Fox Co. (NASDAQ:FOXA) Shares Sold by Raymond James Trust N.A.

Raymond James Trust N.A. reduced its stake in shares of Fox Co. (NASDAQ:FOXA) by 31.2% during the third quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 6,664 shares of the company’s stock after selling 3,027 shares during the quarter. Raymond James Trust N.A.’s holdings in FOX were worth $282,000 at the end of the most recent reporting period.

Several other institutional investors have also bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV raised its position in shares of FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX during the second quarter valued at approximately $51,000. Quest Partners LLC bought a new stake in FOX during the third quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the second quarter worth approximately $52,000. Finally, GAMMA Investing LLC lifted its position in FOX by 97.6% in the second quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock worth $115,000 after purchasing an additional 1,647 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, 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 disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 over the last 90 days. 21.77% of the stock is currently owned by corporate insiders.

FOX Stock Performance

FOXA stock opened at $46.71 on Thursday. The stock has a market cap of $21.33 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76. 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 firm has a 50 day simple moving average of $43.24 and a 200 day simple moving average of $38.95. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58.

FOX (NASDAQ:FOXA) last issued 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 during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $1.09 EPS. The company’s revenue for the quarter was up 11.1% on a year-over-year basis. Research analysts anticipate that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

A number of analysts have recently commented on the company. TD Cowen boosted their price objective on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. Guggenheim raised their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, The Goldman Sachs Group raised their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One research 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 MarketBeat, FOX currently has an average rating of “Hold” and a consensus price target of $44.00.

About FOX

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.