A significant shift in the financial landscape for Fox Corporation (NASDAQ:FOXA) has emerged, as banking giant Banco Santander S.A. substantially reduced its investment in the media conglomerate. This strategic divestiture, involving a notable 40.4% cut in its stake during the first quarter, signals a noteworthy adjustment in one of the company’s major institutional holdings, drawing keen interest from market observers and investors alike.
Reports indicate that Banco Santander S.A. divested 153,846 shares of Fox Corporation stock, leaving their total ownership at 227,370 shares. This transaction significantly altered their exposure to the media giant, with their remaining holdings in FOX valued at an estimated $12,869,000 as per their most recent Securities and Exchange Commission (SEC) filing. This substantial sale underscores a re-evaluation of portfolio allocation by the prominent financial institution.
Beyond Banco Santander, several other influential hedge funds and institutional investors have recently recalibrated their positions in FOXA. CIBC Private Wealth Group LLC, for instance, dramatically increased its stake by an impressive 122.3% in the fourth quarter, accumulating an additional 368 shares to reach a total of 669 shares, valued at $33,000. Similarly, MV Capital Management Inc. demonstrated a robust bullish sentiment, boosting its holdings by an astounding 929.9% in the first quarter, acquiring 623 new shares to own a total of 690 shares, valued at $39,000.
Further institutional activities include Sentry Investment Management LLC acquiring a new stake in FOX, valued at approximately $43,000 in the first quarter, highlighting new entrants into the stock’s ownership. Allworth Financial LP also expressed confidence, lifting its position by 55.2% in the first quarter, bringing its total to 787 shares worth $45,000. TCTC Holdings LLC mirrored this trend with a 112.5% boost in its first-quarter holdings, now owning 797 shares valued at $45,000. Collectively, these movements demonstrate that 52.52% of Fox Corporation’s stock is currently held by institutional investors and hedge funds, reflecting significant market confidence and strategic positioning.
Equities analysts have also been actively reassessing their outlooks on Fox Corporation, providing a mixed but generally optimistic consensus. Wolfe Research upgraded FOX from an “underperform” to a “peer perform” rating, reflecting an improved sentiment. Bank of America and Guggenheim both raised their price targets, setting them at $65.00 and $62.00 respectively, maintaining “buy” ratings. Loop Capital similarly increased its target to $64.00 with a “buy” rating. However, Cfra Research recently downgraded shares from a “moderate buy” to a “hold” rating, contributing to a diverse analytical landscape. Overall, MarketBeat data indicates an average “Hold” rating for FOX with an average target price of $53.53, suggesting cautious optimism among experts.
From a market performance standpoint, shares of Fox Corporation opened at $55.54 on a recent Friday, demonstrating stability. The company’s financial health is underpinned by a robust quick ratio of 2.33, a current ratio of 2.45, and a manageable debt-to-equity ratio of 0.57. With a significant market capitalization of $24.97 billion, a P/E ratio of 13.82, and a P/E/G ratio of 1.25, the stock presents a compelling valuation. Its beta of 0.54 indicates lower volatility compared to the broader market, making it an attractive prospect for investors seeking stability within their portfolios. The stock has traded within a 52-week range of $36.09 to $58.74, with its fifty-day simple moving average at $55.44 and its 200-day simple moving average at $53.46, indicating a steady upward trend over time.
The company’s latest quarterly earnings report on Monday, May 12th, showcased strong financial performance, with Fox Corporation reporting an earnings per share (EPS) of $1.10, surpassing the consensus estimate of $0.93 by a notable $0.17. Revenue for the quarter reached $4.37 billion, exceeding analysts’ expectations of $4.14 billion. This robust performance is further highlighted by an 11.58% net margin and a strong return on equity of 17.99%, with revenue growing by 26.8% compared to the same quarter last year. Analysts collectively project Fox Corporation to post 4.38 earnings per share for the current fiscal year, underscoring continued positive outlooks for its financial trajectory.
Further internal movements within Fox Corporation have also been reported, with the CFO selling 5,607 shares of the business’s stock on Wednesday, June 4th, at an average price of $55.37, totaling $310,459.59. This transaction represented a 4.02% decrease in their direct ownership, leaving the chief financial officer with 133,923 shares valued at approximately $7,415,316.51. Such insider transactions are routinely disclosed in legal filings with the SEC, providing transparency into executive confidence and portfolio adjustments. Notably, insiders collectively own 21.77% of the company’s stock, aligning their interests closely with shareholder value and long-term corporate success.
Fox Corporation continues to operate as a multifaceted news, sports, and entertainment powerhouse across the United States. Its operational structure is diversified into four key segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment is particularly vital, focusing on the production and licensing of news and sports content for broad distribution across traditional cable television systems, direct broadcast satellite operators, telecommunication companies, and emerging virtual multi-channel video programming platforms, predominantly within the U.S. market, solidifying its dominant position in media content delivery.
