Optas LLC Invests $278,000 in Fox Co. (NASDAQ:FOXA)

Optas LLC bought a new stake in shares of Fox Co. (NASDAQ:FOXA) during the 4th quarter, HoldingsChannel.com reports. The fund bought 5,722 shares of the company’s stock, valued at approximately $278,000.

Other large investors also recently added to or reduced their stakes in the company. JPMorgan Chase & Co. grew its holdings in shares of FOX by 10.9% in the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after purchasing an additional 110,753 shares during the last quarter. Entropy Technologies LP purchased a new stake in FOX during the 3rd quarter valued at $546,000. Invst LLC bought a new stake in FOX in the 3rd quarter worth $740,000. B. Metzler seel. Sohn & Co. Holding AG purchased a new position in shares of FOX in the third quarter valued at about $2,867,000. Finally, Park Avenue Securities LLC raised its stake in shares of FOX by 32.4% during the fourth quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock valued at $752,000 after acquiring an additional 3,787 shares during the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is currently owned by insiders.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. Loop Capital boosted their price target on FOX from $48.00 to $55.00 and gave the company a “buy” rating in a report on Wednesday, December 18th. Wells Fargo & Company upped their target price on FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. Macquarie reiterated a “neutral” rating and issued a $43.00 price target on shares of FOX in a report on Tuesday, November 5th. TD Cowen upped their price objective on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, JPMorgan Chase & Co. lifted their target price on shares of FOX from $42.00 to $49.00 and gave the company a “neutral” rating in a research note on Tuesday, January 14th. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and seven have issued a buy rating to the stock. Based on data from MarketBeat.com, the stock has an average rating of “Hold” and an average target price of $48.25.

FOX Price Performance

FOXA opened at $54.64 on Wednesday. The firm has a market cap of $24.96 billion, a PE ratio of 13.36, a P/E/G ratio of 1.25 and a beta of 0.76. The stock has a 50-day moving average price of $48.46 and a 200-day moving average price of $43.83. Fox Co. has a 1 year low of $28.28 and a 1 year high of $55.56. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33.

FOX (NASDAQ:FOXA) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The business had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. FOX’s revenue was up 19.9% compared to the same quarter last year. During the same period last year, the business earned $0.34 EPS. Sell-side analysts predict that Fox Co. will post 4.12 earnings per share for the current fiscal year.

About FOX

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.