Fox Co. (NASDAQ:FOXA) Shares Sold by Jacobs Levy Equity Management Inc.

Jacobs Levy Equity Management Inc. cut its position in shares of Fox Co. (NASDAQ:FOXA) by 12.9% in the 1st quarter, HoldingsChannel.com reports. The fund owned 876,890 shares of the company’s stock after selling 130,190 shares during the period. Jacobs Levy Equity Management Inc.’s holdings in FOX were worth $27,420,000 at the end of the most recent quarter.

A number of other large investors also recently modified their holdings of FOXA. Cornercap Investment Counsel Inc. increased its position in shares of FOX by 0.8% in the fourth quarter. Cornercap Investment Counsel Inc. now owns 41,656 shares of the company’s stock worth $1,236,000 after acquiring an additional 324 shares in the last quarter. Park Avenue Securities LLC grew its holdings in FOX by 1.7% during the 1st quarter. Park Avenue Securities LLC now owns 18,908 shares of the company’s stock valued at $591,000 after purchasing an additional 324 shares in the last quarter. Bessemer Group Inc. increased its stake in FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after buying an additional 326 shares during the period. Global Retirement Partners LLC boosted its position in FOX by 38.4% in the 1st quarter. Global Retirement Partners LLC now owns 1,305 shares of the company’s stock valued at $41,000 after buying an additional 362 shares during the last quarter. Finally, Verdence Capital Advisors LLC grew its stake in shares of FOX by 3.0% during the fourth quarter. Verdence Capital Advisors LLC now owns 13,243 shares of the company’s stock valued at $393,000 after acquiring an additional 384 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have weighed in on FOXA shares. Bank of America upgraded FOX from a “neutral” rating to a “buy” rating and raised their price objective for the company from $34.00 to $40.00 in a research note on Thursday, May 9th. Macquarie increased their price objective on shares of FOX from $30.00 to $32.00 and gave the company a “neutral” rating in a research note on Monday, May 13th. The Goldman Sachs Group restated a “buy” rating and issued a $42.00 target price on shares of FOX in a research note on Monday, July 1st. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $38.00 to $39.00 and gave the company a “buy” rating in a report on Thursday, May 9th. Finally, Rosenblatt Securities reiterated a “neutral” rating and issued a $34.00 target price on shares of FOX in a research report on Monday, April 15th. One research analyst has rated the stock with a sell rating, nine have assigned a hold rating and five have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of “Hold” and an average target price of $35.38.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 13,176 shares of FOX stock in a transaction dated Wednesday, May 15th. The stock was sold at an average price of $30.89, for a total value of $407,006.64. Following the transaction, the chairman now owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In other FOX news, Chairman Keith Rupert Murdoch sold 13,176 shares of the business’s stock in a transaction on Wednesday, May 15th. The shares were sold at an average price of $30.89, for a total transaction of $407,006.64. Following the sale, the chairman now directly owns 1,408,862 shares of the company’s stock, valued at approximately $43,519,747.18. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, CFO Steven Tomsic sold 30,000 shares of the firm’s stock in a transaction on Friday, June 7th. The stock was sold at an average price of $34.26, for a total value of $1,027,800.00. Following the completion of the sale, the chief financial officer now directly owns 110,568 shares of the company’s stock, valued at approximately $3,788,059.68. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOXA traded up $0.63 during mid-day trading on Tuesday, reaching $38.42. 1,921,414 shares of the company traded hands, compared to its average volume of 3,056,813. The firm has a market cap of $17.93 billion, a PE ratio of 11.85, a price-to-earnings-growth ratio of 1.49 and a beta of 0.77. The company has a debt-to-equity ratio of 0.67, a current ratio of 3.24 and a quick ratio of 2.94. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $38.55. The stock has a fifty day simple moving average of $34.79 and a 200-day simple moving average of $32.28.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Wednesday, May 8th. The company reported $1.09 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.98 by $0.11. The company had revenue of $3.45 billion for the quarter, compared to analysts’ expectations of $3.44 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. Equities research analysts anticipate that Fox Co. will post 3.35 EPS for the current fiscal year.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.