PharVision Advisers LLC Makes New Investment in Fox Co. (NASDAQ:FOXA)

PharVision Advisers LLC purchased a new position in Fox Co. (NASDAQ:FOXA) in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund purchased 10,337 shares of the company’s stock, valued at approximately $502,000.

Several other large investors also recently made changes to their positions in FOXA. Pacer Advisors Inc. increased its holdings in shares of FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after purchasing an additional 425,186 shares during the period. Dimensional Fund Advisors LP raised its holdings in FOX by 1.1% in the 4th quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock valued at $185,344,000 after acquiring an additional 39,959 shares in the last quarter. Northern Trust Corp lifted its position in shares of FOX by 17.1% in the 4th quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after acquiring an additional 511,554 shares during the period. Norges Bank acquired a new stake in shares of FOX during the 4th quarter worth approximately $132,161,000. Finally, UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC increased its position in shares of FOX by 8.9% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 2,676,877 shares of the company’s stock valued at $130,043,000 after purchasing an additional 219,016 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

FOXA stock opened at $56.50 on Wednesday. Fox Co. has a 1-year low of $32.51 and a 1-year high of $58.74. 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 cap of $25.40 billion, a PE ratio of 12.10, a P/E/G ratio of 1.27 and a beta of 0.51. The business’s 50-day moving average price is $51.52 and its two-hundred day moving average price is $50.54.

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

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction 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. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the SEC, which is available at this hyperlink. 21.77% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

A number of equities analysts have recently commented on the stock. Morgan Stanley raised their price objective on shares of FOX from $57.00 to $60.00 and gave the stock an “equal weight” rating in a report on Tuesday, May 13th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and lifted their price objective for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. UBS Group increased their target price on FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a report on Tuesday, May 13th. The Goldman Sachs Group set a $60.00 price target on FOX and gave the company a “buy” rating in a research note on Tuesday, February 4th. Finally, Guggenheim reiterated a “buy” rating and issued a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have issued a buy rating to the stock. According to data from MarketBeat, the company has a consensus rating of “Hold” and an average target price of $52.71.

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.