Bank of New York Mellon Corp Has $121.39 Million Holdings in Fox Corporation $FOXA

Bank of New York Mellon Corp increased its position in Fox Corporation (NASDAQ:FOXA) by 0.9% in the third quarter, according to its most recent 13F filing with the SEC. The firm owned 1,924,975 shares of the company’s stock after purchasing an additional 16,757 shares during the period. Bank of New York Mellon Corp owned about 0.43% of FOX worth $121,389,000 at the end of the most recent reporting period.

Several other large investors also recently added to or reduced their stakes in FOXA. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX in the third quarter worth $75,000. Root Financial Partners LLC purchased a new stake in FOX in the 3rd quarter worth about $60,000. Allstate Corp acquired a new stake in FOX during the 3rd quarter worth about $403,000. New York State Teachers Retirement System grew its stake in FOX by 3.1% during the 3rd quarter. New York State Teachers Retirement System now owns 172,641 shares of the company’s stock valued at $10,887,000 after acquiring an additional 5,144 shares in the last quarter. Finally, Oregon Public Employees Retirement Fund increased its holdings in shares of FOX by 29.4% in the 3rd quarter. Oregon Public Employees Retirement Fund now owns 23,952 shares of the company’s stock valued at $1,510,000 after purchasing an additional 5,448 shares during the period. 52.52% of the stock is owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

FOXA has been the subject of several research reports. Morgan Stanley raised their price target on shares of FOX from $70.00 to $74.00 and gave the stock an “equal weight” rating in a report on Thursday, December 18th. UBS Group set a $87.00 price target on shares of FOX in a report on Friday, December 19th. Arete Research raised shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price target on the stock in a research note on Tuesday, October 28th. Fox Advisors set a $97.00 price objective on FOX in a research report on Tuesday, October 28th. Finally, Barclays boosted their target price on FOX from $58.00 to $64.00 and gave the company an “equal weight” rating in a research note on Friday, October 31st. One equities research analyst has rated the stock with a Strong Buy rating, nine have assigned a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat.com, FOX currently has an average rating of “Moderate Buy” and an average price target of $75.07.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $72.78 on Friday. The stock has a market capitalization of $32.31 billion, a P/E ratio of 16.36, a P/E/G ratio of 1.61 and a beta of 0.50. The business has a 50-day moving average of $71.40 and a two-hundred day moving average of $63.90. Fox Corporation has a fifty-two week low of $46.42 and a fifty-two week high of $76.39. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. The business had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. FOX had a return on equity of 18.61% and a net margin of 12.35%.The firm’s revenue was up 4.9% compared to the same quarter last year. During the same period last year, the business earned $1.45 EPS. On average, equities research analysts predict that Fox Corporation will post 4.38 EPS for the current fiscal year.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction on Friday, November 21st. The shares were sold at an average price of $59.26, for a total value of $5,926,000.00. Following the transaction, the chairman directly owned 1,100,862 shares in the company, valued at approximately $65,237,082.12. This trade represents a 8.33% decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction on Monday, November 10th. The stock was sold at an average price of $66.54, for a total transaction of $9,208,936.38. Following the completion of the transaction, the chief financial officer owned 180,556 shares in the company, valued at $12,014,196.24. This trade represents a 43.39% decrease in their position. The SEC filing for this sale provides additional information. In the last three months, insiders sold 437,050 shares of company stock valued at $28,347,106. Company insiders own 19.68% of the company’s stock.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp’s operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.