First Trust Advisors LP Increases Position in Fox Co. (NASDAQ:FOXA)

First Trust Advisors LP increased its holdings in Fox Co. (NASDAQ:FOXAFree Report) by 17.3% in the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 927,051 shares of the company’s stock after acquiring an additional 136,473 shares during the period. First Trust Advisors LP’s holdings in FOX were worth $27,506,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently modified their holdings of FOXA. Norges Bank purchased a new stake in shares of FOX during the 4th quarter valued at $68,391,000. Northern Trust Corp grew its position in FOX by 67.8% during the third quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock valued at $175,993,000 after buying an additional 2,279,923 shares during the period. KBC Group NV increased its holdings in FOX by 453.0% during the fourth quarter. KBC Group NV now owns 2,029,839 shares of the company’s stock worth $60,225,000 after buying an additional 1,662,748 shares during the last quarter. TD Asset Management Inc raised its position in FOX by 128.0% in the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock worth $68,068,000 after acquiring an additional 1,287,911 shares during the period. Finally, Jacobs Levy Equity Management Inc. purchased a new position in FOX in the third quarter valued at about $27,780,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Analyst Ratings Changes

Several equities research analysts have recently issued reports on FOXA shares. Barclays raised their price target on shares of FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Deutsche Bank Aktiengesellschaft boosted their target price on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a research note on Thursday, May 9th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and increased their price target for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Bank of America raised FOX from a “neutral” rating to a “buy” rating and lifted their price objective for the stock from $34.00 to $40.00 in a report on Thursday, May 9th. Finally, Rosenblatt Securities reaffirmed a “neutral” rating and set a $34.00 price objective on shares of FOX in a report on Monday, April 15th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and four have issued a buy rating to the stock. According to data from MarketBeat, the stock has an average rating of “Hold” and a consensus target price of $34.83.

View Our Latest Research Report on FOXA

Insider Transactions at FOX

In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, Chairman Keith Rupert Murdoch sold 13,176 shares of the stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this link. Also, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the sale, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Trading Down 1.2 %

Shares of FOXA opened at $33.69 on Tuesday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $35.40. The stock has a market cap of $15.72 billion, a PE ratio of 10.56, a P/E/G ratio of 1.24 and a beta of 0.77. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. The business’s 50-day moving average price is $32.37 and its 200-day moving average price is $30.98.

FOX (NASDAQ:FOXAGet Free Report) last posted its earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, topping analysts’ consensus estimates of $0.98 by $0.11. FOX had a net margin of 11.19% and a return on equity of 15.90%. The business had revenue of $3.45 billion for the quarter, compared to analyst estimates of $3.44 billion. On average, equities analysts forecast that Fox Co. will post 3.33 EPS for the current fiscal year.

About FOX

(Free Report)

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.

Further Reading

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Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

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