Cerity Partners LLC Raises Position in Fox Co. (NASDAQ:FOXA)

Cerity Partners LLC grew its holdings in shares of Fox Co. (NASDAQ:FOXA) by 98.3% in the third quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 34,198 shares of the company’s stock after acquiring an additional 16,950 shares during the quarter. Cerity Partners LLC’s holdings in FOX were worth $1,448,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Pacer Advisors Inc. boosted its stake in shares of FOX by 44,205.3% in the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after purchasing an additional 7,897,710 shares in the last quarter. Retirement Systems of Alabama boosted its stake in shares of FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares in the last quarter. AXA S.A. boosted its position in shares of FOX by 294.2% during the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after purchasing an additional 663,089 shares in the last quarter. Independent Franchise Partners LLP lifted its holdings in shares of 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. Finally, 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 worth $83,208,000 after acquiring an additional 492,467 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

FOX stock opened at $46.41 on Wednesday. The company has a market cap of $21.20 billion, a PE ratio of 11.35, a price-to-earnings-growth ratio of 1.20 and a beta of 0.77. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company’s 50-day moving average price is $43.70 and its 200-day moving average price is $39.38. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the business earned $1.09 EPS. On average, equities research analysts forecast that Fox Co. will post 3.94 EPS for the current fiscal year.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last ninety days, insiders sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is currently owned by company insiders.

Analysts Set New Price Targets

FOXA has been the subject of a number of research analyst reports. Macquarie reissued a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Loop Capital boosted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Evercore ISI upgraded shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Bank of America increased their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Finally, The Goldman Sachs Group increased their target price on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus target price of $44.00.

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.