Louisiana State Employees Retirement System Lowers Position in Fox Co. (NASDAQ:FOXA)

Louisiana State Employees Retirement System cut its holdings in Fox Co. (NASDAQ:FOXA) by 3.8% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 12,600 shares of the company’s stock after selling 500 shares during the period. Louisiana State Employees Retirement System’s holdings in FOX were worth $533,000 at the end of the most recent quarter.

Several other institutional investors also recently modified their holdings of the business. Greenleaf Trust bought a new position in shares of FOX in the third quarter valued at approximately $310,000. Commerzbank Aktiengesellschaft FI bought a new position in shares of FOX in the third quarter valued at approximately $259,000. Weaver Capital Management LLC grew its holdings in shares of FOX by 37.0% in the third quarter. Weaver Capital Management LLC now owns 19,503 shares of the company’s stock valued at $826,000 after acquiring an additional 5,272 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in shares of FOX by 1.6% in the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after acquiring an additional 451 shares in the last quarter. Finally, nVerses Capital LLC grew its holdings in shares of FOX by 31.0% in the third quarter. nVerses Capital LLC now owns 25,800 shares of the company’s stock valued at $1,092,000 after acquiring an additional 6,100 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

Insider Activity

In other news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 0.00 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were bought at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. This trade represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several equities analysts have recently issued reports on the company. Deutsche Bank Aktiengesellschaft upped their target price on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday. UBS Group increased their price objective on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday. Rosenblatt Securities increased their price objective on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Finally, Evercore ISI increased their price objective on FOX from $33.00 to $38.00 and gave the company an “in-line” rating in a report on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock presently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Trading Up 1.4 %

NASDAQ FOXA opened at $43.60 on Wednesday. Fox Co. has a 1-year low of $28.28 and a 1-year high of $45.82. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average of $41.44 and a 200-day moving average of $37.42. The firm has a market cap of $20.07 billion, a PE ratio of 10.66, a price-to-earnings-growth ratio of 1.90 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its 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. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter in the previous year, the company posted $1.09 EPS. FOX’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, sell-side analysts forecast that Fox Co. will post 3.69 EPS for the current 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.