Wellington Management Group LLP Acquires 69,609 Shares of Fox Co. (NASDAQ:FOXA)

Wellington Management Group LLP increased its stake in Fox Co. (NASDAQ:FOXA) by 76.6% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 160,537 shares of the company’s stock after purchasing an additional 69,609 shares during the quarter. Wellington Management Group LLP’s holdings in FOX were worth $4,763,000 at the end of the most recent quarter.

Several other hedge funds have also bought and sold shares of the stock. Quest Partners LLC purchased a new position in shares of FOX during the 4th quarter valued at about $1,796,000. Scout Investments Inc. boosted its position in shares of FOX by 102.0% in the fourth quarter. Scout Investments Inc. now owns 209,871 shares of the company’s stock worth $6,227,000 after purchasing an additional 105,960 shares during the period. Hsbc Holdings PLC increased its stake in shares of FOX by 99.9% in the fourth quarter. Hsbc Holdings PLC now owns 652,921 shares of the company’s stock worth $19,339,000 after purchasing an additional 326,254 shares in the last quarter. Deane Retirement Strategies Inc. bought a new stake in shares of FOX during the 4th quarter valued at $2,752,000. Finally, Caxton Associates LP lifted its stake in shares of FOX by 186.3% during the 4th quarter. Caxton Associates LP now owns 66,939 shares of the company’s stock valued at $1,986,000 after buying an additional 43,559 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Trading Up 0.9 %

FOXA opened at $34.37 on Friday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $35.40. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67. The stock has a 50-day moving average of $33.22 and a 200 day moving average of $31.38. The firm has a market cap of $16.04 billion, a P/E ratio of 10.77, a P/E/G ratio of 1.22 and a beta of 0.77.

FOX (NASDAQ:FOXA) last released its earnings results on Wednesday, May 8th. The company reported $1.09 earnings per share for the quarter, beating the consensus estimate of $0.98 by $0.11. The firm had revenue of $3.45 billion for the quarter, compared to the consensus estimate of $3.44 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. As a group, research analysts forecast that Fox Co. will post 3.33 EPS for the current year.

Analysts Set New Price Targets

FOXA has been the subject of a number of analyst reports. Seaport Res Ptn upgraded FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. Macquarie lifted their target price on FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. Barclays upped their price target on FOX from $33.00 to $36.00 and gave the stock an “equal weight” rating in a research note on Monday, May 13th. Rosenblatt Securities reiterated a “neutral” rating and set a $34.00 price objective on shares of FOX in a research report on Monday, April 15th. Finally, Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have given a buy rating to the company. According to data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $35.38.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction dated Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the transaction, the chairman now directly owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. In related news, CFO Steven Tomsic sold 30,000 shares of FOX stock in a transaction dated Friday, June 7th. The shares were sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the completion of the sale, the chief financial officer now owns 110,568 shares in the company, valued at approximately $3,788,059.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of the company’s stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the transaction, the chairman now owns 1,408,862 shares in the company, valued at $43,519,747.18. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.