Chevy Chase Trust Holdings LLC Lowers Stock Position in Fox Co. (NASDAQ:FOX)

Chevy Chase Trust Holdings LLC trimmed its position in Fox Co. (NASDAQ:FOX) by 1.8% in the 3rd quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 70,733 shares of the company’s stock after selling 1,291 shares during the quarter. Chevy Chase Trust Holdings LLC’s holdings in FOX were worth $2,744,000 at the end of the most recent quarter.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the company. Independent Franchise Partners LLP increased its stake in shares of FOX by 14.5% in the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after purchasing an additional 636,247 shares in the last quarter. Dimensional Fund Advisors LP raised its holdings in FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after acquiring an additional 272,743 shares during the period. Assenagon Asset Management S.A. bought a new stake in FOX during the second quarter valued at about $65,709,000. Brandes Investment Partners LP lifted its position in shares of FOX by 21.5% in the second quarter. Brandes Investment Partners LP now owns 1,273,492 shares of the company’s stock valued at $40,758,000 after acquiring an additional 225,768 shares in the last quarter. Finally, Mirabella Financial Services LLP boosted its stake in shares of FOX by 5.5% in the third quarter. Mirabella Financial Services LLP now owns 1,233,401 shares of the company’s stock worth $47,856,000 after acquiring an additional 64,062 shares during the period. Institutional investors own 26.41% of the company’s stock.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction dated Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, COO John Nallen sold 182,481 shares of the stock in a transaction dated 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 completion of the transaction, the chief operating officer now directly 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. Over the last three months, insiders sold 1,053,505 shares of company stock valued at $47,705,970. Insiders own 23.06% of the company’s stock.

FOX Stock Up 0.9 %

FOX opened at $44.64 on Friday. Fox Co. has a 52 week low of $25.82 and a 52 week high of $44.89. 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 50-day simple moving average of $40.96 and a two-hundred day simple moving average of $36.81. The company has a market capitalization of $20.39 billion, a PE ratio of 10.91, a price-to-earnings-growth ratio of 1.69 and a beta of 0.83.

Analysts Set New Price Targets

FOX has been the topic of several recent analyst reports. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

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.