National Bank of Canada FI lessened its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 21.5% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 49,912 shares of the company's stock after selling 13,697 shares during the period. National Bank of Canada FI's holdings in FOX were worth $2,113,000 as of its most recent SEC filing.
Several other large investors have also recently bought and sold shares of the company. Crossmark Global Holdings Inc. boosted its stake in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock valued at $991,000 after acquiring an additional 385 shares during the last quarter. Raymond James Trust N.A. grew its stake in shares of FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company's stock worth $333,000 after purchasing an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock valued at $1,249,000 after purchasing an additional 451 shares during the last quarter. Verdence Capital Advisors LLC lifted its stake in FOX by 3.5% in the second quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company's stock valued at $461,000 after buying an additional 458 shares during the period. Finally, US Bancorp DE boosted its holdings in FOX by 4.0% during the third quarter. US Bancorp DE now owns 14,239 shares of the company's stock worth $603,000 after buying an additional 550 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.
Insider Transactions at FOX
In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm's stock in a transaction dated 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 in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the business's stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value 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 position. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last 90 days. Corporate insiders own 21.77% of the company's stock.
Analyst Ratings Changes
A number of analysts recently weighed in on FOXA shares. UBS Group increased their price target on shares of FOX from $44.00 to $50.00 and gave the company a "buy" rating in a research report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft increased their target price on shares of FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a report on Tuesday, November 5th. Morgan Stanley boosted their price target on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Guggenheim raised their price objective on FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research note on Tuesday, November 5th. Finally, Bank of America boosted their target price on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a research note on Wednesday, September 25th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of "Hold" and a consensus price target of $44.00.
View Our Latest Research Report on FOX
FOX Stock Down 0.5 %
NASDAQ:FOXA traded down $0.26 on Friday, hitting $47.08. 2,063,172 shares of the company's stock were exchanged, compared to its average volume of 3,092,839. The firm has a 50-day moving average price of $44.42 and a 200-day moving average price of $40.04. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.67. 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 cap of $21.50 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.
FOX (NASDAQ:FOXA - Get Free Report) 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. The business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the business earned $1.09 earnings per share. As a group, analysts expect that Fox Co. will post 3.94 EPS for the current fiscal year.
FOX Company Profile
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Free Report)
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.
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