Fmr LLC Buys 45,531 Shares of Fox Co. (NASDAQ:FOXA)

Fmr LLC grew its stake in Fox Co. (NASDAQ:FOXA) by 9.0% in the 3rd quarter, Holdings Channel.com reports. The fund owned 554,019 shares of the company’s stock after purchasing an additional 45,531 shares during the quarter. Fmr LLC’s holdings in FOX were worth $23,452,000 as of its most recent SEC filing.

Other hedge funds also recently modified their holdings of the company. Independent Franchise Partners LLP grew its holdings in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares during the period. LSV Asset Management boosted its holdings in shares of FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after acquiring an additional 481,267 shares during the period. Pacer Advisors Inc. boosted its holdings in shares of FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after acquiring an additional 7,897,710 shares during the period. Dimensional Fund Advisors LP boosted its holdings in shares of FOX by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after acquiring an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. boosted its holdings in shares of FOX by 25.5% during 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 period. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

FOXA has been the subject of a number of research analyst reports. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Macquarie reiterated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Morgan Stanley raised their target price on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Bank of America raised their price objective on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Stock Down 1.6 %

FOX stock opened at $46.23 on Tuesday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The firm’s fifty day moving average is $44.04 and its 200 day moving average is $39.77. The company has a market capitalization of $21.12 billion, a PE ratio of 11.30, a PEG ratio of 1.21 and a beta of 0.77.

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

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

FOX 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.