Nissay Asset Management Corp Japan ADV Trims Position in Fox Co. (NASDAQ:FOXA)

Nissay Asset Management Corp Japan ADV trimmed its holdings in Fox Co. (NASDAQ:FOXA) by 4.1% in the fourth quarter, according to its most recent disclosure with the SEC. The fund owned 31,023 shares of the company’s stock after selling 1,342 shares during the period. Nissay Asset Management Corp Japan ADV’s holdings in FOX were worth $1,535,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also made changes to their positions in the business. CIBC Private Wealth Group LLC increased its stake 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 period. Asset Management One Co. Ltd. increased its stake in shares of FOX by 25.0% during the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock worth $5,856,000 after acquiring an additional 23,704 shares during the period. Park Avenue Securities LLC increased its stake in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after acquiring an additional 3,787 shares during the period. Brookstone Capital Management acquired a new position in shares of FOX during the fourth quarter worth about $492,000. Finally, Proficio Capital Partners LLC acquired a new position in shares of FOX during the fourth quarter worth about $7,767,000. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of recent analyst reports. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the stock a “buy” rating in a research note on Tuesday, February 4th. Morgan Stanley upped their target price on shares of FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research report on Tuesday, May 13th. Cowen restated a “hold” rating on shares of FOX in a research report on Tuesday. UBS Group upped their target price on shares of FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research report on Tuesday, May 13th. Finally, Guggenheim restated a “buy” rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. Two equities research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the company presently has a consensus rating of “Hold” and an average price target of $52.71.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ:FOXA opened at $56.08 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market cap of $25.21 billion, a P/E ratio of 12.01, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a fifty-two week low of $32.51 and a fifty-two week high of $58.74. The firm’s 50 day moving average is $51.34 and its two-hundred day moving average is $50.34.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.17. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same quarter in the prior year, the business earned $1.40 earnings per share. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. Analysts expect that Fox Co. will post 4.38 EPS for the current year.

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.