Jacobs Levy Equity Management Inc. Sells 1,078,739 Shares of Fox Co. (NASDAQ:FOXA)

Jacobs Levy Equity Management Inc. lessened its holdings in shares of Fox Co. (NASDAQ:FOXA) by 77.8% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 308,368 shares of the company’s stock after selling 1,078,739 shares during the period. Jacobs Levy Equity Management Inc. owned approximately 0.07% of FOX worth $14,981,000 at the end of the most recent quarter.

Other institutional investors have also modified their holdings of the company. WealthTrak Capital Management LLC bought a new position in shares of FOX during the 4th quarter valued at about $26,000. SRS Capital Advisors Inc. raised its position in FOX by 91.0% in the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company’s stock valued at $27,000 after buying an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX in the 4th quarter valued at approximately $28,000. Jones Financial Companies Lllp raised its position in FOX by 61.5% in the 4th quarter. Jones Financial Companies Lllp now owns 654 shares of the company’s stock valued at $32,000 after buying an additional 249 shares during the last quarter. Finally, CIBC Private Wealth Group LLC raised its position in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company’s stock valued at $33,000 after buying an additional 368 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

A number of brokerages recently issued reports on FOXA. Wells Fargo & Company dropped their target price on FOX from $63.00 to $58.00 and set an “overweight” rating on the stock in a research report on Thursday, April 17th. UBS Group dropped their target price on FOX from $63.00 to $61.00 and set a “buy” rating on the stock in a research report on Tuesday, April 15th. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 target price on the stock. in a research report on Monday, April 7th. Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and lifted their target price for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, JPMorgan Chase & Co. boosted their price target on FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research report on Wednesday, February 5th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.65.

FOX Stock Up 4.3%

FOXA stock opened at $52.42 on Tuesday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market capitalization of $23.77 billion, a PE ratio of 11.22, a PEG ratio of 1.27 and a beta of 0.51. Fox Co. has a 1-year low of $32.45 and a 1-year high of $58.74. The business’s 50 day simple moving average is $51.27 and its 200 day simple moving average is $50.03.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. The business had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm’s quarterly revenue was up 26.8% on a year-over-year basis. During the same period in the previous year, the company posted $1.40 EPS. As a group, research analysts anticipate that Fox Co. will post 4.38 EPS for the current year.

Insider Activity at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. 21.77% of the stock is currently owned by corporate insiders.

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.