MML Investors Services LLC Reduces Stake in Fox Co. (NASDAQ:FOXA)

MML Investors Services LLC cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 18.2% during the third quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 5,291 shares of the company’s stock after selling 1,179 shares during the period. MML Investors Services LLC’s holdings in FOX were worth $224,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also modified their holdings of FOXA. Quest Partners LLC bought a new stake in shares of FOX in the 3rd quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX in the second quarter worth about $52,000. Quarry LP purchased a new position in shares of FOX during the third quarter valued at approximately $70,000. Transamerica Financial Advisors Inc. bought a new position in shares of FOX during the third quarter valued at approximately $119,000. Finally, Exchange Traded Concepts LLC purchased a new stake in shares of FOX in the third quarter worth approximately $141,000. 52.52% of the stock is owned by institutional investors.

Analysts Set New Price Targets

FOXA has been the subject of a number of recent analyst reports. Wells Fargo & Company boosted their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Deutsche Bank Aktiengesellschaft upped their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. 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. Finally, StockNews.com lowered shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. According to data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $46.87.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the firm’s stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Over the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. 21.77% of the stock is currently owned by insiders.

FOX Price Performance

Shares of FOXA stock opened at $49.83 on Friday. The company has a market cap of $22.76 billion, a P/E ratio of 12.18, a PEG ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The stock’s 50-day moving average is $45.77 and its 200 day moving average is $40.98. Fox Co. has a 1-year low of $28.28 and a 1-year high of $50.63.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share 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 analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company’s revenue was up 11.1% compared to the same quarter last year. During the same period last year, the business earned $1.09 EPS. Research analysts predict that Fox Co. will post 3.94 earnings per share for the current fiscal year.

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.