Tidal Investments LLC Increases Stock Holdings in Fox Co. (NASDAQ:FOXA)

Tidal Investments LLC grew its holdings in shares of Fox Co. (NASDAQ:FOXA) by 24.6% in the 3rd quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 33,672 shares of the company’s stock after purchasing an additional 6,658 shares during the quarter. Tidal Investments LLC’s holdings in FOX were worth $1,425,000 as of its most recent filing with the Securities & Exchange Commission.

Several other institutional investors have also recently made changes to their positions in FOXA. Pacer Advisors Inc. increased its position in FOX by 44,205.3% in the third 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 in the last quarter. Jacobs Levy Equity Management Inc. increased its holdings in FOX by 228.4% in the 3rd quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after acquiring an additional 964,737 shares in the last quarter. Retirement Systems of Alabama raised its stake in FOX by 1,727.2% during the 2nd quarter. Retirement Systems of Alabama now owns 965,066 shares of the company’s stock worth $33,169,000 after acquiring an additional 912,250 shares during the period. AXA S.A. boosted its position in shares of FOX by 294.2% in the second quarter. AXA S.A. now owns 888,476 shares of the company’s stock worth $30,537,000 after purchasing an additional 663,089 shares during the period. Finally, Independent Franchise Partners LLP increased its stake 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 purchasing an additional 597,450 shares in the last quarter. Institutional investors own 52.52% of the company’s stock.

Analyst Upgrades and Downgrades

Several research analysts recently weighed in on the stock. Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Loop Capital increased their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday. The Goldman Sachs Group boosted their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. Barclays increased their price objective on shares of FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a report on Wednesday, October 9th. Finally, Macquarie reissued a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. One analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company. According to MarketBeat.com, FOX currently has a consensus rating of “Hold” and a consensus price target of $46.47.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the business’s stock in a transaction on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the completion of the transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. The trade was a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the stock in a transaction 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 completion of the sale, the chief operating officer now owns 249,424 shares in the company, 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. In the last ninety days, insiders have sold 469,352 shares of company stock worth $20,822,072. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $49.43 on Thursday. The business’s 50 day moving average price is $44.83 and its 200-day moving average price is $40.39. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $50.63. The company has a market cap of $22.58 billion, a P/E ratio of 12.09, a P/E/G ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data 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 business had revenue of $3.56 billion for the quarter, compared to analysts’ expectations of $3.38 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue was up 11.1% compared to the same quarter last year. During the same quarter in the previous year, the business posted $1.09 earnings per share. Sell-side analysts predict that Fox Co. will post 3.94 earnings per share for the current year.

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.