Advisors Asset Management Inc. Sells 4,237 Shares of Fox Co. (NASDAQ:FOXA)

Advisors Asset Management Inc. decreased its position in Fox Co. (NASDAQ:FOXA) by 27.1% during the 3rd quarter, Holdings Channel.com reports. The fund owned 11,394 shares of the company’s stock after selling 4,237 shares during the quarter. Advisors Asset Management Inc.’s holdings in FOX were worth $482,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in FOXA. Retirement Systems of Alabama boosted its holdings in FOX by 1,727.2% in the second 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. boosted its holdings in FOX by 294.2% in the second 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 boosted its holdings in FOX by 3.3% during the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after buying an additional 597,450 shares during the last quarter. D. E. Shaw & Co. Inc. boosted its holdings in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after buying an additional 492,467 shares during the last quarter. Finally, LSV Asset Management boosted its holdings in FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after buying an additional 481,267 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.2 %

Shares of FOX stock opened at $46.71 on Thursday. The business’s 50 day simple moving average is $43.24 and its 200 day simple moving average is $38.95. Fox Co. has a 52-week low of $28.28 and a 52-week high of $47.58. The firm has a market cap of $21.33 billion, a PE ratio of 11.42, a P/E/G ratio of 1.18 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last announced its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 EPS. On average, analysts predict that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last 90 days. 21.77% of the stock is currently owned by insiders.

Analysts Set New Price Targets

FOXA has been the topic of a number of recent analyst reports. Cfra restated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Bank of America raised their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Rosenblatt Securities raised their target price on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a report on Wednesday, August 7th. Loop Capital raised their target price on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price target on shares of FOX in a research 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 given a buy rating to the company. According to MarketBeat, the company has a consensus rating of “Hold” and a consensus price target of $44.00.

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.