Charles Schwab Investment Management Inc. Reduces Holdings in Fox Co. (NASDAQ:FOXA)

Charles Schwab Investment Management Inc. decreased its holdings in Fox Co. (NASDAQ:FOXA) by 0.3% during the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 2,380,313 shares of the company’s stock after selling 7,473 shares during the quarter. Charles Schwab Investment Management Inc.’s holdings in FOX were worth $100,759,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in the business. Independent Franchise Partners LLP boosted its holdings in shares of FOX by 3.3% in the second quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after buying an additional 597,450 shares during the last quarter. LSV Asset Management lifted its holdings in FOX by 5.9% during the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock valued at $294,816,000 after purchasing an additional 481,267 shares in the last quarter. Pacer Advisors Inc. lifted its holdings in FOX by 44,205.3% during the third quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock valued at $335,066,000 after purchasing an additional 7,897,710 shares in the last quarter. Dimensional Fund Advisors LP lifted its holdings in FOX by 7.7% during the second quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after purchasing an additional 268,778 shares in the last quarter. Finally, D. E. Shaw & Co. Inc. lifted its holdings in FOX by 25.5% during the second quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after purchasing an additional 492,467 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. The trade was a 7.36 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders sold 469,352 shares of company stock valued at $20,822,072 over the last three months. 21.77% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several brokerages have weighed in on FOXA. StockNews.com downgraded shares of FOX from a “buy” rating to a “hold” rating in a report on Monday. Barclays lifted their price objective on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. TD Cowen lifted their price objective on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a research report on Tuesday, November 5th. Morgan Stanley lifted their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research report on Friday, November 1st. Finally, UBS Group lifted their price objective on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, FOX currently has a consensus rating of “Hold” and an average price target of $44.00.

FOX Stock Up 0.2 %

NASDAQ FOXA opened at $46.15 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a fifty day moving average of $43.12 and a two-hundred day moving average of $38.90. The firm has a market capitalization of $21.08 billion, a price-to-earnings ratio of 11.28, a PEG ratio of 1.20 and a beta of 0.76. Fox Co. has a 52 week low of $28.28 and a 52 week high of $47.58.

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