Fox Co. (NASDAQ:FOXA) Shares Purchased by Millennium Management LLC

Millennium Management LLC increased its holdings in Fox Co. (NASDAQ:FOXA) by 16.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The firm owned 1,309,332 shares of the company’s stock after buying an additional 181,017 shares during the quarter. Millennium Management LLC’s holdings in FOX were worth $63,607,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Principal Financial Group Inc. increased its stake in shares of FOX by 0.4% in the third quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock worth $12,320,000 after acquiring an additional 1,178 shares during the period. Czech National Bank grew its position in FOX by 4.8% during the 4th quarter. Czech National Bank now owns 47,951 shares of the company’s stock worth $2,329,000 after purchasing an additional 2,189 shares during the period. Brookstone Capital Management purchased a new position in shares of FOX during the 4th quarter valued at about $492,000. Kathmere Capital Management LLC raised its stake in shares of FOX by 9.0% during the 4th 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. Finally, Park Avenue Securities LLC lifted its holdings in shares of FOX by 32.4% in the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after buying an additional 3,787 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analyst Ratings Changes

Several analysts recently commented on FOXA shares. JPMorgan Chase & Co. raised their target price on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a report on Wednesday, February 5th. Guggenheim reaffirmed a “buy” rating and set a $60.00 price objective on shares of FOX in a research note on Tuesday, March 25th. UBS Group lifted their target price on shares of FOX from $61.00 to $63.00 and gave the company a “buy” rating in a report on Tuesday. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $52.00 in a research note on Tuesday, January 21st. Finally, Morgan Stanley raised their price target on shares of FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have given a buy rating to the company. According to MarketBeat.com, the company presently has an average rating of “Hold” and an average target price of $52.71.

FOX Stock Up 1.5%

FOXA stock opened at $55.46 on Friday. The stock has a market capitalization of $25.15 billion, a P/E ratio of 11.88, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 52 week low of $32.45 and a 52 week high of $58.74. The firm has a 50-day simple moving average of $51.27 and a 200-day simple moving average of $50.19. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

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

Insider Buying and Selling

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this link. 21.77% of the stock is owned by company 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.