Teachers Retirement System of The State of Kentucky Has $26.90 Million Stock Holdings in Fox Co. (NASDAQ:FOXA)

Teachers Retirement System of The State of Kentucky reduced its position in Fox Co. (NASDAQ:FOXA) by 10.8% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 635,511 shares of the company’s stock after selling 77,082 shares during the quarter. Teachers Retirement System of The State of Kentucky owned about 0.14% of FOX worth $26,901,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds have also modified their holdings of FOXA. Quest Partners LLC acquired a new position in shares of FOX during the third quarter worth $51,000. Duncker Streett & Co. Inc. purchased a new position in shares of FOX during the second quarter valued at approximately $52,000. Quarry LP bought a new stake in shares of FOX in the 3rd quarter worth $70,000. Transamerica Financial Advisors Inc. purchased a new stake in FOX in the 3rd quarter valued at about $119,000. Finally, Exchange Traded Concepts LLC bought a new stake in FOX during the third quarter worth $141,000. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Performance

Shares of FOXA opened at $46.37 on Wednesday. Fox Co. has a one year low of $28.28 and a one year high of $47.58. The firm has a market capitalization of $21.18 billion, a PE ratio of 11.34, a price-to-earnings-growth ratio of 1.21 and a beta of 0.77. The company has a 50-day simple moving average of $44.04 and a two-hundred day simple moving average of $39.77. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping 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 for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the firm earned $1.09 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. On average, analysts anticipate that Fox Co. will post 3.94 EPS for the current fiscal year.

Analysts Set New Price Targets

FOXA has been the subject of several research analyst reports. Barclays raised 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. The Goldman Sachs Group increased their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley upped their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a report on Friday, November 1st. Wells Fargo & Company lifted 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. Finally, Bank of America increased their price objective on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a research report on Wednesday, September 25th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company has an average rating of “Hold” and a consensus price target of $44.00.

Insider Activity at FOX

In related news, COO John Nallen sold 182,481 shares of the stock in a transaction that occurred 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a document filed 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 stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last 90 days. Corporate insiders own 21.77% of the company’s stock.

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.