Illinois Municipal Retirement Fund Buys 141,388 Shares of Fox Corporation $FOXA

Illinois Municipal Retirement Fund acquired a new stake in Fox Corporation (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent 13F filing with the SEC. The firm acquired 141,388 shares of the company’s stock, valued at approximately $8,858,000.

Several other hedge funds and other institutional investors have also made changes to their positions in the company. MassMutual Private Wealth & Trust FSB bought a new position in shares of FOX in the 3rd quarter valued at about $44,000. PFS Partners LLC acquired a new position in FOX during the third quarter worth approximately $44,000. Elevation Wealth Partners LLC increased its position in FOX by 811.0% during the third quarter. Elevation Wealth Partners LLC now owns 911 shares of the company’s stock worth $57,000 after buying an additional 811 shares during the last quarter. Pinnacle Wealth Planning Services Inc. raised its stake in FOX by 75.7% in the third quarter. Pinnacle Wealth Planning Services Inc. now owns 1,056 shares of the company’s stock valued at $66,000 after buying an additional 455 shares during the period. Finally, Covestor Ltd raised its stake in FOX by 99.1% in the third quarter. Covestor Ltd now owns 1,105 shares of the company’s stock valued at $69,000 after buying an additional 550 shares during the period. 52.52% of the stock is owned by institutional investors.

Insider Activity

In other FOX news, CEO Lachlan Murdoch purchased 149,934 shares of the firm’s stock in a transaction that occurred on Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the purchase, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at approximately $96,059,391.89. The trade was a 11.98% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 20.89% of the company’s stock.

FOX Trading Down 3.3%

Shares of FOXA stock opened at $65.71 on Friday. The firm has a 50 day moving average price of $64.86 and a two-hundred day moving average price of $62.06. The company has a quick ratio of 3.50, a current ratio of 3.79 and a debt-to-equity ratio of 0.53. The company has a market capitalization of $27.72 billion, a PE ratio of 10.51, a price-to-earnings-growth ratio of 1.12 and a beta of 0.63. Fox Corporation has a 12-month low of $48.34 and a 12-month high of $76.39.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.02 by $0.52. FOX had a return on equity of 23.96% and a net margin of 11.30%. The company had revenue of $4.57 billion during the quarter, compared to analysts’ expectations of $4.32 billion. During the same quarter in the previous year, the company posted $1.51 earnings per share. The business’s revenue was up 22.3% on a year-over-year basis. As a group, analysts predict that Fox Corporation will post 6.02 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have recently commented on FOXA. JPMorgan Chase & Co. lifted their target price on FOX from $82.00 to $83.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 3rd. Jefferies Financial Group cut FOX to a “hold” rating in a research note on Friday, October 16th. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Monday, October 19th. Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, October 26th. Finally, Moffett Nathanson increased their price objective on shares of FOX from $65.00 to $70.00 and gave the company a “neutral” rating in a research report on Wednesday, September 23rd. Two equities research analysts have rated the stock with a Strong Buy rating, thirteen have assigned a Buy rating and eleven have assigned a Hold rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Moderate Buy” and an average target price of $79.16.

About FOX

Fox Corporation is a media company focused primarily on news, sports and entertainment for audiences in the United States. Its businesses include Fox News Media, Fox Sports and Fox Entertainment, which produce and distribute television programming, news coverage, live sports and entertainment content. The company also operates the Fox broadcast network and local television stations, and offers streaming services including Tubi, an ad-supported streaming platform, and Fox Nation, a subscription service.