Victory Capital Management Inc. Sells 675,379 Shares of Fox Co. (NASDAQ:FOXA)

Victory Capital Management Inc. trimmed its position in shares of Fox Co. (NASDAQ:FOXA) by 77.5% during the third quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 195,562 shares of the company’s stock after selling 675,379 shares during the quarter. Victory Capital Management Inc.’s holdings in FOX were worth $8,278,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. UniSuper Management Pty Ltd grew its position in shares of FOX by 565.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after acquiring an additional 20,250 shares during the period. Bessemer Group Inc. boosted its position in shares of FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after acquiring an additional 326 shares in the last quarter. CreativeOne Wealth LLC bought a new position in shares of FOX in the 1st quarter valued at $609,000. Gamco Investors INC. ET AL grew its position in FOX by 0.6% in the first quarter. Gamco Investors INC. ET AL now owns 439,735 shares of the company’s stock valued at $13,751,000 after acquiring an additional 2,811 shares during the last quarter. Finally, Mount Yale Investment Advisors LLC increased its position in FOX by 19.0% during the 1st quarter. Mount Yale Investment Advisors LLC now owns 185,567 shares of the company’s stock worth $5,803,000 after purchasing an additional 29,608 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analysts Set New Price Targets

A number of analysts have recently commented on FOXA shares. TD Cowen lifted their price target on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Evercore ISI upgraded shares of FOX to a “hold” rating in a report on Tuesday, November 5th. Finally, Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

FOX Stock Up 2.3 %

NASDAQ FOXA opened at $46.76 on Friday. Fox Co. has a one year low of $28.28 and a one year high of $47.58. 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 stock has a 50 day moving average price of $42.73 and a 200-day moving average price of $38.54. The company has a market capitalization of $21.36 billion, a P/E ratio of 11.43, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 EPS. As a group, equities analysts predict that Fox Co. will post 3.94 EPS for the current fiscal year.

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.