Fox Co. (NASDAQ:FOXA) Shares Sold by Allspring Global Investments Holdings LLC

Allspring Global Investments Holdings LLC decreased its position in Fox Co. (NASDAQ:FOXA) by 10.9% in the 1st quarter, HoldingsChannel reports. The institutional investor owned 975,123 shares of the company’s stock after selling 119,132 shares during the period. Allspring Global Investments Holdings LLC’s holdings in FOX were worth $30,492,000 at the end of the most recent reporting period.

Several other institutional investors have also modified their holdings of the company. LSV Asset Management lifted its holdings in shares of FOX by 9.0% in the fourth quarter. LSV Asset Management now owns 8,293,153 shares of the company’s stock valued at $246,058,000 after buying an additional 686,762 shares during the period. Dimensional Fund Advisors LP boosted its stake in shares of FOX by 1.6% during the 4th quarter. Dimensional Fund Advisors LP now owns 3,391,117 shares of the company’s stock worth $100,618,000 after acquiring an additional 51,942 shares in the last quarter. Charles Schwab Investment Management Inc. grew its holdings in shares of FOX by 1.8% in the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,325,443 shares of the company’s stock worth $68,996,000 after acquiring an additional 42,143 shares during the last quarter. Norges Bank acquired a new stake in shares of FOX during the fourth quarter worth $68,391,000. Finally, TD Asset Management Inc lifted its holdings in shares of FOX by 128.0% during the fourth quarter. TD Asset Management Inc now owns 2,294,159 shares of the company’s stock valued at $68,068,000 after purchasing an additional 1,287,911 shares during the last quarter. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of equities analysts recently weighed in on the company. Rosenblatt Securities reissued a “neutral” rating and issued a $34.00 price target on shares of FOX in a research note on Monday, April 15th. Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. Bank of America upgraded shares of FOX from a “neutral” rating to a “buy” rating and upped their price target for the company from $34.00 to $40.00 in a research report on Thursday, May 9th. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $38.00 to $39.00 and gave the stock a “buy” rating in a research report on Thursday, May 9th. Finally, The Goldman Sachs Group reissued a “buy” rating and set a $42.00 target price on shares of FOX in a research note on Monday. One analyst has rated the stock with a sell rating, nine have given a hold rating and five have assigned a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and a consensus price target of $35.38.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total value of $407,006.64. Following the completion of the sale, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. In other FOX news, CFO Steven Tomsic sold 30,000 shares of the stock in a transaction that occurred on Friday, June 7th. The stock was sold at an average price of $34.26, for a total transaction of $1,027,800.00. Following the transaction, the chief financial officer now owns 110,568 shares in the company, valued at $3,788,059.68. The sale was disclosed in a filing with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction that occurred on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the completion of the transaction, the chairman now directly owns 1,408,862 shares in the company, valued at approximately $43,519,747.18. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

FOX Stock Performance

Shares of NASDAQ FOXA opened at $34.78 on Friday. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. Fox Co. has a one year low of $28.28 and a one year high of $35.40. The business’s 50-day moving average price is $33.39 and its two-hundred day moving average price is $31.47. The company has a market capitalization of $16.23 billion, a P/E ratio of 10.90, a price-to-earnings-growth ratio of 1.09 and a beta of 0.77.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Wednesday, May 8th. The company reported $1.09 EPS for the quarter, beating the consensus estimate of $0.98 by $0.11. The business had revenue of $3.45 billion during the quarter, compared to analysts’ expectations of $3.44 billion. FOX had a return on equity of 15.90% and a net margin of 11.19%. Analysts anticipate that Fox Co. will post 3.33 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 Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.