Trust Asset Management LLC Acquires Shares of 4,918 Fox Co. (NASDAQ:FOXA)

Trust Asset Management LLC bought a new position in shares of Fox Co. (NASDAQ:FOXA) during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund bought 4,918 shares of the company’s stock, valued at approximately $208,000.

A number of other institutional investors have also made changes to their positions in the company. Bessemer Group Inc. raised its position in shares of FOX by 11.0% during the 1st quarter. Bessemer Group Inc. now owns 3,290 shares of the company’s stock worth $103,000 after purchasing an additional 326 shares during the period. Crossmark Global Holdings Inc. lifted its stake in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after buying an additional 385 shares during the last quarter. Raymond James Trust N.A. increased its stake in shares of FOX by 4.4% during the second quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after acquiring an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in shares of FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after acquiring an additional 451 shares during the period. Finally, Linden Thomas Advisory Services LLC raised its holdings in FOX by 0.9% during the second quarter. Linden Thomas Advisory Services LLC now owns 49,314 shares of the company’s stock worth $1,695,000 after purchasing an additional 453 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Ratings Changes

A number of equities analysts recently issued reports on FOXA shares. Bank of America lifted their target price on FOX from $45.00 to $50.00 and gave the stock a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft boosted their target price on FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group increased their target price on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Loop Capital boosted their price target on FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research note on Tuesday, October 8th. Finally, JPMorgan Chase & Co. increased their price target on shares of FOX from $41.00 to $42.00 and gave the stock a “neutral” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have issued a hold rating and nine have given a buy rating to the stock. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus target price of $44.00.

FOX Trading Up 0.2 %

FOXA traded up $0.08 during trading on Monday, reaching $46.93. 227,806 shares of the company’s stock were exchanged, compared to its average volume of 3,046,744. The company’s fifty day moving average price is $42.88 and its 200-day moving average price is $38.72. The firm has a market capitalization of $21.43 billion, a PE ratio of 11.45, a P/E/G ratio of 1.20 and a beta of 0.76. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $47.58. 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 released its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the company posted $1.09 earnings per share. The firm’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts forecast that Fox Co. will post 3.94 EPS for the current year.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of the business’s stock in a transaction dated 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 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 ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by 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.