Commerce Bank Invests $301,000 in Fox Co. (NASDAQ:FOXA)

Commerce Bank bought a new position in Fox Co. (NASDAQ:FOXA) in the third quarter, Holdings Channel.com reports. The firm bought 7,116 shares of the company’s stock, valued at approximately $301,000.

Other institutional investors and hedge funds have also recently made changes to their positions in the company. Independent Franchise Partners LLP raised its holdings in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after buying an additional 597,450 shares during the last quarter. LSV Asset Management raised its holdings in FOX by 5.9% in the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock valued at $294,816,000 after buying an additional 481,267 shares during the last quarter. Dimensional Fund Advisors LP raised its holdings in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after buying an additional 268,778 shares during the last quarter. D. E. Shaw & Co. Inc. raised its holdings in FOX by 25.5% in 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 buying an additional 492,467 shares during the last quarter. Finally, Thompson Siegel & Walmsley LLC raised its holdings in FOX by 2.8% in the 2nd quarter. Thompson Siegel & Walmsley LLC now owns 1,579,272 shares of the company’s stock valued at $54,280,000 after buying an additional 42,424 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $46.71 on Thursday. The company has a market cap of $21.33 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The firm has a 50 day moving average of $43.24 and a 200-day moving average of $38.95.

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

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction 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 $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $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. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 in the last ninety days. Corporate insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of research analysts recently issued reports on the stock. Bank of America raised their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Wells Fargo & Company increased their target price on shares of FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a research report on Tuesday, November 5th. Macquarie reissued a “neutral” rating and set a $43.00 target price on shares of FOX in a research report on Tuesday, November 5th. Loop Capital increased their target price on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. Finally, UBS Group increased their target price on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the stock. Based on data from MarketBeat.com, the company currently has an average rating of “Hold” and a consensus price target of $44.00.

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.