Wellington Management Group LLP Sells 57,819 Shares of Fox Co. (NASDAQ:FOXA)

Wellington Management Group LLP cut its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 28.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 142,479 shares of the company's stock after selling 57,819 shares during the period. Wellington Management Group LLP's holdings in FOX were worth $6,031,000 at the end of the most recent reporting period.

Other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC bought a new stake in FOX in the third quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new position in FOX in the second quarter valued at about $52,000. Quarry LP bought a new stake in FOX during the third quarter worth about $70,000. Transamerica Financial Advisors Inc. acquired a new position in shares of FOX in the 3rd quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in FOX during the 3rd quarter worth approximately $141,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's 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 legal filing with the SEC, which is available through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm's stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company's stock, valued at $10,907,311.52. The trade was 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 over the last three months. Corporate insiders own 21.77% of the company's stock.

FOX Stock Up 4.3 %

FOXA stock traded up $2.01 during mid-day trading on Tuesday, hitting $49.07. 6,273,535 shares of the company were exchanged, compared to its average volume of 3,114,021. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a 1-year low of $28.28 and a 1-year high of $49.30. The firm's 50 day simple moving average is $44.53 and its 200 day simple moving average is $40.22. The firm has a market cap of $22.41 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data 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 analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm's quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. On average, sell-side analysts predict that Fox Co. will post 3.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

A number of equities analysts have commented on FOXA shares. Macquarie reissued a "neutral" rating and issued a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Evercore ISI raised shares of FOX to a "hold" rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Wells Fargo & Company boosted their target price on FOX from $46.00 to $49.00 and gave the stock an "overweight" rating in a research report on Tuesday, November 5th. Finally, Guggenheim lifted their price objective on FOX from $45.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. 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 company's stock. Based on data from MarketBeat, FOX presently has a consensus rating of "Hold" and an average price target of $44.00.

FOX 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.