Geode Capital Management LLC Lowers Holdings in Fox Co. (NASDAQ:FOXA)

Geode Capital Management LLC reduced its stake in Fox Co. (NASDAQ:FOXA - Free Report) by 5.1% in the 3rd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 6,630,666 shares of the company's stock after selling 355,668 shares during the period. Geode Capital Management LLC owned 1.44% of FOX worth $280,027,000 as of its most recent SEC filing.

Other institutional investors have also recently made changes to their positions in the company. Independent Franchise Partners LLP increased its position 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 buying an additional 597,450 shares in the last quarter. LSV Asset Management grew its stake in FOX by 5.9% in the second quarter. LSV Asset Management now owns 8,577,714 shares of the company's stock valued at $294,816,000 after acquiring an additional 481,267 shares during the period. Pacer Advisors Inc. increased its holdings in shares of FOX by 44,205.3% during the third 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 in the last quarter. Dimensional Fund Advisors LP raised its position in shares of FOX by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company's stock worth $129,180,000 after purchasing an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. lifted its holdings in shares of FOX by 25.5% in the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock worth $83,208,000 after purchasing an additional 492,467 shares in the last quarter. Institutional investors and hedge funds own 52.52% of the company's stock.

FOX Stock Performance

FOXA traded down $0.26 during midday trading on Friday, reaching $47.08. The company had a trading volume of 2,063,172 shares, compared to its average volume of 3,092,839. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.67. The business has a 50-day moving average price of $44.42 and a two-hundred day moving average price of $40.13. The stock has a market cap of $21.50 billion, a PE ratio of 11.51, a P/E/G ratio of 1.18 and a beta of 0.77. 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 (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 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 business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. FOX's revenue for the quarter was up 11.1% on a year-over-year basis. On average, sell-side analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Wall Street Analysts Forecast Growth

A number of brokerages have commented on FOXA. Macquarie restated a "neutral" rating and set a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. 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 research report on Tuesday, October 8th. Barclays upped their target price on shares of FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a report on Wednesday, October 9th. Evercore ISI upgraded FOX to a "hold" rating in a research note on Tuesday, November 5th. Finally, TD Cowen raised their target price on FOX from $36.00 to $42.00 and gave the company a "hold" rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat.com, FOX currently has an average rating of "Hold" and a consensus target price of $44.00.

Insider Activity

In other FOX news, COO John Nallen sold 182,481 shares of the business's stock in a transaction 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 sale, 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 sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm's stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last 90 days. Insiders own 21.77% of the company's stock.

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.