Neuberger Berman Group LLC Lowers Stock Holdings in Fox Corporation $FOXA

Neuberger Berman Group LLC reduced its position in Fox Corporation (NASDAQ:FOXA) by 46.3% in the second quarter, Holdings Channel.com reports. The fund owned 44,592 shares of the company’s stock after selling 38,513 shares during the quarter. Neuberger Berman Group LLC’s holdings in FOX were worth $2,499,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOXA. Connor Clark & Lunn Investment Management Ltd. bought a new position in FOX in the 1st quarter valued at $272,000. Public Sector Pension Investment Board boosted its stake in FOX by 7.0% during the first quarter. Public Sector Pension Investment Board now owns 34,080 shares of the company’s stock valued at $1,929,000 after buying an additional 2,227 shares during the period. Kovitz Investment Group Partners LLC purchased a new position in FOX during the first quarter worth about $225,000. Aberdeen Group plc increased its stake in FOX by 134.4% in the 1st quarter. Aberdeen Group plc now owns 132,674 shares of the company’s stock worth $7,395,000 after acquiring an additional 76,079 shares during the last quarter. Finally, Ethic Inc. increased its stake in FOX by 9.8% in the 1st quarter. Ethic Inc. now owns 10,964 shares of the company’s stock worth $612,000 after acquiring an additional 975 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

FOX Price Performance

Shares of FOX stock opened at $71.10 on Monday. Fox Corporation has a 52-week low of $46.06 and a 52-week high of $72.70. The stock has a market capitalization of $31.56 billion, a price-to-earnings ratio of 15.98, a price-to-earnings-growth ratio of 1.59 and a beta of 0.51. The company has a fifty day moving average of $63.78 and a 200-day moving average of $59.56. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 EPS for the quarter, topping analysts’ consensus estimates of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company earned $1.45 EPS. The firm’s revenue was up 4.9% compared to the same quarter last year. Equities research analysts expect that Fox Corporation will post 4.38 EPS for the current year.

Insider Buying and Selling

In related news, insider Adam G. Ciongoli sold 29,897 shares of the stock in a transaction dated Tuesday, December 9th. The stock was sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the completion of the sale, the insider directly owned 35,978 shares in the company, valued at $2,502,269.90. This represents a 45.38% decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The stock was sold at an average price of $59.26, for a total value of $5,926,000.00. Following the transaction, the chairman owned 1,100,862 shares in the company, valued at approximately $65,237,082.12. The trade was a 8.33% decrease in their ownership of the stock. Additional details regarding this sale are available in the official SEC disclosure. In the last 90 days, insiders sold 454,817 shares of company stock worth $29,490,590. Insiders own 19.68% of the company’s stock.

Wall Street Analyst Weigh In

A number of analysts have recently issued reports on FOXA shares. Morgan Stanley set a $70.00 price target on FOX in a research report on Friday, October 31st. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, October 28th. Evercore ISI raised their price objective on shares of FOX from $55.00 to $66.00 and gave the company an “in-line” rating in a research report on Friday, October 31st. Finally, Barclays lifted their price objective on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a report on Friday, October 31st. One investment analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have given a Hold rating to the company. According to data from MarketBeat, FOX presently has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

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.