8,319 Fox Corporation $FOX Shares Sold by Pictet Asset Management Holding SA

Pictet Asset Management Holding SA decreased its stake in shares of Fox Corporation (NASDAQ:FOX) by 8.9% in the third quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 84,747 shares of the company’s stock after selling 8,319 shares during the quarter. Pictet Asset Management Holding SA’s holdings in FOX were worth $4,771,000 as of its most recent SEC filing.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in FOX. Wedge Capital Management L L P NC purchased a new position in shares of FOX during the second quarter worth approximately $35,047,000. Assenagon Asset Management S.A. boosted its holdings in shares of FOX by 54.7% in the third quarter. Assenagon Asset Management S.A. now owns 655,706 shares of the company’s stock valued at $36,916,000 after purchasing an additional 231,724 shares during the period. Gamco Investors INC. ET AL boosted its holdings in shares of FOX by 10.0% in the first quarter. Gamco Investors INC. ET AL now owns 585,183 shares of the company’s stock valued at $31,073,000 after purchasing an additional 53,166 shares during the period. Gabelli Funds LLC boosted its holdings in shares of FOX by 2.3% in the first quarter. Gabelli Funds LLC now owns 579,800 shares of the company’s stock valued at $30,787,000 after purchasing an additional 13,200 shares during the period. Finally, Cooper Investors PTY Ltd. bought a new position in FOX in the third quarter worth approximately $24,136,000. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have commented on FOX shares. Weiss Ratings upgraded FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday, November 2nd. Citizens Jmp upgraded FOX to a “strong-buy” rating in a report on Monday, September 14th. Guggenheim reiterated a “buy” rating on shares of FOX in a report on Tuesday, August 25th. Royal Bank Of Canada set a $95.00 price target on FOX in a research report on Tuesday, October 20th. Finally, Wolfe Research set a $93.00 price target on FOX in a research note on Thursday, August 20th. Two investment analysts have rated the stock with a Strong Buy rating, six have assigned a Buy rating, one has given a Hold rating and one has given a Sell rating to the stock. Based on data from MarketBeat.com, FOX has a consensus rating of “Moderate Buy” and a consensus target price of $79.50.

FOX Stock Up 4.1%

Shares of FOX traded up $2.40 during mid-day trading on Friday, hitting $61.11. The company’s stock had a trading volume of 555,344 shares, compared to its average volume of 1,019,905. The company has a current ratio of 3.79, a quick ratio of 3.50 and a debt-to-equity ratio of 0.53. The company’s 50-day moving average is $57.92 and its 200-day moving average is $55.71. Fox Corporation has a 52-week low of $44.08 and a 52-week high of $68.18. The firm has a market capitalization of $25.78 billion, a price-to-earnings ratio of 12.97, a PEG ratio of 1.35 and a beta of 0.66.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, beating the consensus estimate of $2.06 by $0.48. The company had revenue of $4.57 billion for the quarter, compared to analyst estimates of $4.32 billion. FOX had a net margin of 11.30% and a return on equity of 23.96%. On average, equities research analysts forecast that Fox Corporation will post 6.22 EPS for the current fiscal year.

Insiders Place Their Bets

In related news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction on Tuesday, September 15th. The stock was bought at an average price of $68.53 per share, for a total transaction of $10,274,977.02. Following the completion of the acquisition, the chief executive officer directly owned 1,401,713 shares in the company, valued at approximately $96,059,391.89. This represents a 11.98% increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the SEC, which can be accessed through the SEC website. 23.06% of the stock is currently owned by corporate insiders.

About FOX

Fox Corporation is a U.S. media company that produces and distributes news, sports and entertainment programming. Its operations include the FOX broadcast network, Fox News Media, Fox Sports, FOX Entertainment and Fox Television Stations. The company also owns Tubi, an ad-supported streaming service. Fox Corporation was formed in 2019 after The Walt Disney Company acquired much of 21st Century Fox. The company’s programming and services are primarily aimed at audiences in the United States, with content also distributed to viewers in other markets.