Ethic Inc. Buys Shares of 9,989 Fox Co. (NASDAQ:FOXA)

Ethic Inc. purchased a new stake in Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm purchased 9,989 shares of the company's stock, valued at approximately $485,000.

Several other hedge funds have also modified their holdings of the business. Norges Bank purchased a new position in FOX in the 4th quarter valued at approximately $132,161,000. Jupiter Asset Management Ltd. purchased a new position in FOX in the 4th quarter valued at approximately $67,471,000. FMR LLC increased its stake in FOX by 240.2% in the 4th quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after purchasing an additional 1,330,908 shares in the last quarter. Robeco Institutional Asset Management B.V. increased its stake in FOX by 308.5% in the 4th quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock valued at $59,174,000 after purchasing an additional 919,883 shares in the last quarter. Finally, Allianz Asset Management GmbH increased its stake in FOX by 3,077.5% in the 4th quarter. Allianz Asset Management GmbH now owns 885,476 shares of the company's stock valued at $43,016,000 after purchasing an additional 857,609 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Performance

FOXA stock traded down $0.27 on Monday, reaching $55.81. The company's stock had a trading volume of 2,555,649 shares, compared to its average volume of 3,482,451. Fox Co. has a 52 week low of $32.51 and a 52 week high of $58.74. The company has a market capitalization of $25.09 billion, a P/E ratio of 11.95, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The firm has a fifty day moving average of $51.34 and a two-hundred day moving average of $50.40. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, topping analysts' consensus estimates of $0.93 by $0.17. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the company posted $1.40 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. As a group, analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.

Analysts Set New Price Targets

FOXA has been the subject of several recent research reports. Loop Capital raised their price target on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. UBS Group raised their price target on FOX from $61.00 to $63.00 and gave the stock a "buy" rating in a research report on Tuesday, May 13th. Guggenheim reissued a "buy" rating and set a $60.00 price target on shares of FOX in a research report on Tuesday, March 25th. Cfra Research raised FOX from a "hold" rating to a "moderate buy" rating in a research report on Monday, April 7th. Finally, The Goldman Sachs Group set a $60.00 target price on FOX and gave the company a "buy" rating in a report on Tuesday, February 4th. Two analysts have rated the stock with a sell rating, ten have given a hold rating and nine have assigned a buy rating to the stock. According to MarketBeat, the company presently has an average rating of "Hold" and a consensus target price of $52.71.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This trade represents a 4.61% decrease in their position. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Corporate insiders own 21.77% of the company's stock.

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.