Fox Co. (NASDAQ:FOXA) Stock Position Raised by Park Avenue Securities LLC

Park Avenue Securities LLC lifted its stake in Fox Co. (NASDAQ:FOXA) by 32.4% during the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 15,481 shares of the company’s stock after acquiring an additional 3,787 shares during the period. Park Avenue Securities LLC’s holdings in FOX were worth $752,000 at the end of the most recent reporting period.

A number of other institutional investors have also made changes to their positions in FOXA. Crossmark Global Holdings Inc. increased its position in FOX by 1.7% in the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after buying an additional 385 shares during the period. Kathmere Capital Management LLC boosted its stake in FOX by 9.0% in the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after purchasing an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after purchasing an additional 451 shares in the last quarter. US Bancorp DE raised its position in shares of FOX by 4.0% during the third quarter. US Bancorp DE now owns 14,239 shares of the company’s stock worth $603,000 after acquiring an additional 550 shares during the last quarter. Finally, Prestige Wealth Management Group LLC raised its position in shares of FOX by 14.7% during the third quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after acquiring an additional 569 shares during the last quarter. 52.52% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms recently commented on FOXA. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Citigroup boosted their target price on FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Deutsche Bank Aktiengesellschaft upped their price objective on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Barclays increased their price target on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Finally, Bank of America upped their price objective on FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Hold” and a consensus target price of $48.25.

Insider Activity

In other FOX news, COO John Nallen sold 182,481 shares of the stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $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 in the last ninety days. 21.77% of the stock is owned by company insiders.

FOX Trading Down 0.2 %

Shares of FOXA stock opened at $47.90 on Wednesday. The firm has a market capitalization of $21.88 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.19 and a beta of 0.75. Fox Co. has a twelve month low of $28.28 and a twelve month high of $50.63. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The stock’s fifty day simple moving average is $47.76 and its 200 day simple moving average is $42.84.

FOX (NASDAQ:FOXA) last released 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. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company posted $1.09 EPS. As a group, sell-side analysts predict that Fox Co. will post 4.09 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.