Kentucky Retirement Systems Sells 1,769 Shares of Fox Co. (NASDAQ:FOXA)

Kentucky Retirement Systems reduced its stake in Fox Co. (NASDAQ:FOXA) by 10.2% during the third quarter, Holdings Channel.com reports. The firm owned 15,650 shares of the company’s stock after selling 1,769 shares during the quarter. Kentucky Retirement Systems’ holdings in FOX were worth $662,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently bought and sold shares of FOXA. Massmutual Trust Co. FSB ADV raised its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after purchasing an additional 461 shares during the period. Friedenthal Financial bought a new stake in FOX during the second quarter valued at about $51,000. Duncker Streett & Co. Inc. bought a new stake in FOX during the second quarter valued at about $52,000. Covestor Ltd raised its holdings in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock valued at $90,000 after acquiring an additional 2,128 shares during the period. Finally, Bessemer Group Inc. raised its holdings in FOX by 11.0% during the first quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock valued at $103,000 after acquiring an additional 326 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Trading Up 0.8 %

Shares of NASDAQ FOXA opened at $45.76 on Wednesday. The business’s 50 day moving average is $42.45 and its two-hundred day moving average is $38.43. 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 Co. has a 1-year low of $28.28 and a 1-year high of $47.58. The stock has a market capitalization of $20.90 billion, a P/E ratio of 11.19, a PEG ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 earnings per share for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. During the same period in the previous year, the firm posted $1.09 earnings per share. The firm’s revenue for the quarter was up 11.1% on a year-over-year basis. As a group, research analysts expect that Fox Co. will post 3.94 EPS for the current year.

Wall Street Analysts Forecast Growth

A number of equities research analysts have commented on the company. JPMorgan Chase & Co. raised their price target on FOX from $41.00 to $42.00 and gave the company a “neutral” rating in a report on Tuesday, November 5th. Wells Fargo & Company raised their price target on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. StockNews.com raised FOX from a “hold” rating to a “buy” rating in a report on Tuesday, November 12th. Morgan Stanley raised their price objective on FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, Loop Capital lifted their target price on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, FOX has a consensus rating of “Hold” and an average price target of $44.00.

Insider Activity

In other news, COO John Nallen sold 182,481 shares of the company’s stock in a transaction that occurred on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction that occurred on Wednesday, November 6th. The shares were 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. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.