Raymond James & Associates Cuts Stock Holdings in Fox Co. (NASDAQ:FOXA)

Raymond James & Associates decreased its stake in shares of Fox Co. (NASDAQ:FOXA) by 17.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund owned 173,565 shares of the company’s stock after selling 37,604 shares during the period. Raymond James & Associates’ holdings in FOX were worth $7,347,000 at the end of the most recent quarter.

Several other hedge funds also recently modified their holdings of the stock. Massmutual Trust Co. FSB ADV boosted its position in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the last quarter. Friedenthal Financial purchased a new position in FOX in the second quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new position in FOX in the second quarter worth $52,000. Meeder Asset Management Inc. purchased a new position in FOX in the first quarter worth $66,000. Finally, Covestor Ltd boosted its position in FOX by 283.0% in the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after purchasing an additional 2,128 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through this link. In other news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. 21.77% of the stock is owned by company insiders.

FOX Stock Performance

NASDAQ:FOXA opened at $42.03 on Thursday. Fox Co. has a 52-week low of $28.28 and a 52-week high of $42.85. The business’s fifty day moving average is $41.31 and its 200 day moving average is $37.04. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The firm has a market cap of $19.62 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.92 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the previous year, the business earned $0.88 earnings per share. The firm’s revenue was up 2.0% on a year-over-year basis. Research analysts predict that Fox Co. will post 3.69 EPS for the current year.

Analysts Set New Price Targets

FOXA has been the topic of several research reports. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Wells Fargo & Company upgraded FOX from an “underweight” rating to an “overweight” rating and boosted their target price for the company from $29.00 to $46.00 in a research note on Friday, August 16th. Guggenheim boosted their target price on FOX from $44.00 to $45.00 and gave the company a “buy” rating in a research note on Tuesday, September 24th. The Goldman Sachs Group boosted their target price on FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Rosenblatt Securities boosted their target price on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock has an average rating of “Hold” and a consensus target price of $41.08.

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.