DekaBank Deutsche Girozentrale Sells 4,297 Shares of Fox Co. (NASDAQ:FOXA)

DekaBank Deutsche Girozentrale lowered its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.3% during the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 76,402 shares of the company’s stock after selling 4,297 shares during the quarter. DekaBank Deutsche Girozentrale’s holdings in FOX were worth $3,206,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of FOXA. Vanguard Group Inc. boosted its stake in shares of FOX by 5.9% in the 1st quarter. Vanguard Group Inc. now owns 29,880,203 shares of the company’s stock valued at $934,354,000 after purchasing an additional 1,653,913 shares in the last quarter. Retirement Systems of Alabama increased its stake in shares of FOX by 1,727.2% in the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after acquiring an additional 912,250 shares during the last quarter. AXA S.A. increased its stake in shares of FOX by 294.2% in the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock valued at $30,537,000 after acquiring an additional 663,089 shares during the last quarter. Independent Franchise Partners LLP increased its stake in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in shares of FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after acquiring an additional 492,467 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling at FOX

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

Analysts Set New Price Targets

Several equities research analysts have recently commented on FOXA shares. Rosenblatt Securities increased their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Cfra restated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday. Loop Capital raised their target price on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. Finally, Wells Fargo & Company raised FOX from an “underweight” rating to an “overweight” rating and boosted their price target for the stock from $29.00 to $46.00 in a report on Friday, August 16th. One research analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company presently has an average rating of “Hold” and an average target price of $41.46.

FOX Stock Performance

Shares of FOXA stock opened at $41.88 on Friday. The company has a market cap of $19.27 billion, a price-to-earnings ratio of 13.38, a price-to-earnings-growth ratio of 1.91 and a beta of 0.76. Fox Co. has a 52 week low of $28.28 and a 52 week high of $42.85. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The firm has a 50 day moving average of $41.35 and a 200-day moving average of $37.15.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating 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 for the quarter, compared to analysts’ expectations of $3.10 billion. During the same period last year, the business earned $0.88 EPS. The business’s revenue was up 2.0% on a year-over-year basis. On average, equities analysts forecast that Fox Co. will post 3.69 earnings per share for the current year.

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.