Geode Capital Management LLC Sells 355,668 Shares of Fox Co. (NASDAQ:FOXA)

Geode Capital Management LLC lowered its stake in Fox Co. (NASDAQ:FOXA) by 5.1% in the third quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 6,630,666 shares of the company’s stock after selling 355,668 shares during the period. Geode Capital Management LLC owned 1.44% of FOX worth $280,027,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of the stock. Quest Partners LLC acquired a new stake in shares of FOX in the 3rd quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in FOX in the second quarter valued at about $52,000. Quarry LP acquired a new stake in FOX in the third quarter worth about $70,000. Transamerica Financial Advisors Inc. bought a new stake in FOX during the 3rd quarter worth about $119,000. Finally, Exchange Traded Concepts LLC acquired a new position in FOX during the 3rd quarter valued at about $141,000. Institutional investors own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

FOXA has been the subject of several analyst reports. The Goldman Sachs Group lifted their price target on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research report on Tuesday, November 5th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. TD Cowen raised their price target on FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. StockNews.com upgraded FOX from a “hold” rating to a “buy” rating in a report on Friday, December 6th. Finally, Macquarie restated a “neutral” rating and set a $43.00 target price on shares of FOX in a 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 assigned a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity

In related news, COO John Nallen sold 182,481 shares of FOX stock in a transaction that occurred 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 sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The disclosure for this sale can be found here. Insiders have sold a total of 469,352 shares of company stock worth $20,822,072 over the last three months. Corporate insiders own 21.77% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $47.08 on Friday. 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 Co. has a 52 week low of $28.28 and a 52 week high of $47.67. The company’s 50 day moving average price is $44.42 and its two-hundred day moving average price is $40.09. The company has a market capitalization of $21.50 billion, a P/E ratio of 11.51, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, topping analysts’ consensus estimates of $1.12 by $0.33. The business had revenue of $3.56 billion for 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%. The firm’s quarterly revenue was up 11.1% on a year-over-year basis. During the same period last year, the business posted $1.09 earnings per share. On average, analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

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.