Glenmede Trust Co. NA Grows Stake in Fox Co. (NASDAQ:FOXA)

Glenmede Trust Co. NA increased its position in Fox Co. (NASDAQ:FOXA) by 244.0% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 389,470 shares of the company’s stock after acquiring an additional 276,259 shares during the period. Glenmede Trust Co. NA owned about 0.08% of FOX worth $16,486,000 at the end of the most recent reporting period.

A number of other hedge funds also recently bought and sold shares of the company. Jane Street Group LLC lifted its stake in shares of FOX by 25.2% in the 1st quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock worth $4,362,000 after purchasing an additional 28,072 shares during the period. iA Global Asset Management Inc. raised its position in FOX by 45.0% in the first quarter. iA Global Asset Management Inc. now owns 32,806 shares of the company’s stock worth $1,026,000 after acquiring an additional 10,179 shares during the period. Swedbank AB purchased a new position in shares of FOX during the 1st quarter worth $4,466,000. PGGM Investments grew its position in shares of FOX by 4.7% during the 1st quarter. PGGM Investments now owns 38,460 shares of the company’s stock valued at $1,203,000 after acquiring an additional 1,741 shares during the period. Finally, Verity Asset Management Inc. purchased a new stake in shares of FOX in the 1st quarter worth $204,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.2 %

Shares of FOXA opened at $46.71 on Friday. The business’s 50 day simple moving average is $43.36 and its 200-day simple moving average is $39.01. Fox Co. has a 1 year low of $28.28 and a 1 year high of $47.58. The company has a debt-to-equity ratio of 0.58, a current ratio of 2.59 and a quick ratio of 2.33. The stock has a market capitalization of $21.33 billion, a price-to-earnings ratio of 11.42, a price-to-earnings-growth ratio of 1.18 and a beta of 0.76.

FOX (NASDAQ:FOXA) last released its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.56 billion for the quarter, compared to the consensus estimate of $3.38 billion. During the same quarter in the prior year, the firm earned $1.09 earnings per share. FOX’s revenue was up 11.1% on a year-over-year basis. As a group, equities analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a filing with the SEC, which is available at this link. Also, COO John Nallen sold 182,481 shares of the firm’s 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 $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last quarter, insiders sold 469,352 shares of company stock valued at $20,822,072. Insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

FOXA has been the topic of several analyst reports. Barclays lifted their target price on FOX from $36.00 to $39.00 and gave the company an “equal weight” rating in a research report on Wednesday, October 9th. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research note on Tuesday, November 5th. Rosenblatt Securities raised their target price on shares of FOX from $37.00 to $38.00 and gave the stock a “neutral” rating in a research note on Wednesday, August 7th. TD Cowen upped their price target on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, Guggenheim raised their price objective on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have assigned a buy rating to the company’s stock. According to MarketBeat.com, the stock has a consensus rating of “Hold” and a consensus price target of $44.00.

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.