Brookstone Capital Management Makes New Investment in Fox Co. (NASDAQ:FOXA)

Brookstone Capital Management purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the fourth quarter, according to its most recent disclosure with the SEC. The institutional investor purchased 10,121 shares of the company's stock, valued at approximately $492,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in the business. Czech National Bank raised its holdings in shares of FOX by 4.8% during the fourth quarter. Czech National Bank now owns 47,951 shares of the company's stock valued at $2,329,000 after acquiring an additional 2,189 shares during the period. CWA Asset Management Group LLC acquired a new stake in shares of FOX during the fourth quarter valued at approximately $1,427,000. GAMMA Investing LLC raised its holdings in shares of FOX by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 7,069 shares of the company's stock valued at $343,000 after acquiring an additional 1,564 shares during the period. Versant Capital Management Inc raised its holdings in shares of FOX by 3,551.1% during the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company's stock valued at $83,000 after acquiring an additional 1,669 shares during the period. Finally, JPMorgan Chase & Co. raised its holdings in shares of FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company's stock valued at $47,649,000 after acquiring an additional 110,753 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the 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 sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the 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 in the company, valued at approximately $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 worth $20,822,072 in the last quarter. 21.77% of the stock is owned by corporate insiders.

FOX Price Performance

Shares of FOXA stock traded down $0.32 during mid-day trading on Friday, reaching $48.00. The company's stock had a trading volume of 3,970,549 shares, compared to its average volume of 2,980,282. Fox Co. has a 1-year low of $28.28 and a 1-year high of $50.63. The company has a market cap of $21.92 billion, a P/E ratio of 11.74, a PEG ratio of 1.19 and a beta of 0.75. 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's 50-day moving average is $47.72 and its two-hundred day moving average is $42.63.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data 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 analysts' expectations of $3.38 billion. During the same quarter in the prior year, the company posted $1.09 EPS. The business's revenue was up 11.1% on a year-over-year basis. On average, research analysts predict that Fox Co. will post 4.08 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of research analyst reports. Wells Fargo & Company boosted their price objective on shares of FOX from $49.00 to $59.00 and gave the company an "underweight" rating in a research report on Friday, January 10th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $42.00 to $49.00 and gave the company a "neutral" rating in a research report on Tuesday. Barclays boosted their price objective on shares of FOX from $36.00 to $39.00 and gave the company an "equal weight" rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Finally, Bank of America boosted their target price on shares of FOX from $50.00 to $55.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Two research analysts have rated the stock with a sell rating, nine have issued a hold rating and seven have issued a buy rating to the company. According to MarketBeat.com, the company has a consensus rating of "Hold" and a consensus price target of $48.00.

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.