BNP Paribas Financial Markets Increases Stock Holdings in Fox Co. (NASDAQ:FOXA)

BNP Paribas Financial Markets lifted its stake in shares of Fox Co. (NASDAQ:FOXA) by 54.8% in the 4th quarter, Holdings Channel reports. The institutional investor owned 1,272,764 shares of the company’s stock after acquiring an additional 450,632 shares during the quarter. BNP Paribas Financial Markets’ holdings in FOX were worth $61,831,000 as of its most recent SEC filing.

Other hedge funds have also recently modified their holdings of the company. WealthTrak Capital Management LLC purchased a new position in shares of FOX during the fourth quarter worth about $26,000. SRS Capital Advisors Inc. grew its stake in FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock worth $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the fourth quarter valued at approximately $28,000. Jones Financial Companies Lllp boosted its holdings in shares of FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after acquiring an additional 249 shares during the period. Finally, CIBC Private Wealth Group LLC grew its position in shares of FOX by 122.3% during the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock worth $33,000 after acquiring an additional 368 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insiders Place Their Bets

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. 21.77% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

A number of analysts recently weighed in on the stock. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a research note on Monday, April 7th. Wells Fargo & Company decreased their target price on shares of FOX from $63.00 to $58.00 and set an “overweight” rating for the company in a research note on Thursday, April 17th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Loop Capital lifted their target price on FOX from $60.00 to $62.00 and gave the company a “buy” rating in a research note on Tuesday, April 1st. Finally, JPMorgan Chase & Co. upped their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Two investment analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat, the company currently has a consensus rating of “Hold” and an average target price of $51.65.

FOX Stock Performance

NASDAQ FOXA opened at $49.54 on Wednesday. The business has a 50 day moving average price of $51.74 and a 200 day moving average price of $49.72. The company has a market capitalization of $22.46 billion, a P/E ratio of 10.61, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 1-year low of $31.71 and a 1-year high of $58.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue was up 19.9% on a year-over-year basis. During the same quarter in the previous year, the company posted $0.34 EPS. Sell-side analysts expect that Fox Co. will post 4.38 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.