Kentucky Retirement Systems Insurance Trust Fund Reduces Holdings in Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems Insurance Trust Fund trimmed its position in shares of Fox Co. (NASDAQ:FOXA) by 10.8% in the 3rd quarter, according to its most recent disclosure with the SEC. The institutional investor owned 6,651 shares of the company’s stock after selling 805 shares during the quarter. Kentucky Retirement Systems Insurance Trust Fund’s holdings in FOX were worth $282,000 as of its most recent filing with the SEC.

Other large investors have also recently made changes to their positions in the company. Massmutual Trust Co. FSB ADV increased its position in shares of FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares in the last quarter. Friedenthal Financial purchased a new stake in shares of FOX during the second quarter worth approximately $51,000. Duncker Streett & Co. Inc. purchased a new stake in FOX in the 2nd quarter valued at $52,000. Covestor Ltd grew its holdings in FOX by 283.0% in the 1st quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after buying an additional 2,128 shares in the last quarter. Finally, Bessemer Group Inc. grew its holdings in FOX by 11.0% in the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after buying an additional 326 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

FOXA opened at $45.76 on Wednesday. The stock’s 50-day moving average price is $42.45 and its 200 day moving average price is $38.43. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. The firm has a market cap of $20.90 billion, a price-to-earnings ratio of 11.19, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly 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 return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the company earned $1.09 EPS. FOX’s revenue for the quarter was up 11.1% compared to the same quarter last year. As a group, sell-side analysts expect that Fox Co. will post 3.94 earnings per share for the current year.

Analyst Ratings Changes

FOXA has been the subject of several analyst reports. Macquarie restated a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Bank of America upped their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. TD Cowen upped their target price on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Guggenheim upped their price target on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Finally, JPMorgan Chase & Co. upped their price target on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a research note on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have issued a buy rating to the company. According to MarketBeat.com, the stock currently has a consensus rating of “Hold” and an average price target of $44.00.

Insider Buying and Selling

In other FOX news, 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 value of $4,205,000.00. Following the transaction, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 completion of the transaction, the chief operating officer now 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. 21.77% of the stock is currently owned by company insiders.

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.