Bank of Nova Scotia Reduces Stake in Fox Co. (NASDAQ:FOXA)

Bank of Nova Scotia reduced its position in Fox Co. (NASDAQ:FOXAGet Rating) by 38.7% in the 2nd quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 25,779 shares of the company’s stock after selling 16,267 shares during the period. Bank of Nova Scotia’s holdings in FOX were worth $828,000 as of its most recent SEC filing.

Several other hedge funds have also recently bought and sold shares of the company. Kentucky Retirement Systems Insurance Trust Fund increased its stake in FOX by 14.2% in the 2nd quarter. Kentucky Retirement Systems Insurance Trust Fund now owns 10,649 shares of the company’s stock valued at $342,000 after purchasing an additional 1,327 shares in the last quarter. Kentucky Retirement Systems grew its holdings in FOX by 14.9% during the 2nd quarter. Kentucky Retirement Systems now owns 23,133 shares of the company’s stock valued at $744,000 after buying an additional 3,003 shares during the last quarter. Prospera Financial Services Inc grew its holdings in FOX by 8.2% during the 2nd quarter. Prospera Financial Services Inc now owns 6,694 shares of the company’s stock valued at $215,000 after buying an additional 506 shares during the last quarter. Keybank National Association OH grew its holdings in FOX by 16.3% during the 2nd quarter. Keybank National Association OH now owns 15,844 shares of the company’s stock valued at $510,000 after buying an additional 2,221 shares during the last quarter. Finally, Barings LLC acquired a new stake in FOX during the 2nd quarter valued at $394,000. 56.49% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. StockNews.com cut FOX from a “buy” rating to a “hold” rating in a report on Friday. Wells Fargo & Company lowered their target price on FOX from $49.00 to $43.00 and set an “overweight” rating on the stock in a report on Thursday, August 11th. Argus upgraded FOX from a “hold” rating to a “buy” rating and set a $43.00 target price on the stock in a report on Thursday, October 6th. Barclays decreased their price objective on FOX from $37.00 to $36.00 in a report on Tuesday, October 11th. Finally, Deutsche Bank Aktiengesellschaft decreased their price objective on FOX from $46.00 to $42.00 in a report on Wednesday, November 2nd. One analyst has rated the stock with a sell rating, six have assigned a hold rating and six have issued a buy rating to the company’s stock. Based on data from MarketBeat, FOX presently has an average rating of “Hold” and an average price target of $38.50.

FOX Stock Up 1.0 %

NASDAQ:FOXA opened at $30.93 on Friday. The company has a market capitalization of $16.79 billion, a price-to-earnings ratio of 15.47, a price-to-earnings-growth ratio of 0.69 and a beta of 0.81. Fox Co. has a one year low of $28.01 and a one year high of $44.95. The stock has a 50-day simple moving average of $30.87 and a 200 day simple moving average of $32.84. The company has a debt-to-equity ratio of 0.62, a quick ratio of 3.16 and a current ratio of 3.60.

About FOX

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Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution through traditional and virtual multi-channel video programming distributors (MVPDs) and other digital platforms, primarily in the U.S.

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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