Franklin Resources Inc. grew its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 108.4% in the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 177,342 shares of the company's stock after purchasing an additional 92,244 shares during the quarter. Franklin Resources Inc.'s holdings in FOX were worth $7,369,000 at the end of the most recent reporting period.
A number of other institutional investors have also recently made changes to their positions in the business. Quest Partners LLC purchased a new stake in FOX during the 3rd quarter worth about $51,000. Duncker Streett & Co. Inc. acquired a new position in shares of FOX during the second quarter worth about $52,000. Quarry LP purchased a new stake in shares of FOX during the third quarter worth approximately $70,000. Transamerica Financial Advisors Inc. acquired a new stake in FOX in the third quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in FOX in the third quarter worth approximately $141,000. Institutional investors and hedge funds own 52.52% of the company's stock.
Wall Street Analyst Weigh In
A number of equities research analysts have commented on the stock. TD Cowen increased their price objective on shares of FOX from $36.00 to $42.00 and gave the company a "hold" rating in a research report on Tuesday, November 5th. StockNews.com lowered FOX from a "buy" rating to a "hold" rating in a report on Tuesday, December 17th. Citigroup lifted their price target on FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a report on Wednesday, December 18th. Macquarie reiterated a "neutral" rating and issued a $43.00 price objective on shares of FOX in a report on Tuesday, November 5th. Finally, UBS Group raised their target price on FOX from $44.00 to $50.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, FOX has a consensus rating of "Hold" and an average target price of $46.87.
Read Our Latest Analysis on FOX
Insider Buying and Selling at FOX
In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company's stock in a transaction 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 completion of 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 position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated 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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last ninety days, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by insiders.
FOX Stock Performance
NASDAQ:FOXA traded down $0.08 during trading hours on Monday, reaching $49.45. 2,306,585 shares of the company's stock were exchanged, compared to its average volume of 3,169,225. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a market capitalization of $22.59 billion, a price-to-earnings ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77. Fox Co. has a 1-year low of $28.28 and a 1-year high of $50.63. The company has a 50-day moving average of $45.14 and a 200 day moving average of $40.64.
FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during 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 business's quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the firm earned $1.09 earnings per share. Research analysts anticipate that Fox Co. will post 3.94 EPS for the current year.
FOX Company Profile
(
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.
Further Reading
Before you consider FOX, you'll want to hear this.
MarketBeat keeps track of Wall Street's top-rated and best performing research analysts and the stocks they recommend to their clients on a daily basis. MarketBeat has identified the five stocks that top analysts are quietly whispering to their clients to buy now before the broader market catches on... and FOX wasn't on the list.
While FOX currently has a "Hold" rating among analysts, top-rated analysts believe these five stocks are better buys.
View The Five Stocks Here
Wondering where to start (or end) with AI stocks? These 10 simple stocks can help investors build long-term wealth as artificial intelligence continues to grow into the future.
Get This Free Report
Like this article? Share it with a colleague.
Link copied to clipboard.
