Central Pacific Bank Trust Division Reduces Stock Position in Fox Co. (NASDAQ:FOXA)

Central Pacific Bank Trust Division decreased its position in shares of Fox Co. (NASDAQ:FOXA) by 29.1% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 7,300 shares of the company’s stock after selling 3,000 shares during the quarter. Central Pacific Bank Trust Division’s holdings in FOX were worth $355,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds have also modified their holdings of the company. Independent Franchise Partners LLP increased its holdings in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after acquiring an additional 597,450 shares in the last quarter. LSV Asset Management increased its stake in shares of FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after purchasing an additional 481,267 shares in the last quarter. Pacer Advisors Inc. raised its position in shares of FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Dimensional Fund Advisors LP lifted its stake in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its holdings in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after buying an additional 492,467 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 over the last three months. 21.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently weighed in on the company. UBS Group boosted their price target on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Guggenheim boosted their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Citigroup upped their target price on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. JPMorgan Chase & Co. lifted their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a report on Tuesday, November 5th. Finally, Loop Capital upped their price objective on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and eight have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $46.87.

FOX Stock Up 0.7 %

Shares of NASDAQ:FOXA opened at $49.32 on Friday. Fox Co. has a 1 year low of $28.28 and a 1 year high of $50.63. The stock has a 50-day simple moving average of $46.60 and a 200-day simple moving average of $41.63. 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 market capitalization of $22.53 billion, a P/E ratio of 12.06, a PEG ratio of 1.18 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the prior year, the business earned $1.09 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. Equities analysts forecast that Fox Co. will post 3.94 earnings per share for the current year.

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.