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Bank of America Corp DE lessened its position in shares of Fox Co. (NASDAQ:FOXA – Free Report) by 58.3% in the fourth quarter, according to its most recent filing with the SEC. The firm owned 1,092,462 shares of the company’s stock after selling 1,528,203 shares during the quarter. Bank of America Corp DE owned approximately 0.24% of FOX worth $53,072,000 at the end of the most recent quarter.
A number of other institutional investors and hedge funds have also recently modified their holdings of the business. DnB Asset Management AS boosted its holdings in FOX by 0.6% in the fourth quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock worth $2,141,000 after acquiring an additional 245 shares in the last quarter. Jones Financial Companies Lllp grew its position in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after purchasing an additional 249 shares during the period. SRS Capital Advisors Inc. increased its stake in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after purchasing an additional 262 shares in the last quarter. US Bancorp DE lifted its stake in shares of FOX by 2.0% in the fourth quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after buying an additional 281 shares in the last quarter. Finally, Metis Global Partners LLC grew its holdings in shares of FOX by 2.8% during the fourth quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after buying an additional 292 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.
Wall Street Analyst Weigh In
Several research analysts recently issued reports on the company. Wells Fargo & Company lifted their target price on FOX from $58.00 to $62.00 and gave the company an “overweight” rating in a research report on Tuesday. Loop Capital boosted their price target on shares of FOX from $62.00 to $64.00 and gave the stock a “buy” rating in a report on Tuesday. UBS Group lifted their target price on shares of FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and upped their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Guggenheim reiterated a “buy” rating and set a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. Two investment analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have given a buy rating to the company’s stock. According to data from MarketBeat, FOX presently has an average rating of “Hold” and an average price target of $52.71.
Check Out Our Latest Analysis on FOXA
Insider Activity
In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Corporate insiders own 21.77% of the company’s stock.
FOX Price Performance
FOX stock opened at $55.24 on Wednesday. The business has a fifty day moving average price of $51.27 and a 200-day moving average price of $50.06. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The firm has a market capitalization of $25.05 billion, a P/E ratio of 11.83, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a one year low of $32.45 and a one year high of $58.74.
FOX (NASDAQ:FOXA – Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The business’s revenue for the quarter was up 26.8% on a year-over-year basis. During the same period in the previous year, the business earned $1.40 EPS. As a group, equities research analysts forecast that Fox Co. will post 4.38 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.
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