Geode Capital Management LLC Purchases 56,071 Shares of Fox Corporation $FOX

Geode Capital Management LLC lifted its holdings in Fox Corporation (NASDAQ:FOX) by 1.7% in the second quarter, HoldingsChannel reports. The firm owned 3,442,903 shares of the company’s stock after purchasing an additional 56,071 shares during the quarter. Geode Capital Management LLC’s holdings in FOX were worth $177,024,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the business. Charles Schwab Investment Management Inc. raised its holdings in FOX by 13.4% during the 1st quarter. Charles Schwab Investment Management Inc. now owns 43,126 shares of the company’s stock valued at $2,273,000 after buying an additional 5,089 shares during the period. Cerity Partners LLC bought a new position in FOX during the first quarter valued at $360,000. Atria Wealth Solutions Inc. purchased a new stake in shares of FOX in the first quarter valued at $423,000. Maven Securities LTD bought a new stake in shares of FOX in the 1st quarter worth about $5,237,000. Finally, UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its stake in shares of FOX by 15.2% during the 1st quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,633,430 shares of the company’s stock worth $86,098,000 after purchasing an additional 215,477 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

A number of analysts recently weighed in on FOX shares. Fox Advisors set a $97.00 price objective on shares of FOX in a research report on Tuesday, October 28th. Cfra reaffirmed a “buy” rating and set a $73.00 target price on shares of FOX in a research note on Monday, November 3rd. UBS Group reissued a “buy” rating on shares of FOX in a research note on Friday, October 31st. Zacks Research upgraded FOX from a “hold” rating to a “strong-buy” rating in a report on Tuesday, October 7th. Finally, Weiss Ratings reiterated a “buy (b)” rating on shares of FOX in a research note on Friday, October 31st. One research analyst has rated the stock with a Strong Buy rating, three have given a Buy rating and one has issued a Hold rating to the stock. According to data from MarketBeat.com, the company has an average rating of “Buy” and an average target price of $81.67.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, CFO Steven Tomsic sold 138,397 shares of the stock in a transaction that occurred on Monday, November 10th. The shares were sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the transaction, the chief financial officer owned 180,556 shares in the company, valued at approximately $12,014,196.24. This represents a 43.39% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 324,920 shares of company stock worth $21,485,254 in the last three months. Corporate insiders own 23.06% of the company’s stock.

FOX Trading Down 0.7%

FOX opened at $58.06 on Tuesday. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The stock’s fifty day moving average is $55.08 and its two-hundred day moving average is $52.62. The company has a market capitalization of $25.78 billion, a P/E ratio of 13.05, a PEG ratio of 1.30 and a beta of 0.57. Fox Corporation has a 52 week low of $42.20 and a 52 week high of $60.73.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $1.06 by $0.45. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%. Analysts forecast that Fox Corporation will post 4.25 earnings per share for the current year.

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.