Daiwa Securities Group Inc. Boosts Stake in Fox Co. (NASDAQ:FOXA)

Daiwa Securities Group Inc. lifted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 5.1% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 31,172 shares of the company’s stock after acquiring an additional 1,502 shares during the quarter. Daiwa Securities Group Inc.’s holdings in FOX were worth $1,320,000 as of its most recent filing with the SEC.

Other institutional investors have also modified their holdings of the company. Massmutual Trust Co. FSB ADV grew its stake in FOX by 176.6% during the 2nd quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock valued at $25,000 after purchasing an additional 461 shares in the last quarter. Quest Partners LLC bought a new stake in shares of FOX in the third quarter worth $51,000. Friedenthal Financial acquired a new stake in FOX in the second quarter valued at $51,000. Duncker Streett & Co. Inc. bought a new position in FOX during the 2nd quarter valued at $52,000. Finally, Exchange Traded Concepts LLC acquired a new position in FOX during the 3rd quarter worth $141,000. Institutional investors and hedge funds own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA stock opened at $47.12 on Friday. Fox Co. has a 12-month low of $28.28 and a 12-month high of $47.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The firm has a market capitalization of $21.52 billion, a price-to-earnings ratio of 11.52, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The business has a 50 day simple moving average of $43.50 and a 200 day simple moving average of $39.10.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating analysts’ consensus estimates of $1.12 by $0.33. The company had revenue of $3.56 billion for the quarter, compared to analyst estimates of $3.38 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The company’s quarterly revenue was up 11.1% compared to the same quarter last year. During the same period last year, the company earned $1.09 earnings per share. On average, equities research analysts anticipate that Fox Co. will post 3.94 EPS for the current year.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction 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 completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 469,352 shares of company stock valued at $20,822,072. Company insiders own 21.77% of the company’s stock.

Wall Street Analysts Forecast Growth

Several equities analysts have recently commented on FOXA shares. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Monday, November 25th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. The Goldman Sachs Group upped their price target on FOX from $46.00 to $51.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Rosenblatt Securities raised their price objective on FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. Finally, Morgan Stanley boosted their target price on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. One analyst has rated the stock with a sell rating, ten have given a hold rating and eight have given a buy rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Hold” and an average price target of $44.00.

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.