Fmr LLC Boosts Holdings in Fox Co. (NASDAQ:FOXA)

FMR LLC increased its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 9.0% during the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 554,019 shares of the company's stock after purchasing an additional 45,531 shares during the period. FMR LLC owned 0.12% of FOX worth $23,452,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently modified their holdings of the company. Pacer Advisors Inc. increased its holdings in 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 acquiring an additional 7,897,710 shares during the last quarter. Retirement Systems of Alabama increased its holdings in FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company's stock valued at $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. increased its holdings in FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company's stock valued at $30,537,000 after acquiring an additional 663,089 shares during the last quarter. Independent Franchise Partners LLP increased its holdings in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock valued at $635,706,000 after acquiring an additional 597,450 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in FOX by 25.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock valued at $83,208,000 after acquiring an additional 492,467 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Trading Up 0.3 %

FOXA stock traded up $0.14 during mid-day trading on Tuesday, reaching $46.37. The company had a trading volume of 4,985,484 shares, compared to its average volume of 3,092,124. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The company has a market capitalization of $21.18 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The firm has a 50 day moving average of $44.04 and a 200 day moving average of $39.77. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58.

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

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred 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 directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 in the last three months. Corporate insiders own 21.77% of the company's stock.

Wall Street Analysts Forecast Growth

A number of research firms have recently weighed in on FOXA. Macquarie restated a "neutral" rating and issued a $43.00 target price on shares of FOX in a 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. The Goldman Sachs Group boosted 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. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a "hold" rating in a report on Tuesday, November 5th. Finally, Loop Capital boosted their target price on shares of FOX from $43.00 to $46.00 and gave the stock a "buy" rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, FOX 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.