State Street Corp Has $660.38 Million Stake in Fox Co. (NASDAQ:FOXA)

State Street Corp raised its stake in Fox Co. (NASDAQ:FOXA) by 0.1% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 15,600,774 shares of the company’s stock after buying an additional 19,128 shares during the quarter. State Street Corp owned 3.39% of FOX worth $660,381,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds also recently modified their holdings of FOXA. Pacer Advisors Inc. raised its position in shares of FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of FOX by 228.4% during the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after purchasing an additional 964,737 shares during the period. Retirement Systems of Alabama raised its position in shares of FOX by 1,727.2% during the second quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after purchasing an additional 912,250 shares during the period. AXA S.A. raised its position in shares of FOX by 294.2% during the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the period. Finally, Independent Franchise Partners LLP raised its position in shares of 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 purchasing an additional 597,450 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities research analysts have recently commented on the company. Bank of America raised their price target on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. Loop Capital increased their price objective on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Wells Fargo & Company increased their price objective on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Morgan Stanley increased their price objective on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Evercore ISI upgraded FOX to a “hold” rating in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company presently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Up 0.8 %

FOXA stock opened at $47.00 on Monday. 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 twelve month low of $28.28 and a twelve month high of $47.58. The business has a 50 day moving average price of $43.96 and a two-hundred day moving average price of $39.67. The company has a market cap of $21.47 billion, a price-to-earnings ratio of 11.49, a P/E/G ratio of 1.19 and a beta of 0.77.

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

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred 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 directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

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.