Westpac Banking Corp lowered its position in shares of Fox Co. (NASDAQ:FOXA – Free Report) by 23.2% in the second quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The institutional investor owned 85,396 shares of the company’s stock after selling 25,726 shares during the period. Westpac Banking Corp’s holdings in FOX were worth $2,903,000 at the end of the most recent quarter.
Other large investors have also recently bought and sold shares of the company. Cambria Investment Management L.P. acquired a new position in shares of FOX during the 2nd quarter worth about $7,167,000. BNP Paribas Arbitrage SNC lifted its stake in FOX by 8.7% during the second quarter. BNP Paribas Arbitrage SNC now owns 659,947 shares of the company’s stock worth $22,438,000 after purchasing an additional 52,870 shares during the last quarter. AGF Management Ltd. boosted its holdings in FOX by 15.8% in the second quarter. AGF Management Ltd. now owns 110,837 shares of the company’s stock valued at $3,768,000 after purchasing an additional 15,095 shares in the last quarter. TD Asset Management Inc increased its stake in FOX by 142.0% in the second quarter. TD Asset Management Inc now owns 1,018,538 shares of the company’s stock valued at $34,630,000 after purchasing an additional 597,573 shares during the last quarter. Finally, Andra AP fonden increased its stake in FOX by 38.0% in the second quarter. Andra AP fonden now owns 188,200 shares of the company’s stock valued at $6,399,000 after purchasing an additional 51,800 shares during the last quarter. Hedge funds and other institutional investors own 55.93% of the company’s stock.
Analyst Ratings Changes
Several brokerages have recently issued reports on FOXA. Citigroup upped their target price on shares of FOX from $35.00 to $38.00 and gave the company a “neutral” rating in a report on Thursday, August 17th. Seaport Res Ptn reaffirmed a “neutral” rating on shares of FOX in a report on Friday, October 6th. Morgan Stanley cut their target price on FOX from $39.00 to $35.00 and set an “equal weight” rating on the stock in a research report on Wednesday, November 1st. Barclays decreased their target price on FOX from $35.00 to $33.00 and set an “equal weight” rating for the company in a research report on Monday, October 9th. Finally, Loop Capital dropped their price target on FOX from $40.00 to $38.00 in a research note on Wednesday, October 11th. Two analysts have rated the stock with a sell rating, twelve have issued a hold rating and four have issued a buy rating to the company. Based on data from MarketBeat.com, FOX presently has an average rating of “Hold” and a consensus target price of $34.93.
FOX Stock Performance
FOXA traded down $0.25 during trading on Thursday, hitting $30.22. The stock had a trading volume of 500,523 shares, compared to its average volume of 3,545,683. The firm has a market capitalization of $14.59 billion, a P/E ratio of 14.94, a PEG ratio of 0.75 and a beta of 0.86. The company has a debt-to-equity ratio of 0.57, a quick ratio of 1.81 and a current ratio of 2.02. Fox Co. has a twelve month low of $28.67 and a twelve month high of $37.26. The company’s 50-day moving average price is $30.91 and its 200 day moving average price is $32.18.
In related news, insider Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated Friday, September 15th. The shares were sold at an average price of $31.90, for a total transaction of $3,190,000.00. Following the completion of the transaction, the insider now directly owns 128,964 shares of the company’s stock, valued at $4,113,951.60. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Insiders own 21.77% of the company’s stock.
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 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.
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