox Co. (NASDAQ:FOXA) by 240.4% during the first quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 1,416 shares of the company’s stock after buying an additional 1,000 shares during the period. Salem Investment Counselors Inc.’s holdings in FOX were worth $80,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of the company. Fort Washington Investment Advisors Inc. OH grew its stake in shares of FOX by 6.7% during the first quarter. Fort Washington Investment Advisors Inc. OH now owns 741,830 shares of the company’s stock worth $41,988,000 after acquiring an additional 46,289 shares during the last quarter. Fifth Third Bancorp grew its position in shares of FOX by 7.9% during the 1st quarter. Fifth Third Bancorp now owns 10,077 shares of the company’s stock valued at $570,000 after acquiring an additional 734 shares during the period. Simon Quick Advisors LLC purchased a new stake in FOX in the 1st quarter worth $432,000. CX Institutional purchased a new position in shares of FOX in the first quarter valued at approximately $239,000. Finally, MV Capital Management Inc. boosted its position in FOX by 929.9% during the first quarter. MV Capital Management Inc. now owns 690 shares of the company’s stock worth $39,000 after acquiring an additional 623 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the subject of a number of research reports. Guggenheim reaffirmed a “buy” rating and issued a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. Morgan Stanley raised their target price on FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Wells Fargo & Company raised their price target on FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a research note on Tuesday, May 13th. Wolfe Research cut shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price for the company. in a report on Monday, April 7th. Finally, Barclays reiterated an “outperform” rating on shares of FOX in a research note on Tuesday, May 13th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and nine have given a buy rating to the company’s stock. According to MarketBeat, FOX has a consensus rating of “Hold” and an average price target of $52.71.

Insider Activity

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

FOX Stock Down 0.2%

Shares of NASDAQ FOXA opened at $53.69 on Friday. The firm’s 50-day moving average is $52.09 and its two-hundred day moving average is $51.66. The company has a market capitalization of $24.14 billion, a PE ratio of 11.50, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. Fox Co. has a 12-month low of $32.76 and a 12-month high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

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

FOX 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.