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New York State Common Retirement Fund Decreases Stake in Fox Co. (NASDAQ:FOXA)

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New York State Common Retirement Fund reduced its stake in shares of Fox Co. (NASDAQ:FOXA) by 2.4% during the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 374,418 shares of the company’s stock after selling 9,112 shares during the quarter. New York State Common Retirement Fund owned about 0.07% of FOX worth $15,018,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors also recently modified their holdings of the business. Dodge & Cox increased its stake in FOX by 11.6% during the second quarter. Dodge & Cox now owns 48,721,900 shares of the company’s stock worth $1,809,044,000 after acquiring an additional 5,050,236 shares during the last quarter. BlackRock Inc. grew its stake in shares of FOX by 2.4% during the second quarter. BlackRock Inc. now owns 41,283,868 shares of the company’s stock valued at $1,532,868,000 after buying an additional 979,432 shares during the last quarter. Vanguard Group Inc. grew its stake in shares of FOX by 0.4% during the second quarter. Vanguard Group Inc. now owns 34,218,979 shares of the company’s stock valued at $1,270,551,000 after buying an additional 147,799 shares during the last quarter. Ninety One UK Ltd grew its stake in shares of FOX by 10.8% during the third quarter. Ninety One UK Ltd now owns 10,293,030 shares of the company’s stock valued at $412,853,000 after buying an additional 1,003,216 shares during the last quarter. Finally, Geode Capital Management LLC grew its stake in shares of FOX by 1.0% during the second quarter. Geode Capital Management LLC now owns 6,510,100 shares of the company’s stock valued at $241,240,000 after buying an additional 62,941 shares during the last quarter. 53.42% of the stock is currently owned by institutional investors.

A number of research firms have recently commented on FOXA. Deutsche Bank Aktiengesellschaft upped their target price on FOX from $43.00 to $47.00 and gave the company a “buy” rating in a research note on Thursday, November 4th. They noted that the move was a valuation call. Credit Suisse Group boosted their price target on FOX from $44.00 to $48.00 and gave the company an “outperform” rating in a report on Friday, October 8th. Zacks Investment Research upgraded FOX from a “hold” rating to a “buy” rating and set a $44.00 price target for the company in a report on Tuesday, October 5th. Needham & Company LLC reiterated a “hold” rating on shares of FOX in a report on Thursday, September 30th. Finally, Rosenblatt Securities upgraded FOX from a “neutral” rating to a “buy” rating and boosted their price target for the company from $39.00 to $48.00 in a report on Thursday, September 30th. Three analysts have rated the stock with a hold rating and nine have given a buy rating to the company. According to MarketBeat, the stock has a consensus rating of “Buy” and a consensus price target of $43.08.

NASDAQ:FOXA opened at $36.90 on Friday. Fox Co. has a 52 week low of $28.46 and a 52 week high of $44.80. The company has a quick ratio of 2.70, a current ratio of 3.09 and a debt-to-equity ratio of 0.63. The stock has a market capitalization of $21.02 billion, a PE ratio of 12.42, a price-to-earnings-growth ratio of 1.50 and a beta of 1.11. The stock’s 50-day moving average price is $38.47 and its 200-day moving average price is $38.06.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, November 3rd. The company reported $1.11 earnings per share for the quarter, beating the Zacks’ consensus estimate of $1.00 by $0.11. The firm had revenue of $3.05 billion for the quarter, compared to analyst estimates of $2.91 billion. FOX had a net margin of 13.18% and a return on equity of 14.71%. During the same period last year, the company posted $1.18 EPS. Sell-side analysts expect that Fox Co. will post 2.85 earnings per share for the current fiscal year.

FOX Company Profile

Fox Corp. delivers compelling 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.

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