Envestnet Asset Management Inc. Decreases Stock Holdings in Fox Co. (NASDAQ:FOXA)

Envestnet Asset Management Inc. reduced its holdings in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 11.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 319,415 shares of the company’s stock after selling 42,697 shares during the quarter. Envestnet Asset Management Inc. owned 0.06% of FOX worth $9,701,000 at the end of the most recent quarter.

Other institutional investors also recently bought and sold shares of the company. Raymond James Financial Services Advisors Inc. grew its stake in shares of FOX by 13.7% during the first quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock valued at $800,000 after acquiring an additional 2,440 shares in the last quarter. American Century Companies Inc. grew its stake in FOX by 2.6% during the 1st quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock valued at $2,210,000 after purchasing an additional 1,428 shares in the last quarter. US Bancorp DE increased its holdings in FOX by 34.7% during the 1st quarter. US Bancorp DE now owns 12,614 shares of the company’s stock worth $498,000 after purchasing an additional 3,249 shares during the last quarter. PNC Financial Services Group Inc. raised its position in shares of FOX by 6.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock valued at $974,000 after purchasing an additional 1,486 shares in the last quarter. Finally, Acadian Asset Management LLC boosted its stake in shares of FOX by 196.3% during the 1st quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock valued at $107,000 after buying an additional 1,800 shares during the last quarter. 55.65% of the stock is currently owned by hedge funds and other institutional investors.

Analysts Set New Price Targets

Several analysts recently issued reports on the stock. Bank of America cut shares of FOX from a “buy” rating to a “neutral” rating and cut their price target for the company from $42.00 to $34.00 in a report on Tuesday, March 28th. StockNews.com started coverage on shares of FOX in a research report on Thursday, March 16th. They set a “hold” rating on the stock. Loop Capital raised FOX from a “hold” rating to a “buy” rating and boosted their price objective for the company from $34.00 to $40.00 in a report on Wednesday, January 25th. Citigroup increased their target price on FOX from $35.00 to $40.00 and gave the stock a “neutral” rating in a report on Monday, February 13th. Finally, Barclays lowered their price target on FOX from $36.00 to $35.00 and set an “equal weight” rating for the company in a report on Friday, April 14th. Two analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the stock. Based on data from MarketBeat, the company currently has an average rating of “Hold” and a consensus target price of $37.39.

FOX Stock Down 1.7 %

FOXA opened at $30.67 on Friday. The stock’s 50 day moving average price is $33.24 and its 200 day moving average price is $32.49. The company has a debt-to-equity ratio of 0.62, a current ratio of 3.37 and a quick ratio of 2.86. The stock has a market cap of $16.40 billion, a P/E ratio of 11.23, a P/E/G ratio of 0.96 and a beta of 0.85. Fox Co. has a 12 month low of $28.01 and a 12 month high of $37.26.

FOX (NASDAQ:FOXA – Get Rating) last issued its quarterly earnings results on Tuesday, May 9th. The company reported $0.94 EPS for the quarter, beating analysts’ consensus estimates of $0.88 by $0.06. The company had revenue of $4.08 billion for the quarter, compared to analyst estimates of $4.03 billion. FOX had a return on equity of 15.71% and a net margin of 10.55%. The company’s quarterly revenue was up 18.2% compared to the same quarter last year. During the same period last year, the company earned $0.81 earnings per share. As a group, research analysts predict that Fox Co. will post 3.38 earnings per share for the current year.

FOX Company Profile

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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.