Fox Co. (NASDAQ:FOXA) Stock Position Decreased by Swedbank AB

Swedbank AB trimmed its stake in Fox Co. (NASDAQ:FOXA) by 1.7% during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 137,503 shares of the company’s stock after selling 2,324 shares during the quarter. Swedbank AB’s holdings in FOX were worth $5,821,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. Massmutual Trust Co. FSB ADV increased its stake in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial acquired a new position in shares of FOX in the second quarter worth about $51,000. Quest Partners LLC purchased a new position in shares of FOX in the third quarter worth approximately $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX during the second quarter valued at approximately $52,000. Finally, GAMMA Investing LLC lifted its position in shares of FOX by 97.6% in the 2nd quarter. GAMMA Investing LLC now owns 3,334 shares of the company’s stock valued at $115,000 after acquiring an additional 1,647 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Several equities analysts have weighed in on the stock. Rosenblatt Securities lifted their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research report on Wednesday, August 7th. Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Barclays increased their price objective on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. JPMorgan Chase & Co. upped their target price on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Finally, Deutsche Bank Aktiengesellschaft raised their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Stock Up 1.2 %

FOXA opened at $46.71 on Thursday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58. 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 price of $43.24 and a 200 day moving average price of $38.95. The firm has a market cap of $21.33 billion, a P/E ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the prior year, the firm earned $1.09 EPS. Research analysts forecast that Fox Co. will post 3.94 EPS for the current year.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 182,481 shares of the firm’s 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock worth $20,822,072 over the last ninety days. Company insiders own 21.77% of the company’s stock.

FOX Company 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.