California State Teachers Retirement System Has $23.42 Million Holdings in Fox Corporation $FOXA

California State Teachers Retirement System cut its position in shares of Fox Corporation (NASDAQ:FOXA) by 4.0% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 400,990 shares of the company’s stock after selling 16,911 shares during the period. California State Teachers Retirement System’s holdings in FOX were worth $23,418,000 as of its most recent SEC filing.

Several other institutional investors have also made changes to their positions in FOXA. Handelsbanken Fonder AB increased its holdings in FOX by 85.3% in the fourth quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock worth $6,431,000 after buying an additional 40,515 shares during the last quarter. Livforsakringsbolaget Skandia Omsesidigt lifted its stake in FOX by 9.9% in the first quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company’s stock valued at $16,755,000 after acquiring an additional 25,900 shares during the last quarter. Geode Capital Management LLC lifted its stake in FOX by 0.5% in the fourth quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock valued at $476,248,000 after acquiring an additional 29,923 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new stake in FOX in the fourth quarter worth approximately $67,467,000. Finally, Strs Ohio grew its position in FOX by 7.6% in the fourth quarter. Strs Ohio now owns 332,444 shares of the company’s stock worth $24,292,000 after acquiring an additional 23,475 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Trading Down 1.0%

FOX stock opened at $58.23 on Friday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The business’s 50-day simple moving average is $57.92 and its 200-day simple moving average is $61.14. The firm has a market capitalization of $24.47 billion, a PE ratio of 15.36, a PEG ratio of 1.65 and a beta of 0.54. Fox Corporation has a 52 week low of $48.34 and a 52 week high of $76.39.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating the consensus estimate of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion during the quarter, compared to the consensus estimate of $3.78 billion. During the same quarter in the prior year, the company earned $1.10 EPS. The firm’s revenue for the quarter was down 8.6% compared to the same quarter last year. Equities research analysts forecast that Fox Corporation will post 4.96 earnings per share for the current year.

Wall Street Analyst Weigh In

Several research analysts have recently commented on FOXA shares. JPMorgan Chase & Co. increased their price target on shares of FOX from $69.00 to $70.00 and gave the stock a “neutral” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and issued a $79.00 price objective on shares of FOX in a research note on Tuesday, May 12th. Seaport Research Partners reiterated a “buy” rating and issued a $61.00 price objective on shares of FOX in a report on Tuesday, June 16th. Zacks Research raised shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Wednesday, May 13th. Finally, Evercore set a $73.00 target price on FOX in a report on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has assigned a Sell rating to the stock. According to MarketBeat, the company has a consensus rating of “Moderate Buy” and a consensus price target of $73.56.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.