Fox Co. (NASDAQ:FOXA) Shares Sold by Wellington Management Group LLP

Wellington Management Group LLP cut its stake in Fox Co. (NASDAQ:FOXA) by 28.9% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 142,479 shares of the company’s stock after selling 57,819 shares during the period. Wellington Management Group LLP’s holdings in FOX were worth $6,031,000 at the end of the most recent reporting period.

A number of other large investors have also recently added to or reduced their stakes in FOXA. Entropy Technologies LP acquired a new stake in shares of FOX in the 3rd quarter valued at about $546,000. B. Metzler seel. Sohn & Co. Holding AG bought a new stake in FOX in the third quarter valued at about $2,867,000. Edgestream Partners L.P. raised its stake in FOX by 343.1% during the second quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock valued at $7,010,000 after buying an additional 157,927 shares in the last quarter. Teachers Retirement System of The State of Kentucky lifted its holdings in FOX by 9.7% during the 2nd quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock worth $24,492,000 after buying an additional 62,920 shares during the last quarter. Finally, Quantbot Technologies LP grew its position in shares of FOX by 21.2% in the 3rd quarter. Quantbot Technologies LP now owns 239,675 shares of the company’s stock worth $10,145,000 after acquiring an additional 41,894 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were 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 owns 249,424 shares of the company’s stock, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. 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.

Wall Street Analyst Weigh In

Several equities research analysts recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their price target on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. JPMorgan Chase & Co. boosted their price objective on shares of FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research report on Tuesday, November 5th. Wells Fargo & Company raised their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Finally, Evercore ISI raised FOX to a “hold” rating in a report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have given a hold rating and nine have assigned a buy rating to the stock. According to data from MarketBeat.com, FOX presently has an average rating of “Hold” and an average price target of $44.00.

FOX Price Performance

Shares of NASDAQ FOXA opened at $47.06 on Tuesday. The firm’s 50-day simple moving average is $44.53 and its 200 day simple moving average is $40.22. The stock has a market cap of $21.49 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.67.

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