Glenmede Trust Co. NA Grows Holdings in Fox Co. (NASDAQ:FOXA)

Glenmede Trust Co. NA grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 244.0% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 389,470 shares of the company’s stock after purchasing an additional 276,259 shares during the quarter. Glenmede Trust Co. NA’s holdings in FOX were worth $16,486,000 at the end of the most recent quarter.

Other hedge funds have also recently made changes to their positions in the company. Independent Franchise Partners LLP boosted its position in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares during the period. LSV Asset Management boosted its holdings in shares of FOX by 5.9% in the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock valued at $294,816,000 after purchasing an additional 481,267 shares during the period. Pacer Advisors Inc. grew its stake in FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares in the last quarter. Dimensional Fund Advisors LP increased its holdings in FOX by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after purchasing an additional 268,778 shares during the period. Finally, D. E. Shaw & Co. Inc. raised its position in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after purchasing an additional 492,467 shares in the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

Several equities analysts have recently commented on FOXA shares. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a research report on Monday. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Finally, Barclays upped their target price on FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $44.00.

FOX Stock Up 1.2 %

FOXA stock opened at $46.71 on Friday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The stock has a market capitalization of $21.33 billion, a PE ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. The firm has a 50 day moving average of $43.36 and a 200 day moving average of $39.01.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The firm had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period in the previous year, the company earned $1.09 earnings per share. Sell-side analysts forecast that Fox Co. will post 3.94 earnings per share for the current year.

Insider Buying and Selling at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction on 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 completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by insiders.

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.