Park Avenue Securities LLC Raises Position in Fox Co. (NASDAQ:FOXA)

Park Avenue Securities LLC raised its position in shares of Fox Co. (NASDAQ:FOXA) by 32.4% during the fourth quarter, HoldingsChannel reports. The firm owned 15,481 shares of the company’s stock after purchasing an additional 3,787 shares during the period. Park Avenue Securities LLC’s holdings in FOX were worth $752,000 at the end of the most recent reporting period.

Other large investors have also added to or reduced their stakes in the company. Kathmere Capital Management LLC grew its stake in shares of FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after buying an additional 431 shares during the last quarter. Brookstone Capital Management bought a new stake in shares of FOX in the fourth quarter worth about $492,000. Czech National Bank boosted its position in FOX by 4.8% during the 4th quarter. Czech National Bank now owns 47,951 shares of the company’s stock valued at $2,329,000 after acquiring an additional 2,189 shares in the last quarter. CWA Asset Management Group LLC bought a new stake in FOX during the 4th quarter valued at approximately $1,427,000. Finally, GAMMA Investing LLC lifted its holdings in shares of FOX by 28.4% during the fourth quarter. GAMMA Investing LLC now owns 7,069 shares of the company’s stock valued at $343,000 after purchasing an additional 1,564 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

Several research firms have recently issued reports on FOXA. Bank of America lifted their target price on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Barclays lifted their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a report on Friday, November 1st. Finally, Loop Capital upped their target price on shares of FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a report on Wednesday, December 18th. Two equities research analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have given a buy rating to the company. According to data from MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $48.25.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated Tuesday, November 5th. The shares were 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. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by company insiders.

FOX Trading Down 0.2 %

NASDAQ FOXA opened at $47.90 on Wednesday. The company has a fifty day simple moving average of $47.76 and a two-hundred day simple moving average of $42.84. The stock has a market cap of $21.88 billion, a P/E ratio of 11.71, a P/E/G ratio of 1.19 and a beta of 0.75. Fox Co. has a 12-month low of $28.28 and a 12-month high of $50.63. 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 (NASDAQ:FOXA) last issued its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. The firm had revenue of $3.56 billion during 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 firm’s revenue was up 11.1% compared to the same quarter last year. During the same quarter last year, the company posted $1.09 earnings per share. On average, analysts forecast that Fox Co. will post 4.09 earnings per share for the current 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.