Daiwa Securities Group Inc. Grows Position in Fox Co. (NASDAQ:FOXA)

Daiwa Securities Group Inc. grew its stake in shares of Fox Co. (NASDAQ:FOXA) by 5.1% during the 3rd quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 31,172 shares of the company’s stock after purchasing an additional 1,502 shares during the period. Daiwa Securities Group Inc.’s holdings in FOX were worth $1,320,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds have also made changes to their positions in the company. Independent Franchise Partners LLP increased its stake in FOX by 3.3% in the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock valued at $635,706,000 after purchasing an additional 597,450 shares in the last quarter. LSV Asset Management increased its position in shares of FOX by 5.9% in the second quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock valued at $294,816,000 after buying an additional 481,267 shares in the last quarter. Pacer Advisors Inc. raised its stake in shares of 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 buying an additional 7,897,710 shares during the last quarter. Dimensional Fund Advisors LP grew its stake in FOX by 7.7% in the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock valued at $129,180,000 after acquiring an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. increased its holdings in FOX by 25.5% during the 2nd quarter. D. E. Shaw & Co. Inc. now owns 2,420,940 shares of the company’s stock valued at $83,208,000 after acquiring an additional 492,467 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FOXA has been the topic of several research reports. Macquarie reiterated a “neutral” rating and issued a $43.00 price target on shares of FOX in a research report on Tuesday, November 5th. Wells Fargo & Company raised their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. Cfra restated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Seaport Res Ptn cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Finally, Loop Capital upped their target price on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a report on Tuesday, October 8th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and a consensus target price of $44.00.

Insider Transactions at FOX

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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, COO John Nallen sold 182,481 shares of the business’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 value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is currently owned by company insiders.

FOX Stock Up 0.9 %

Shares of FOXA opened at $47.12 on Friday. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. The company’s fifty day moving average is $43.50 and its two-hundred day moving average is $39.10. The firm has a market cap of $21.52 billion, a PE ratio of 11.52, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last issued 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. The firm had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm’s revenue for the quarter was up 11.1% compared to the same quarter last year. During the same quarter last year, the firm earned $1.09 earnings per share. Analysts forecast that Fox Co. will post 3.94 earnings per share for the current 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.