KBC Group NV Buys 851,127 Shares of Fox Co. (NASDAQ:FOXA)

KBC Group NV grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 56.1% in the 4th quarter, HoldingsChannel reports. The fund owned 2,367,698 shares of the company’s stock after purchasing an additional 851,127 shares during the quarter. KBC Group NV’s holdings in FOX were worth $115,022,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors also recently made changes to their positions in FOXA. Pacer Advisors Inc. lifted its holdings in FOX by 44,205.3% during the 3rd quarter. Pacer Advisors Inc. now owns 7,915,576 shares of the company’s stock worth $335,066,000 after purchasing an additional 7,897,710 shares during the last quarter. Jacobs Levy Equity Management Inc. increased its position in FOX by 228.4% during the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares during the period. Glenmede Trust Co. NA lifted its holdings in shares of FOX by 244.0% during the third quarter. Glenmede Trust Co. NA now owns 389,470 shares of the company’s stock worth $16,486,000 after buying an additional 276,259 shares in the last quarter. Squarepoint Ops LLC boosted its position in shares of FOX by 4,048.0% in the second quarter. Squarepoint Ops LLC now owns 269,208 shares of the company’s stock valued at $9,253,000 after acquiring an additional 262,718 shares during the period. Finally, Caisse DE Depot ET Placement DU Quebec bought a new position in FOX during the third quarter worth about $8,531,000. Institutional investors own 52.52% of the company’s stock.

Analyst Ratings Changes

A number of analysts have issued reports on FOXA shares. JPMorgan Chase & Co. increased their target price on shares of FOX from $42.00 to $49.00 and gave the stock a “neutral” rating in a research report on Tuesday, January 14th. Evercore ISI raised FOX to a “hold” rating in a research report on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on FOX from $49.00 to $59.00 and gave the company an “underweight” rating in a report on Friday, January 10th. TD Cowen increased their target price on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Finally, StockNews.com downgraded FOX from a “buy” rating to a “hold” rating in a research note on Tuesday, December 17th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and seven have given a buy rating to the stock. According to MarketBeat.com, the company has a consensus rating of “Hold” and a consensus target price of $48.25.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’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. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock valued at $20,822,072 in the last ninety days. 21.77% of the stock is currently owned by insiders.

FOX Trading Up 1.1 %

Shares of FOXA stock opened at $49.07 on Monday. Fox Co. has a twelve month low of $28.28 and a twelve month high of $50.63. The stock’s fifty day simple moving average is $47.90 and its 200 day simple moving average is $43.17. 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 firm has a market capitalization of $22.41 billion, a P/E ratio of 12.00, a P/E/G ratio of 1.19 and a beta of 0.75.

FOX (NASDAQ:FOXA) last released its quarterly earnings results 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 business posted $1.09 earnings per share. The business’s quarterly revenue was up 11.1% compared to the same quarter last year. As a group, sell-side analysts predict that Fox Co. will post 4.09 EPS for the current fiscal year.

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.