Fox Co. (NASDAQ:FOXA) Shares Bought by BNP Paribas Financial Markets

by · The Markets Daily

BNP Paribas Financial Markets raised its position in Fox Co. (NASDAQ:FOXA – Free Report) by 22.8% in the third quarter, Holdings Channel reports. The institutional investor owned 822,132 shares of the company’s stock after purchasing an additional 152,508 shares during the period. BNP Paribas Financial Markets’ holdings in FOX were worth $34,801,000 as of its most recent filing with the SEC.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP increased its holdings in FOX by 3.3% in the second 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 in the last quarter. LSV Asset Management increased its holdings in 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 buying an additional 481,267 shares in the last quarter. Pacer Advisors Inc. increased its holdings in FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after buying an additional 7,897,710 shares in the last quarter. Dimensional Fund Advisors LP increased its stake in shares of FOX by 7.7% during the second 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 in the last quarter. Finally, D. E. Shaw & Co. Inc. increased its stake in shares of FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock worth $83,208,000 after purchasing an additional 492,467 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

NASDAQ:FOXA opened at $47.12 on Friday. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 1.20 and a beta of 0.76. The company’s 50-day moving average is $43.50 and its two-hundred day moving average is $39.10. Fox Co. has a 1-year low of $28.28 and a 1-year high of $47.58.

FOX (NASDAQ:FOXA – Get Free Report) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating the consensus estimate of $1.12 by $0.33. The company 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%. FOX’s revenue was up 11.1% on a year-over-year basis. During the same period in the previous year, the business posted $1.09 EPS. Analysts forecast that Fox Co. will post 3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

FOXA has been the subject of a number of research reports. The Goldman Sachs Group boosted their target price on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company boosted their target price on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Loop Capital boosted their target price on shares of FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a research note on Tuesday, October 8th. Morgan Stanley boosted their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Finally, Cfra reissued a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. According to MarketBeat, the company currently has a consensus rating of “Hold” and an average price target of $44.00.

Check Out Our Latest Report on FOX

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, COO John Nallen sold 182,481 shares of the 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 directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

FOX Profile

(Free Report)

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.

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