Rafferty Asset Management LLC Increases Stake in Fox Co. (NASDAQ:FOXA)

Rafferty Asset Management LLC increased its holdings in Fox Co. (NASDAQ:FOXA) by 10.7% in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor owned 19,201 shares of the company’s stock after purchasing an additional 1,862 shares during the period. Rafferty Asset Management LLC’s holdings in FOX were worth $933,000 as of its most recent SEC filing.

A number of other institutional investors also recently made changes to their positions in the business. DnB Asset Management AS boosted its stake in shares of FOX by 0.6% in the 4th quarter. DnB Asset Management AS now owns 44,063 shares of the company’s stock valued at $2,141,000 after purchasing an additional 245 shares in the last quarter. Jones Financial Companies Lllp boosted its stake in shares of 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 purchasing an additional 249 shares in the last quarter. SRS Capital Advisors Inc. boosted its stake in shares of 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 purchasing an additional 262 shares in the last quarter. US Bancorp DE boosted its stake in shares of FOX by 2.0% in the 4th quarter. US Bancorp DE now owns 14,520 shares of the company’s stock valued at $705,000 after purchasing an additional 281 shares in the last quarter. Finally, Metis Global Partners LLC boosted its stake in shares of FOX by 2.8% in the 4th quarter. Metis Global Partners LLC now owns 10,783 shares of the company’s stock valued at $524,000 after purchasing an additional 292 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Trading Down 2.4%

NASDAQ:FOXA opened at $55.14 on Thursday. 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 company has a 50-day moving average price of $51.58 and a 200-day moving average price of $50.57. The stock has a market cap of $24.79 billion, a price-to-earnings ratio of 11.81, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a 12 month low of $32.51 and a 12 month high of $58.74.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.93 by $0.17. The company had revenue of $4.37 billion during 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%. FOX’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same period last year, the business earned $1.40 EPS. Equities analysts predict that Fox Co. will post 4.38 EPS for the current year.

Analysts Set New Price Targets

FOXA has been the subject of a number of research reports. Cowen reaffirmed a “hold” rating on shares of FOX in a research note on Tuesday, May 13th. Loop Capital increased their price target on shares of FOX from $62.00 to $64.00 and gave the company a “buy” rating in a research report on Tuesday, May 13th. Wolfe Research cut shares of FOX from a “peer perform” rating to an “underperform” rating and set a $48.00 price target for the company. in a research report on Monday, April 7th. Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Finally, Morgan Stanley increased their price target on shares of FOX from $57.00 to $60.00 and gave the company an “equal weight” rating in a research report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, ten have issued a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $52.71.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 21.77% of the stock is owned by company 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.