JPMorgan Chase & Co. Acquires 110,753 Shares of Fox Co. (NASDAQ:FOXA)

JPMorgan Chase & Co. lifted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 10.9% during the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 1,125,648 shares of the company’s stock after purchasing an additional 110,753 shares during the period. JPMorgan Chase & Co. owned 0.25% of FOX worth $47,649,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Pacer Advisors Inc. lifted its stake in FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after buying an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. boosted its stake in FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after acquiring an additional 964,737 shares in the last quarter. AXA S.A. grew its holdings in FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the period. Independent Franchise Partners LLP increased its stake in FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. raised its holdings in shares of FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after purchasing an additional 492,467 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. 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 completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 over the last 90 days. Corporate insiders own 21.77% of the company’s stock.

FOX Trading Up 0.7 %

Shares of FOXA opened at $49.32 on Friday. The firm has a market cap of $22.53 billion, a P/E ratio of 12.06, a price-to-earnings-growth ratio of 1.18 and a beta of 0.75. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. 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 business has a 50-day moving average of $46.60 and a 200 day moving average of $41.63.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 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 company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the prior year, the company posted $1.09 EPS. FOX’s revenue was up 11.1% compared to the same quarter last year. As a group, research analysts forecast that Fox Co. will post 3.94 EPS for the current year.

Analyst Upgrades and Downgrades

FOXA has been the topic of several recent research reports. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. JPMorgan Chase & Co. boosted their price target on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. Wells Fargo & Company raised their price objective on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research note on Tuesday, November 5th. Guggenheim boosted their target price on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, TD Cowen raised their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $46.87.

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.