IFM Investors Pty Ltd acquired a new position in Fox Corp (NASDAQ:FOX) in the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The fund acquired 19,632 shares of the company’s stock, valued at approximately $619,000.
Several other institutional investors and hedge funds have also recently modified their holdings of FOX. Russell Investments Group Ltd. bought a new stake in FOX during the third quarter valued at about $257,000. LS Investment Advisors LLC bought a new stake in FOX during the third quarter valued at about $255,000. Texas Permanent School Fund bought a new stake in FOX during the third quarter valued at about $954,000. Comerica Bank bought a new stake in FOX during the third quarter valued at about $977,000. Finally, California Public Employees Retirement System bought a new stake in FOX during the third quarter valued at about $39,319,000. 23.70% of the stock is owned by institutional investors.
Several research firms have issued reports on FOX. Wells Fargo & Co reissued an “underperform” rating and set a $32.00 price target (up previously from $30.00) on shares of FOX in a report on Thursday, November 7th. BidaskClub raised FOX from a “sell” rating to a “hold” rating in a report on Friday. Finally, Zacks Investment Research lowered FOX from a “hold” rating to a “sell” rating in a report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, two have given a hold rating and one has issued a buy rating to the company. FOX has a consensus rating of “Hold” and an average price target of $40.00.
In other FOX news, Chairman Keith Rupert Murdoch acquired 500,000 shares of the company’s stock in a transaction dated Wednesday, August 28th. The stock was purchased at an average price of $32.06 per share, with a total value of $16,030,000.00. Following the completion of the purchase, the chairman now directly owns 805,714 shares in the company, valued at approximately $25,831,190.84. The acquisition was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Corporate insiders own 17.47% of the company’s stock.
Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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