Ritholtz Wealth Management Grows Holdings in Fox Co. (NASDAQ:FOXA)

Ritholtz Wealth Management grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 4.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 10,104 shares of the company’s stock after purchasing an additional 399 shares during the quarter. Ritholtz Wealth Management’s holdings in FOX were worth $491,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in FOXA. Quest Partners LLC purchased a new stake in FOX in the 3rd quarter valued at about $51,000. Quarry LP bought a new stake in shares of FOX during the third quarter valued at approximately $70,000. Versant Capital Management Inc boosted its holdings in shares of FOX by 3,551.1% in the fourth quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after purchasing an additional 1,669 shares during the period. Transamerica Financial Advisors Inc. bought a new position in FOX in the third quarter worth approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in FOX during the 3rd quarter worth $141,000. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities research analysts have weighed in on the company. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Guggenheim upped their price objective on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Barclays raised their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Finally, Evercore ISI raised shares of FOX to a “hold” rating in a report on Tuesday, November 5th. Two investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and seven have given a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and a consensus target price of $48.00.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction 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 document filed with the SEC, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is owned by company insiders.

FOX Stock Performance

Shares of FOX stock opened at $48.00 on Tuesday. The company has a 50 day moving average price of $47.72 and a 200 day moving average price of $42.75. The firm has a market capitalization of $21.92 billion, a P/E ratio of 11.74, a PEG ratio of 1.19 and a beta of 0.75. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a 52 week low of $28.28 and a 52 week high of $50.63.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The business 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 business’s quarterly revenue was up 11.1% on a year-over-year basis. During the same quarter last year, the company posted $1.09 earnings per share. Sell-side analysts expect that Fox Co. will post 4.08 EPS for the current 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.