Vestcor Inc Decreases Holdings in Fox Co. (NASDAQ:FOXA)

Vestcor Inc decreased its position in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 95.4% in the third quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The fund owned 4,786 shares of the company's stock after selling 100,000 shares during the period. Vestcor Inc's holdings in FOX were worth $203,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors also recently bought and sold shares of the company. Independent Franchise Partners LLP raised its stake in FOX by 3.3% in the second 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 during the last quarter. LSV Asset Management raised its holdings in shares of FOX by 5.9% in the second quarter. LSV Asset Management now owns 8,577,714 shares of the company's stock worth $294,816,000 after buying an additional 481,267 shares during the last quarter. Pacer Advisors Inc. lifted its stake 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 worth $335,066,000 after buying an additional 7,897,710 shares during the period. Dimensional Fund Advisors LP grew its holdings 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 valued at $129,180,000 after buying an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its position 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 valued at $83,208,000 after acquiring an additional 492,467 shares during the period. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was 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 directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company's stock in a transaction dated 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. In the last ninety days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by company insiders.

FOX Price Performance

Shares of FOXA stock traded down $0.26 during trading hours 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 company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a market capitalization of $21.50 billion, a price-to-earnings ratio of 11.51, a PEG ratio of 1.18 and a beta of 0.77. The stock has a fifty day moving average of $44.42 and a 200-day moving average of $40.09.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts' consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during 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%. FOX's quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter in the prior year, the firm posted $1.09 earnings per share. On average, equities analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

Analysts Set New Price Targets

A number of equities research analysts recently commented on the company. Morgan Stanley upped their target price on FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a research report on Friday, November 1st. StockNews.com upgraded FOX from a "hold" rating to a "buy" rating in a research note on Friday, December 6th. Evercore ISI upgraded FOX to a "hold" rating in a research note on Tuesday, November 5th. Guggenheim boosted their price target on FOX from $45.00 to $50.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. raised their price objective on shares of FOX from $41.00 to $42.00 and gave the stock a "neutral" rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the company's stock. According to MarketBeat.com, the company presently has an average rating of "Hold" and a consensus target price 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.