World Investment Advisors LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

World Investment Advisors LLC purchased a new stake in Fox Co. (NASDAQ:FOXA) in the third quarter, according to its most recent Form 13F filing with the SEC. The institutional investor purchased 84,729 shares of the company’s stock, valued at approximately $3,587,000.

Several other large investors also recently made changes to their positions in the business. Entropy Technologies LP acquired a new stake in FOX during the third quarter valued at approximately $546,000. B. Metzler seel. Sohn & Co. Holding AG acquired a new stake in shares of FOX during the 3rd quarter valued at $2,867,000. Invst LLC acquired a new stake in shares of FOX during the 3rd quarter valued at $740,000. Edgestream Partners L.P. grew its holdings in shares of FOX by 343.1% in the 2nd quarter. Edgestream Partners L.P. now owns 203,956 shares of the company’s stock worth $7,010,000 after acquiring an additional 157,927 shares during the last quarter. Finally, Teachers Retirement System of The State of Kentucky raised its position in shares of FOX by 9.7% during the second quarter. Teachers Retirement System of The State of Kentucky now owns 712,593 shares of the company’s stock worth $24,492,000 after purchasing an additional 62,920 shares during the period. Institutional investors own 52.52% of the company’s stock.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on the company. Bank of America increased their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Macquarie restated a “neutral” rating and set a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. TD Cowen raised their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research note on Tuesday, November 5th. Finally, Barclays boosted their target price on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research note on Wednesday, October 9th. One equities research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the company’s stock. Based on data from MarketBeat, the company has an average rating of “Hold” and a consensus target price of $44.00.

Insider Activity at FOX

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following 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 transaction was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The disclosure for this sale can be found here. In the last 90 days, insiders sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

FOX Stock Down 0.5 %

Shares of FOX stock opened at $47.08 on Friday. The firm has a market cap of $21.50 billion, a price-to-earnings ratio of 11.51, a P/E/G ratio of 1.18 and a beta of 0.77. The stock has a 50-day simple moving average of $44.42 and a 200-day simple moving average of $40.04. Fox Co. has a 52-week low of $28.28 and a 52-week high of $47.67. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last posted its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The firm had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the company earned $1.09 earnings per share. The company’s revenue was up 11.1% compared to the same quarter last year. On average, equities research analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

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.