Independent Franchise Partners LLP Sells 144,134 Shares of Fox Co. (NASDAQ:FOXA)

Independent Franchise Partners LLP lowered its stake in shares of Fox Co. (NASDAQ:FOXA) by 0.8% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 18,813,489 shares of the company’s stock after selling 144,134 shares during the period. FOX makes up 5.4% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 8th biggest holding. Independent Franchise Partners LLP’s holdings in FOX were worth $639,659,000 as of its most recent filing with the Securities and Exchange Commission.

Other institutional investors have also added to or reduced their stakes in the company. GPS Wealth Strategies Group LLC purchased a new position in shares of FOX in the second quarter valued at $27,000. Exchange Traded Concepts LLC purchased a new position in shares of FOX in the second quarter worth about $33,000. MV Capital Management Inc. raised its holdings in FOX by 1,402.9% during the 2nd quarter. MV Capital Management Inc. now owns 1,037 shares of the company’s stock valued at $35,000 after buying an additional 968 shares during the last quarter. Belpointe Asset Management LLC raised its holdings in shares of FOX by 35.6% during the first quarter. Belpointe Asset Management LLC now owns 1,437 shares of the company’s stock valued at $49,000 after acquiring an additional 377 shares in the last quarter. Finally, CWM LLC boosted its position in FOX by 43.5% during the 1st quarter. CWM LLC now owns 1,688 shares of the company’s stock valued at $57,000 after acquiring an additional 512 shares in the last quarter. 55.93% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In other news, insider Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Friday, September 15th. The stock was sold at an average price of $31.90, for a total value of $3,190,000.00. Following the completion of the sale, the insider now directly owns 128,964 shares in the company, valued at approximately $4,113,951.60. The sale was disclosed in a document filed with the SEC, which is accessible through this link. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

FOXA has been the subject of a number of recent research reports. Seaport Res Ptn restated a “neutral” rating on shares of FOX in a research note on Friday, October 6th. StockNews.com assumed coverage on FOX in a report on Thursday, October 5th. They set a “hold” rating for the company. Sanford C. Bernstein assumed coverage on shares of FOX in a report on Thursday, October 5th. They set a “market perform” rating and a $32.00 price objective on the stock. JPMorgan Chase & Co. cut FOX from an “overweight” rating to a “neutral” rating and dropped their target price for the stock from $40.00 to $36.00 in a research report on Friday, November 3rd. Finally, Citigroup increased their price target on FOX from $35.00 to $38.00 and gave the stock a “neutral” rating in a research note on Thursday, August 17th. Two investment analysts have rated the stock with a sell rating, twelve have given a hold rating and four have assigned a buy rating to the company. According to MarketBeat, the company currently has an average rating of “Hold” and a consensus price target of $34.93.

FOX Stock Performance

Shares of FOX stock traded up $0.35 during midday trading on Monday, hitting $30.71. The company had a trading volume of 1,603,647 shares, compared to its average volume of 3,575,132. Fox Co. has a 1-year low of $28.67 and a 1-year high of $37.26. The business’s 50 day simple moving average is $30.87 and its two-hundred day simple moving average is $32.13. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.02 and a quick ratio of 1.81. The stock has a market cap of $14.83 billion, a PE ratio of 14.88, a P/E/G ratio of 0.77 and a beta of 0.86.

About FOX

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.