Retirement Systems of Alabama Sells 306,580 Shares of Fox Co. (NASDAQ:FOXA)

Retirement Systems of Alabama lowered its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 31.8% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 658,486 shares of the company's stock after selling 306,580 shares during the quarter. Retirement Systems of Alabama owned approximately 0.14% of FOX worth $27,874,000 as of its most recent filing with the SEC.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Quest Partners LLC acquired a new stake in shares of FOX during the third quarter worth $51,000. Duncker Streett & Co. Inc. acquired a new stake in FOX in the 2nd quarter worth about $52,000. Quarry LP acquired a new stake in FOX in the 3rd quarter worth about $70,000. Transamerica Financial Advisors Inc. purchased a new stake in FOX in the 3rd quarter valued at about $119,000. Finally, Exchange Traded Concepts LLC acquired a new position in shares of FOX during the 3rd quarter valued at about $141,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the stock in a transaction on 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock valued at $20,822,072 over the last quarter. 21.77% of the stock is owned by company insiders.

Analyst Ratings Changes

A number of equities research analysts recently issued reports on FOXA shares. Seaport Res Ptn downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a report on Monday, September 9th. Morgan Stanley boosted their price objective on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research note on Friday, November 1st. Deutsche Bank Aktiengesellschaft increased their target price on FOX from $42.00 to $47.00 and gave the stock a "buy" rating in a research report on Tuesday, November 5th. Cfra reissued a "sell" rating on shares of FOX in a research report on Wednesday, September 25th. Finally, StockNews.com upgraded FOX from a "hold" rating to a "buy" rating in a report on Friday, December 6th. One analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the stock currently has a consensus rating of "Hold" and an average target price of $44.00.

FOX Stock Down 0.5 %

NASDAQ:FOXA traded down $0.26 on Friday, reaching $47.08. The stock had a trading volume of 2,063,172 shares, compared to its average volume of 3,092,839. The stock has a market cap of $21.50 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.67. The company has a 50-day moving average of $44.42 and a 200 day moving average of $40.04.

FOX (NASDAQ:FOXA - Get Free Report) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping analysts' consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the previous year, the company earned $1.09 earnings per share. The business's revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Fox Co. will post 3.94 earnings per share for the current year.

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.