Principal Financial Group Inc. Raises Stock Holdings in Fox Co. (NASDAQ:FOXA)

Principal Financial Group Inc. grew its holdings in Fox Co. (NASDAQ:FOXA) by 0.4% in the third quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 291,051 shares of the company’s stock after buying an additional 1,178 shares during the quarter. Principal Financial Group Inc. owned 0.06% of FOX worth $12,320,000 as of its most recent SEC filing.

Several other large investors have also made changes to their positions in the business. Mitsubishi UFJ Trust & Banking Corp increased its holdings in FOX by 31.1% in the 1st quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock worth $15,523,000 after acquiring an additional 117,458 shares in the last quarter. Jane Street Group LLC raised its position in shares of FOX by 25.2% during the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,072 shares during the last quarter. UniSuper Management Pty Ltd lifted its stake in FOX by 565.6% in the 1st quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after buying an additional 20,250 shares in the last quarter. CreativeOne Wealth LLC acquired a new stake in FOX in the 1st quarter worth about $609,000. Finally, Edgestream Partners L.P. increased its stake in FOX by 283.7% during the 1st quarter. Edgestream Partners L.P. now owns 46,029 shares of the company’s stock worth $1,439,000 after buying an additional 34,034 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Down 3.9 %

Shares of NASDAQ:FOXA opened at $45.64 on Friday. The company has a market capitalization of $21.00 billion, a price-to-earnings ratio of 11.16, a PEG ratio of 1.20 and a beta of 0.76. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The business has a 50-day moving average price of $42.23 and a 200 day moving average price of $38.14. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion during the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue for the quarter was up 11.1% on a year-over-year basis. During the same period last year, the business earned $1.09 earnings per share. Sell-side analysts expect that Fox Co. will post 3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of research analyst reports. The Goldman Sachs Group lifted 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. Evercore ISI upgraded shares of FOX to a “hold” rating in a research report on Tuesday, November 5th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Finally, Morgan Stanley raised their target price on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One equities research analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Hold” and a consensus price target of $44.00.

Insider Buying and Selling at FOX

In other news, COO John Nallen sold 182,481 shares of FOX stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction dated 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. The trade was a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by corporate insiders.

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.