Bank of Montreal Can Trims Stock Position in Fox Co. (NASDAQ:FOXA)

Bank of Montreal Can trimmed its stake in Fox Co. (NASDAQ:FOXA) by 20.3% in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 183,927 shares of the company’s stock after selling 46,824 shares during the period. Bank of Montreal Can’s holdings in FOX were worth $7,775,000 as of its most recent SEC filing.

Other large investors have also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV boosted its stake in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares in the last quarter. Friedenthal Financial bought a new position in FOX during the 2nd quarter valued at approximately $51,000. Quest Partners LLC purchased a new position in FOX during the third quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX in the second quarter worth $52,000. Finally, GAMMA Investing LLC grew its stake in shares of FOX by 97.6% in the second quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock worth $115,000 after acquiring an additional 1,647 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is currently owned by insiders.

FOX Stock Down 0.7 %

FOXA opened at $46.77 on Tuesday. The firm’s fifty day moving average is $43.50 and its 200 day moving average is $39.19. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The stock has a market cap of $21.36 billion, a price-to-earnings ratio of 11.44, a price-to-earnings-growth ratio of 1.21 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same period last year, the firm posted $1.09 EPS. The company’s revenue was up 11.1% on a year-over-year basis. On average, sell-side analysts forecast that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Analyst Ratings Changes

Several research analysts have recently issued reports on FOXA shares. The Goldman Sachs Group upped their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Macquarie restated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. Loop Capital increased their price objective on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Wells Fargo & Company raised their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company’s stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

About FOX

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.