Empowered Funds LLC Sells 220,001 Shares of Fox Co. (NASDAQ:FOXA)

Empowered Funds LLC cut its position in shares of Fox Co. (NASDAQ:FOXA) by 43.9% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 281,456 shares of the company’s stock after selling 220,001 shares during the period. Empowered Funds LLC owned about 0.06% of FOX worth $11,914,000 at the end of the most recent reporting period.

Other large investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its holdings in shares of FOX by 176.6% during 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 acquired a new stake in FOX in the 2nd quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new position in shares of FOX in the second quarter worth about $52,000. Covestor Ltd lifted its position in shares of FOX by 283.0% during 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 in the last quarter. Finally, Bessemer Group Inc. grew its stake in shares of FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after purchasing an additional 326 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Price Performance

FOXA opened at $47.23 on Friday. The company has a market capitalization of $21.74 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.20 and a beta of 0.76. 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 firm has a 50-day moving average price of $41.98 and a 200-day moving average price of $37.97. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. The company 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%. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same quarter in the previous year, the company earned $1.09 earnings per share. Equities analysts expect 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. Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft lifted their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Loop Capital raised their price objective on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. StockNews.com upgraded shares of FOX from a “hold” rating to a “buy” rating in a research report on Tuesday. Finally, Morgan Stanley raised their price target on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have assigned a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Transactions at FOX

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred 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 sale, the chief operating officer now 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

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.