Empowered Funds LLC Sells 220,001 Shares of Fox Co. (NASDAQ:FOXA)

Empowered Funds LLC reduced its holdings in shares of Fox Co. (NASDAQ:FOXA) by 43.9% during the third quarter, HoldingsChannel reports. The firm owned 281,456 shares of the company’s stock after selling 220,001 shares during the period. Empowered Funds LLC’s holdings in FOX were worth $11,914,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds and other institutional investors have also recently modified their holdings of FOXA. CIBC Asset Management Inc increased its stake in shares of FOX by 4.8% in the 3rd quarter. CIBC Asset Management Inc now owns 35,301 shares of the company’s stock worth $1,494,000 after purchasing an additional 1,616 shares in the last quarter. OVERSEA CHINESE BANKING Corp Ltd raised its stake in FOX by 69.6% during the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,674 shares of the company’s stock valued at $706,000 after purchasing an additional 6,843 shares during the period. GSA Capital Partners LLP bought a new stake in shares of FOX during the third quarter valued at approximately $620,000. Entropy Technologies LP purchased a new stake in FOX in the 3rd quarter worth $546,000. Finally, Crossmark Global Holdings Inc. lifted its position in shares of FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after buying an additional 385 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

Analyst Upgrades and Downgrades

A number of analysts have issued reports on FOXA shares. UBS Group lifted their price objective on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Rosenblatt Securities upped their price target on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research note on Wednesday, August 7th. The Goldman Sachs Group lifted their price objective on shares of FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Bank of America upped their target price on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Wednesday, September 25th. Finally, Wells Fargo & Company lifted their price target on FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, nine have assigned a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, FOX has a consensus rating of “Hold” and an average target price of $44.00.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 182,481 shares of FOX stock in a transaction dated Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction dated Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the sale, the chairman now directly owns 1,258,862 shares of the company’s stock, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by company insiders.

FOX Stock Performance

FOXA stock opened at $47.23 on Friday. The firm has a market cap of $21.74 billion, a price-to-earnings ratio of 11.61, a PEG ratio of 1.20 and a beta of 0.76. Fox Co. has a twelve month low of $28.28 and a twelve month high of $47.58. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The business’s fifty day simple moving average is $41.98 and its two-hundred day simple moving average is $37.97.

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

About FOX

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.