Nomura Asset Management Co. Ltd. Increases Position in Fox Co. (NASDAQ:FOXA)

Nomura Asset Management Co. Ltd. raised its position in shares of Fox Co. (NASDAQ:FOXA) by 0.9% in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 69,082 shares of the company’s stock after buying an additional 590 shares during the period. Nomura Asset Management Co. Ltd.’s holdings in FOX were worth $2,924,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of the company. iA Global Asset Management Inc. boosted its holdings in FOX by 241,314.3% during the 3rd quarter. iA Global Asset Management Inc. now owns 16,899 shares of the company’s stock valued at $715,000 after acquiring an additional 16,892 shares during the period. Worldquant Millennium Advisors LLC boosted its stake in shares of FOX by 220.9% in the third quarter. Worldquant Millennium Advisors LLC now owns 107,631 shares of the company’s stock valued at $4,556,000 after purchasing an additional 74,095 shares during the period. Sora Investors LLC purchased a new position in shares of FOX in the third quarter valued at approximately $3,175,000. Stevens Capital Management LP acquired a new position in shares of FOX in the third quarter valued at approximately $321,000. Finally, Quantinno Capital Management LP increased its stake in FOX by 18.1% during the 3rd quarter. Quantinno Capital Management LP now owns 126,941 shares of the company’s stock worth $5,373,000 after buying an additional 19,421 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $47.08 on Friday. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.67. The firm has a market capitalization of $21.50 billion, a P/E ratio of 11.51, a P/E/G ratio of 1.18 and a beta of 0.77. 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 company’s fifty day moving average price is $44.42 and its 200 day moving average price is $40.09.

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

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction that occurred 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 completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Over the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

Several equities analysts have commented on the stock. Barclays boosted their price target on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Morgan Stanley boosted their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Evercore ISI raised FOX to a “hold” rating in a research report on Tuesday, November 5th. The Goldman Sachs Group boosted their price objective on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Finally, Loop Capital raised their target price on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. According to MarketBeat, FOX has an average rating of “Hold” and a consensus price target of $44.00.

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.