Public Employees Retirement Association of Colorado acquired a new stake in Fox Corp (NASDAQ:FOXA) in the 3rd quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 62,846 shares of the company’s stock, valued at approximately $1,982,000.
A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the business. Macquarie Group Ltd. bought a new position in shares of FOX during the second quarter valued at approximately $29,000. M&R Capital Management Inc. bought a new position in shares of FOX during the third quarter valued at approximately $2,751,000. State of Alaska Department of Revenue bought a new position in shares of FOX during the third quarter valued at approximately $4,902,000. Fulton Bank N.A. bought a new position in shares of FOX during the third quarter valued at approximately $327,000. Finally, First Hawaiian Bank bought a new position in shares of FOX during the third quarter valued at approximately $526,000. Institutional investors own 56.28% of the company’s stock.
NASDAQ:FOXA traded down $0.22 during midday trading on Wednesday, hitting $34.26. The stock had a trading volume of 4,559,600 shares, compared to its average volume of 5,308,683. Fox Corp has a one year low of $29.69 and a one year high of $41.95. The company has a market capitalization of $21.81 billion and a price-to-earnings ratio of 13.03. The stock has a 50-day moving average of $32.14 and a 200 day moving average of $34.74. The company has a quick ratio of 2.96, a current ratio of 3.73 and a debt-to-equity ratio of 0.65.
A number of research analysts have recently commented on the company. BidaskClub cut FOX from a “hold” rating to a “sell” rating in a research note on Saturday, August 24th. Wells Fargo & Co upped their target price on FOX from $30.00 to $32.00 and gave the company an “underperform” rating in a research note on Thursday, November 7th. Evercore ISI reaffirmed a “buy” rating and set a $45.00 target price on shares of FOX in a research note on Thursday, August 8th. Citigroup dropped their price objective on FOX from $40.00 to $38.00 and set a “neutral” rating on the stock in a research note on Wednesday, September 11th. Finally, Macquarie cut FOX from a “neutral” rating to an “underperform” rating and dropped their price objective for the stock from $35.00 to $30.00 in a research note on Monday, September 9th. Seven equities research analysts have rated the stock with a sell rating, eight have assigned a hold rating and ten have assigned a buy rating to the company’s stock. FOX currently has an average rating of “Hold” and an average target price of $41.89.
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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