Fox Co. (NASDAQ:FOXA) Shares Sold by Nordea Investment Management AB

Nordea Investment Management AB cut its stake in Fox Co. (NASDAQ:FOXA) by 2.6% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 20,724 shares of the company’s stock after selling 552 shares during the quarter. Nordea Investment Management AB’s holdings in FOX were worth $1,013,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also modified their holdings of the company. Quest Partners LLC purchased a new position in shares of FOX during the 3rd quarter worth $51,000. Quarry LP purchased a new position in shares of FOX during the 3rd quarter worth $70,000. Versant Capital Management Inc grew its holdings in shares of FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after purchasing an additional 1,669 shares during the period. Transamerica Financial Advisors Inc. purchased a new position in shares of FOX during the 3rd quarter worth $119,000. Finally, Exchange Traded Concepts LLC purchased a new position in shares of FOX during the 3rd quarter worth $141,000. 52.52% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on 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 SEC, which is available through this link. Also, COO John Nallen sold 182,481 shares of the company’s 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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last 90 days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

Wall Street Analyst Weigh In

A number of equities analysts recently commented on the company. Deutsche Bank Aktiengesellschaft raised their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. Morgan Stanley increased their price target on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Guggenheim increased their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Finally, Cfra reaffirmed a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Two research analysts have rated the stock with a sell rating, nine have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock currently has a consensus rating of “Hold” and an average price target of $47.53.

FOX Stock Down 1.6 %

FOX stock opened at $48.19 on Monday. 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 capitalization of $22.01 billion, a price-to-earnings ratio of 11.78, a price-to-earnings-growth ratio of 1.21 and a beta of 0.75. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The stock’s fifty day moving average is $47.31 and its two-hundred day moving average is $42.25.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. FOX’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the prior year, the company earned $1.09 earnings per share. Analysts predict that Fox Co. will post 3.94 EPS for the current fiscal 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.