Fox Co. (NASDAQ:FOXA) Holdings Trimmed by Fifth Third Bancorp

Fifth Third Bancorp cut its holdings in Fox Co. (NASDAQ:FOXA) by 25.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 9,343 shares of the company’s stock after selling 3,197 shares during the quarter. Fifth Third Bancorp’s holdings in FOX were worth $454,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently bought and sold shares of FOXA. Pacer Advisors Inc. grew its stake in shares of FOX by 44,205.3% in the 3rd 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 last quarter. Jacobs Levy Equity Management Inc. grew its position in FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares during the last quarter. Glenmede Trust Co. NA increased its holdings in shares of FOX by 244.0% in the third quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock valued at $16,486,000 after buying an additional 276,259 shares in the last quarter. Caisse DE Depot ET Placement DU Quebec acquired a new stake in shares of FOX during the 3rd quarter valued at $8,531,000. Finally, Citigroup Inc. boosted its stake in shares of FOX by 35.3% during the 3rd quarter. Citigroup Inc. now owns 593,104 shares of the company’s stock worth $25,106,000 after acquiring an additional 154,680 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

Several equities research analysts have recently commented on the company. StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Barclays upped their price objective on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and lifted their target price for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Loop Capital upped their price target on shares of FOX from $48.00 to $55.00 and gave the company a “buy” rating in a research report on Wednesday, December 18th. Finally, Wells Fargo & Company lifted their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a research report on Friday, January 10th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has an average rating of “Hold” and a consensus price target of $48.25.

FOX Price Performance

Shares of FOXA opened at $51.02 on Friday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market cap of $23.30 billion, a PE ratio of 12.47, a PEG ratio of 1.19 and a beta of 0.75. Fox Co. has a twelve month low of $28.28 and a twelve month high of $51.08. The firm’s 50 day moving average price is $48.17 and its 200 day moving average price is $43.47.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.12 by $0.33. The business 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%. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.09 EPS. As a group, research analysts expect that Fox Co. will post 4.09 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction 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 in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated 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 valued at $20,822,072 over the last quarter. Insiders own 21.77% of the company’s stock.

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.