Kentucky Retirement Systems Sells 1,769 Shares of Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems decreased its holdings in shares of Fox Co. (NASDAQ:FOXA) by 10.2% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 15,650 shares of the company’s stock after selling 1,769 shares during the period. Kentucky Retirement Systems’ holdings in FOX were worth $662,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOXA. Vanguard Group Inc. raised its position in FOX by 5.9% during 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 during the last quarter. Retirement Systems of Alabama raised its position in FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock valued at $33,169,000 after purchasing an additional 912,250 shares during the last quarter. AXA S.A. grew its holdings in shares of FOX by 294.2% during the 2nd quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after acquiring an additional 663,089 shares during the period. Independent Franchise Partners LLP grew its holdings in shares of 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 acquiring an additional 597,450 shares during the period. Finally, D. E. Shaw & Co. Inc. grew its holdings 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 during the period. Institutional investors own 52.52% of the company’s stock.

Insider Activity

In other news, COO John Nallen sold 182,481 shares of the stock in a transaction 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $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. Insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research analyst reports. UBS Group upped their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays upped their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. Wells Fargo & Company upped their target price on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Rosenblatt Securities upped 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. Finally, Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. 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. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus price target of $44.00.

FOX Stock Performance

Shares of FOXA opened at $45.76 on Wednesday. The business’s fifty day simple moving average is $42.45 and its two-hundred day simple moving average is $38.43. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. The company has a market cap of $20.90 billion, a price-to-earnings ratio of 11.19, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating 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 business had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period last year, the business posted $1.09 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. Research analysts anticipate that Fox Co. will post 3.94 earnings per share for the current fiscal year.

About FOX

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.