Bridgewater Associates LP Sells 104,368 Shares of Fox Co. (NASDAQ:FOXA)

Bridgewater Associates LP decreased its stake in shares of Fox Co. (NASDAQ:FOXA) by 16.1% during the 3rd quarter, HoldingsChannel.com reports. The firm owned 545,655 shares of the company’s stock after selling 104,368 shares during the quarter. Bridgewater Associates LP’s holdings in FOX were worth $23,098,000 as of its most recent filing with the SEC.

A number of other large investors have also made changes to their positions in FOXA. Massmutual Trust Co. FSB ADV increased its holdings in FOX by 176.6% in the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after buying an additional 461 shares during the period. Quest Partners LLC bought a new stake in FOX in the third quarter valued at about $51,000. Friedenthal Financial acquired a new position in FOX in the second quarter worth about $51,000. Duncker Streett & Co. Inc. bought a new position in FOX during the second quarter worth about $52,000. Finally, Transamerica Financial Advisors Inc. acquired a new stake in FOX during the third quarter valued at approximately $119,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

Analysts Set New Price Targets

FOXA has been the subject of several analyst reports. Cfra restated a “sell” rating on shares of FOX in a research report on Wednesday, September 25th. Wells Fargo & Company lifted their price objective on FOX from $46.00 to $49.00 and gave the company an “overweight” rating in a report on Tuesday, November 5th. Macquarie reaffirmed a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. TD Cowen lifted their price target on shares of FOX from $36.00 to $42.00 and gave the company a “hold” rating in a report on Tuesday, November 5th. Finally, Rosenblatt Securities upped their price objective on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and an average price target of $44.00.

FOX Trading Up 1.2 %

FOXA stock opened at $46.71 on Thursday. The business has a fifty day moving average of $43.24 and a 200-day moving average of $38.95. The company has a market cap of $21.33 billion, a P/E ratio of 11.42, a PEG ratio of 1.18 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58. 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 released its earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company posted $1.09 EPS. The company’s revenue was up 11.1% compared to the same quarter last year. As a group, equities research analysts expect that Fox Co. will post 3.94 EPS for the current year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on 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 transaction, the chairman now directly owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 182,481 shares of the company’s stock in a transaction dated Tuesday, November 5th. The shares were 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 of the company’s stock, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders have sold 469,352 shares of company stock worth $20,822,072 over the last ninety days. Company insiders own 21.77% of the company’s stock.

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.