Bank of America Corp DE Sells 1,528,203 Shares of Fox Co. (NASDAQ:FOXA)

Bank of America Corp DE cut its holdings in Fox Co. (NASDAQ:FOXA) by 58.3% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 1,092,462 shares of the company’s stock after selling 1,528,203 shares during the quarter. Bank of America Corp DE’s holdings in FOX were worth $53,072,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other large investors also recently modified their holdings of the business. Pacer Advisors Inc. lifted its holdings in FOX by 5.4% in the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after buying an additional 425,186 shares during the period. Dimensional Fund Advisors LP lifted its holdings in FOX by 1.1% in the fourth quarter. Dimensional Fund Advisors LP now owns 3,815,004 shares of the company’s stock worth $185,344,000 after buying an additional 39,959 shares during the period. Northern Trust Corp grew its stake in FOX by 17.1% in the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company’s stock worth $170,111,000 after purchasing an additional 511,554 shares during the period. Norges Bank bought a new position in FOX in the fourth quarter worth $132,161,000. Finally, Amundi boosted its holdings in shares of FOX by 9.9% during the 4th quarter. Amundi now owns 2,434,443 shares of the company’s stock valued at $119,006,000 after buying an additional 219,380 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

FOX Price Performance

FOXA stock opened at $55.24 on Wednesday. The company has a market capitalization of $25.05 billion, a PE ratio of 11.83, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The company’s fifty day moving average price is $51.27 and its 200-day moving average price is $50.06. Fox Co. has a one year low of $32.45 and a one year high of $58.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating analysts’ consensus estimates of $0.93 by $0.17. The firm had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s quarterly revenue was up 26.8% compared to the same quarter last year. During the same quarter last year, the business posted $1.40 earnings per share. On average, equities analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

Wall Street Analyst Weigh In

FOXA has been the subject of several research reports. UBS Group increased their price target on shares of FOX from $61.00 to $63.00 and gave the stock a “buy” rating in a research note on Tuesday. Barclays upped their price target on FOX from $45.00 to $52.00 and gave the stock an “equal weight” rating in a research note on Tuesday. JPMorgan Chase & Co. upped their price target on shares of FOX from $49.00 to $54.00 and gave the stock a “neutral” rating in a research note on Wednesday, February 5th. Moffett Nathanson cut FOX from a “buy” rating to a “neutral” rating and upped their price objective for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Guggenheim restated a “buy” rating and issued a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Two analysts have rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company presently has an average rating of “Hold” and an average price target of $52.71.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s 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 sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available at this hyperlink. 21.77% of the stock is currently owned by insiders.

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.