Fox Co. (NASDAQ:FOXA) Shares Purchased by Citigroup Inc.

Citigroup Inc. grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 35.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 593,104 shares of the company’s stock after purchasing an additional 154,680 shares during the quarter. Citigroup Inc. owned 0.13% of FOX worth $25,106,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently modified their holdings of FOXA. Independent Franchise Partners LLP increased its stake in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after buying an additional 597,450 shares during the period. LSV Asset Management increased its position in shares of FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after acquiring an additional 481,267 shares during the last quarter. Pacer Advisors Inc. lifted its stake in shares of FOX by 44,205.3% in the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after acquiring an additional 7,897,710 shares in the last quarter. Dimensional Fund Advisors LP boosted its holdings in FOX by 7.7% in the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after purchasing an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. grew its stake in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $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.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction dated 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 sale, 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 three months, insiders sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $46.15 on Wednesday. The firm has a fifty day moving average of $43.12 and a 200-day moving average of $38.90. The company has a market cap of $21.08 billion, a price-to-earnings ratio of 11.28, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58.

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 analyst estimates of $3.38 billion. During the same period in the previous year, the business posted $1.09 EPS. FOX’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts anticipate that Fox Co. will post 3.94 earnings per share for the current year.

Analyst Ratings Changes

Several research firms have recently commented on FOXA. Bank of America increased their target price on FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Wednesday, September 25th. Guggenheim increased their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. 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 report on Tuesday, November 5th. Wells Fargo & Company lifted their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research note on Tuesday, November 5th. Finally, TD Cowen upped their price objective on FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $44.00.

FOX 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.