Commerce Bank Purchases Shares of 7,116 Fox Co. (NASDAQ:FOXA)

Commerce Bank acquired a new position in shares of Fox Co. (NASDAQ:FOXA) in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor acquired 7,116 shares of the company’s stock, valued at approximately $301,000.

Several other hedge funds also recently modified their holdings of FOXA. Independent Franchise Partners LLP boosted its position in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares during the last quarter. LSV Asset Management raised its stake in shares of FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after purchasing an additional 481,267 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in shares of FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares during the last quarter. D. E. Shaw & Co. Inc. grew its stake in shares of FOX by 25.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after buying an additional 492,467 shares in the last quarter. Finally, Thompson Siegel & Walmsley LLC increased its holdings in FOX by 2.8% during the second quarter. Thompson Siegel & Walmsley LLC now owns 1,579,272 shares of the company’s stock worth $54,280,000 after buying an additional 42,424 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

A number of analysts have commented on FOXA shares. Morgan Stanley increased their price target on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Guggenheim lifted their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays boosted their price target on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. UBS Group raised their price objective on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, Macquarie reissued a “neutral” rating and set a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat, the stock has a consensus rating of “Hold” and an average target price of $44.00.

FOX Trading Up 1.2 %

FOXA stock opened at $46.71 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company’s 50-day simple moving average is $43.24 and its 200 day simple moving average is $38.95. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a market capitalization of $21.33 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company posted $1.09 earnings per share. FOX’s revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last quarter. 21.77% of the stock is owned by company insiders.

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.