Millennium Management LLC Has $63.61 Million Stake in Fox Co. (NASDAQ:FOXA)

Millennium Management LLC lifted its holdings in Fox Co. (NASDAQ:FOXA - Free Report) by 16.0% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,309,332 shares of the company's stock after purchasing an additional 181,017 shares during the period. Millennium Management LLC owned 0.29% of FOX worth $63,607,000 as of its most recent filing with the SEC.

Several other hedge funds have also recently added to or reduced their stakes in FOXA. Norges Bank acquired a new stake in shares of FOX in the fourth quarter worth $132,161,000. Jupiter Asset Management Ltd. acquired a new stake in shares of FOX during the 4th quarter worth approximately $67,471,000. FMR LLC increased its position in shares of FOX by 240.2% during the fourth 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 during the period. Robeco Institutional Asset Management B.V. lifted its position in FOX by 308.5% in the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company's stock worth $59,174,000 after purchasing an additional 919,883 shares during the period. Finally, Allianz Asset Management GmbH increased its holdings 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 buying an additional 857,609 shares during the period. Institutional investors own 52.52% of the company's stock.

Analysts Set New Price Targets

FOXA has been the topic of several analyst reports. Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Cfra Research upgraded shares of FOX from a "hold" rating to a "moderate buy" rating in a research note on Monday, April 7th. Guggenheim reiterated a "buy" rating and set a $60.00 target price on shares of FOX in a research report on Tuesday, March 25th. The Goldman Sachs Group set a $60.00 price target on shares of FOX and gave the company a "buy" rating in a report on Tuesday, February 4th. Finally, Barclays reaffirmed an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Two research analysts have rated the stock with a sell rating, ten have given a hold rating and nine have issued a buy rating to the stock. According to MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $52.71.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred 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 represents a 4.61% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 21.77% of the company's stock.

FOX Stock Down 0.5%

Shares of NASDAQ:FOXA traded down $0.27 during midday trading on Monday, reaching $55.81. 2,555,649 shares of the company were exchanged, compared to its average volume of 3,482,451. The firm has a market cap of $25.09 billion, a PE ratio of 11.95, a P/E/G ratio of 1.27 and a beta of 0.51. Fox Co. has a fifty-two week low of $32.51 and a fifty-two week high of $58.74. The stock has a fifty day simple moving average of $51.34 and a two-hundred day simple moving average of $50.40. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA - Get Free Report) last released its quarterly earnings results on Monday, May 12th. The company reported $1.10 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.93 by $0.17. The firm had revenue of $4.37 billion for the quarter, compared to the consensus estimate of $4.14 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The company's revenue for the quarter was up 26.8% on a year-over-year basis. During the same quarter last year, the business posted $1.40 EPS. As a group, sell-side analysts forecast that Fox Co. will post 4.38 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.