Retirement Systems of Alabama bought a new stake in Fox Corp (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor bought 155,211 shares of the company’s stock, valued at approximately $4,895,000.
Several other institutional investors also recently modified their holdings of the company. Factory Mutual Insurance Co. acquired a new position in shares of FOX in the 3rd quarter valued at $49,574,000. Rhumbline Advisers purchased a new position in FOX during the 3rd quarter worth $17,900,000. New York State Teachers Retirement System purchased a new position in FOX during the 3rd quarter worth $15,526,000. Country Trust Bank purchased a new position in FOX during the 3rd quarter worth $14,345,000. Finally, State of New Jersey Common Pension Fund D purchased a new position in FOX during the 3rd quarter worth $8,464,000. Institutional investors and hedge funds own 55.84% of the company’s stock.
A number of brokerages have commented on FOXA. Atlantic Securities downgraded shares of FOX from an “overweight” rating to an “underweight” rating and set a $28.00 price objective for the company. in a research report on Tuesday, September 10th. Zacks Investment Research upgraded shares of FOX from a “sell” rating to a “hold” rating in a report on Tuesday, August 27th. Evercore ISI reiterated a “buy” rating and issued a $45.00 price target on shares of FOX in a report on Thursday, August 8th. BidaskClub downgraded shares of FOX from a “hold” rating to a “sell” rating in a report on Saturday, August 24th. Finally, Wells Fargo & Co assumed coverage on shares of FOX in a report on Monday, September 23rd. They issued an “underperform” rating and a $30.00 price target for the company. Seven investment analysts have rated the stock with a sell rating, nine have assigned a hold rating and eleven have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $42.52.
NASDAQ:FOXA opened at $34.94 on Friday. The company has a debt-to-equity ratio of 0.68, a quick ratio of 3.12 and a current ratio of 3.78. The firm has a 50-day moving average price of $31.88 and a two-hundred day moving average price of $34.82. Fox Corp has a twelve month low of $29.69 and a twelve month high of $41.95.
FOX (NASDAQ:FOXA) last posted its earnings results on Wednesday, November 6th. The company reported $0.83 earnings per share for the quarter, beating the Thomson Reuters’ consensus estimate of $0.69 by $0.14. The business had revenue of $2.67 billion for the quarter, compared to analysts’ expectations of $2.60 billion. During the same quarter last year, the business posted $0.52 earnings per share. The business’s revenue was up 5.1% compared to the same quarter last year. On average, equities analysts anticipate that Fox Corp will post 2.34 earnings per share for the current year.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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