Fox Co. (NASDAQ:FOXA) Shares Sold by Swiss National Bank

Swiss National Bank lowered its stake in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 2.7% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 686,034 shares of the company's stock after selling 19,300 shares during the quarter. Swiss National Bank owned about 0.15% of FOX worth $29,040,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds and other institutional investors also recently modified their holdings of FOXA. Massmutual Trust Co. FSB ADV grew its holdings in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company's stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial purchased a new stake in FOX during the second quarter valued at approximately $51,000. Duncker Streett & Co. Inc. purchased a new stake in shares of FOX in the second quarter worth $52,000. Covestor Ltd grew its stake in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company's stock valued at $90,000 after acquiring an additional 2,128 shares in the last quarter. Finally, Bessemer Group Inc. grew its stake in FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company's stock valued at $103,000 after acquiring an additional 326 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Activity at FOX

In other FOX news, 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 of the company's stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale 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 dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at $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. 21.77% of the stock is owned by insiders.

FOX Stock Up 0.3 %

Shares of FOXA traded up $0.13 during midday trading on Thursday, hitting $45.83. 351,278 shares of the company's stock traded hands, compared to its average volume of 3,054,979. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58. The firm's fifty day moving average is $42.58 and its 200-day moving average is $38.48. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The stock has a market capitalization of $20.93 billion, a price-to-earnings ratio of 11.17, a price-to-earnings-growth ratio of 1.17 and a beta of 0.76.

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 the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm earned $1.09 EPS. The firm's revenue was up 11.1% on a year-over-year basis. As a group, sell-side analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

Wall Street Analysts Forecast Growth

FOXA has been the subject of several research reports. Rosenblatt Securities increased their price objective on shares of FOX from $37.00 to $38.00 and gave the company a "neutral" rating in a research report on Wednesday, August 7th. Evercore ISI upgraded shares of FOX to a "hold" rating in a report on Tuesday, November 5th. JPMorgan Chase & Co. raised their target price on shares of FOX from $41.00 to $42.00 and gave the stock a "neutral" rating in a report on Tuesday, November 5th. Bank of America raised their target price on shares of FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a report on Wednesday, September 25th. Finally, Seaport Res Ptn lowered shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. One 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. Based on data from MarketBeat, FOX has a consensus rating of "Hold" and an average target price of $44.00.

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.