Stevens Capital Management LP Makes New Investment in Fox Co. (NASDAQ:FOXA)

Stevens Capital Management LP acquired a new position in shares of Fox Co. (NASDAQ:FOXA) during the third quarter, according to its most recent filing with the Securities & Exchange Commission. The institutional investor acquired 7,575 shares of the company’s stock, valued at approximately $321,000.

A number of other hedge funds also recently made changes to their positions in the stock. Independent Franchise Partners LLP raised its holdings in FOX by 3.3% during the 2nd quarter. Independent Franchise Partners LLP now owns 18,495,954 shares of the company’s stock worth $635,706,000 after purchasing an additional 597,450 shares during the last quarter. LSV Asset Management raised its holdings in FOX by 5.9% during the 2nd quarter. LSV Asset Management now owns 8,577,714 shares of the company’s stock worth $294,816,000 after purchasing an additional 481,267 shares during the last quarter. Pacer Advisors Inc. raised 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. Dimensional Fund Advisors LP raised its holdings in FOX by 7.7% during the 2nd quarter. Dimensional Fund Advisors LP now owns 3,758,734 shares of the company’s stock worth $129,180,000 after purchasing an additional 268,778 shares during the last quarter. Finally, D. E. Shaw & Co. Inc. raised 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 worth $83,208,000 after purchasing an additional 492,467 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of FOXA stock opened at $46.65 on Friday. The firm has a market capitalization of $21.31 billion, a PE ratio of 11.41, a price-to-earnings-growth ratio of 1.19 and a beta of 0.77. The firm has a fifty day simple moving average of $43.87 and a two-hundred day simple moving average of $39.48. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The business 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% on a year-over-year basis. During the same quarter in the previous year, the business posted $1.09 EPS. Analysts forecast that Fox Co. will post 3.94 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FOXA has been the subject of several analyst reports. Wells Fargo & Company raised their price target on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. TD Cowen raised their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a report on Tuesday, November 5th. Bank of America raised their price target on shares of FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Cfra reiterated a “sell” rating on shares of FOX in a research note on Wednesday, September 25th. Finally, Loop Capital lifted their price objective on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the stock currently has an average rating of “Hold” and a consensus target price of $44.00.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of FOX stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, COO John Nallen sold 182,481 shares of FOX stock in a transaction 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 directly owns 249,424 shares in the company, 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. In the last 90 days, insiders sold 469,352 shares of company stock worth $20,822,072. 21.77% of the stock is owned by corporate insiders.

FOX Company 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.