Woodline Partners LP Increases Stake in Fox Co. (NASDAQ:FOXA)

Woodline Partners LP boosted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 2.3% during the fourth quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The institutional investor owned 653,889 shares of the company’s stock after buying an additional 14,536 shares during the quarter. Woodline Partners LP’s holdings in FOX were worth $31,766,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently added to or reduced their stakes in FOXA. Pacer Advisors Inc. boosted its holdings in FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock valued at $405,194,000 after purchasing an additional 425,186 shares during the period. Dimensional Fund Advisors LP raised its position in FOX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after purchasing an additional 39,959 shares in the last quarter. Northern Trust Corp boosted its stake in shares of FOX by 17.1% in the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock valued at $170,111,000 after buying an additional 511,554 shares during the period. Norges Bank acquired a new position in shares of FOX during the fourth quarter worth about $132,161,000. Finally, Amundi increased its stake in shares of FOX by 9.9% during the fourth quarter. Amundi now owns 2,434,443 shares of the company’s stock worth $119,006,000 after buying an additional 219,380 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now 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 legal filing with the SEC, which is available at the SEC website. 21.77% of the stock is owned by company insiders.

FOX Trading Up 1.2%

NASDAQ:FOXA opened at $56.50 on Wednesday. The company has a market capitalization of $25.40 billion, a PE ratio of 12.10, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 52-week low of $32.51 and a 52-week high of $58.74. The stock’s 50 day moving average price is $51.52 and its 200 day moving average price is $50.54. 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 announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.93 by $0.17. The business had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.14 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company’s revenue for the quarter was up 26.8% compared to the same quarter last year. During the same period last year, the firm posted $1.40 earnings per share. On average, research analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports 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. The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the stock a “buy” rating in a research report on Tuesday, February 4th. Morgan Stanley boosted their target price on shares of FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a research note on Tuesday, May 13th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and increased their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Finally, Wells Fargo & Company lifted their price target on FOX from $58.00 to $62.00 and gave the stock an “overweight” rating in a report on Tuesday, May 13th. Two investment 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. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and a consensus target price of $52.71.

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.