Knights of Columbus Asset Advisors LLC acquired a new stake in Fox Corporation (NASDAQ:FOXA – Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 8,839 shares of the company’s stock, valued at approximately $646,000.
Other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Winnow Wealth LLC purchased a new stake in FOX in the third quarter valued at approximately $1,238,000. BI Asset Management Fondsmaeglerselskab A S lifted its stake in FOX by 23.0% in the third quarter. BI Asset Management Fondsmaeglerselskab A S now owns 150,522 shares of the company’s stock valued at $9,492,000 after buying an additional 28,118 shares during the last quarter. SG Americas Securities LLC lifted its stake in FOX by 346.6% in the fourth quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock valued at $9,355,000 after buying an additional 99,363 shares during the last quarter. Bank of New York Mellon Corp raised its stake in shares of FOX by 0.9% during the third quarter. Bank of New York Mellon Corp now owns 1,924,975 shares of the company’s stock worth $121,389,000 after purchasing an additional 16,757 shares during the last quarter. Finally, Strs Ohio raised its stake in shares of FOX by 7.6% during the fourth quarter. Strs Ohio now owns 332,444 shares of the company’s stock worth $24,292,000 after purchasing an additional 23,475 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.
FOX Trading Down 2.9%
Shares of FOXA stock opened at $63.92 on Friday. The business’s fifty day moving average price is $62.52 and its 200 day moving average price is $65.10. Fox Corporation has a 1-year low of $52.96 and a 1-year high of $76.39. The firm has a market capitalization of $26.86 billion, a PE ratio of 16.87, a P/E/G ratio of 3.42 and a beta of 0.52. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.
Analysts Set New Price Targets
Several equities research analysts have recently commented on the company. Barclays upped their price target on FOX from $63.00 to $67.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Deutsche Bank Aktiengesellschaft restated a “buy” rating and set a $79.00 price target on shares of FOX in a research note on Tuesday, May 12th. The Goldman Sachs Group restated a “buy” rating and set a $80.00 price target on shares of FOX in a research note on Wednesday, February 4th. Wells Fargo & Company upped their price target on FOX from $67.00 to $71.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 12th. Finally, Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a research note on Wednesday, May 13th. One research analyst has rated the stock with a Strong Buy rating, seven have assigned a Buy rating, eight have given a Hold rating and one has assigned a Sell rating to the company. According to MarketBeat, FOX has an average rating of “Hold” and a consensus target price of $74.86.
Insiders Place Their Bets
In other FOX news, COO John Nallen sold 242,309 shares of the company’s stock in a transaction on Wednesday, March 11th. The stock was sold at an average price of $57.74, for a total value of $13,990,921.66. Following the sale, the chief operating officer owned 357,653 shares of the company’s stock, valued at approximately $20,650,884.22. This represents a 40.39% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch sold 637,752 shares of the company’s stock in a transaction on Friday, March 13th. The shares were sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. This trade represents a 99.98% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold 1,586,871 shares of company stock worth $91,893,926 in the last ninety days. 19.68% of the stock is currently owned by corporate insiders.
FOX Company Profile
Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.
Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.
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