AustralianSuper Pty Ltd Has $109.87 Million Stock Holdings in Fox Co. (NASDAQ:FOXA)

AustralianSuper Pty Ltd lowered its stake in shares of Fox Co. (NASDAQ:FOXA) by 6.9% in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The firm owned 2,595,537 shares of the company’s stock after selling 192,914 shares during the period. AustralianSuper Pty Ltd owned about 0.56% of FOX worth $109,869,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds have also modified their holdings of FOXA. Massmutual Trust Co. FSB ADV increased its holdings in FOX by 176.6% in the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after buying an additional 461 shares during the last quarter. Friedenthal Financial bought a new position in shares of FOX during the 2nd quarter valued at $51,000. Duncker Streett & Co. Inc. acquired a new stake in shares of FOX in the 2nd quarter valued at $52,000. Meeder Asset Management Inc. bought a new stake in FOX in the first quarter worth $66,000. Finally, Covestor Ltd increased its position in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after buying an additional 2,128 shares during the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ:FOXA traded down $0.11 during mid-day trading on Thursday, hitting $41.92. The stock had a trading volume of 442,518 shares, compared to its average volume of 2,936,540. The company’s 50 day simple moving average is $41.31 and its 200 day simple moving average is $37.04. The stock has a market cap of $19.57 billion, a price-to-earnings ratio of 13.18, a PEG ratio of 1.92 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. Fox Co. has a twelve month low of $28.28 and a twelve month high of $42.85.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business had revenue of $3.09 billion for the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the business earned $0.88 EPS. The firm’s revenue for the quarter was up 2.0% on a year-over-year basis. On average, equities research analysts forecast that Fox Co. will post 3.69 earnings per share for the current year.

Insider Activity

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. Also, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research firms have recently issued reports on FOXA. Macquarie upped their price target on FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research note on Monday, August 12th. Cfra reiterated a “sell” rating on shares of FOX in a report on Wednesday, September 25th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. The Goldman Sachs Group raised their target price on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. Finally, Evercore ISI boosted their target price on shares of FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research report on Wednesday, August 7th. One equities research analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average price target of $41.08.

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.