PNC Financial Services Group Inc. Trims Holdings in Fox Co. (NASDAQ:FOXA)

PNC Financial Services Group Inc. trimmed its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 32.5% during the 3rd quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 739,322 shares of the company's stock after selling 355,266 shares during the quarter. PNC Financial Services Group Inc. owned approximately 0.16% of FOX worth $31,295,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also recently modified their holdings of FOXA. Vanguard Group Inc. grew its stake in FOX by 5.9% in the first quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company's stock worth $934,354,000 after purchasing an additional 1,653,913 shares in the last quarter. Independent Franchise Partners LLP grew its position in shares of FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company's stock worth $635,706,000 after buying an additional 597,450 shares in the last quarter. LSV Asset Management increased its stake in shares of FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company's stock valued at $294,816,000 after buying an additional 481,267 shares during the period. Dimensional Fund Advisors LP raised its holdings in shares of FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company's stock valued at $129,180,000 after acquiring an additional 268,778 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its stake in FOX by 25.5% in the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company's stock worth $83,208,000 after acquiring an additional 492,467 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Price Performance

Shares of NASDAQ FOXA opened at $45.70 on Thursday. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The business's 50 day moving average price is $42.58 and its 200 day moving average price is $38.48. 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 cap of $20.87 billion, a P/E ratio of 11.17, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last released 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 net margin of 13.40% and a return on equity of 16.49%. The business 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 business'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 year.

Analysts Set New Price Targets

Several equities research analysts have recently commented on the stock. Loop Capital boosted their price target on shares of FOX from $43.00 to $46.00 and gave the company a "buy" rating in a report on Tuesday, October 8th. Evercore ISI upgraded FOX to a "hold" rating in a report on Tuesday, November 5th. Barclays upped their price objective on FOX from $36.00 to $39.00 and gave the stock an "equal weight" rating in a research note on Wednesday, October 9th. Cfra reiterated a "sell" rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Macquarie reissued a "neutral" rating and set a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the company's stock. According to MarketBeat.com, the company currently has a consensus rating of "Hold" and an average price target of $44.00.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business's stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction 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. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the company's 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 sale, the chief operating officer now directly owns 249,424 shares of the company's stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Company 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.