Fox Corporation $FOXA Shares Sold by Bank of New York Mellon Corp

Bank of New York Mellon Corp decreased its stake in shares of Fox Corporation (NASDAQ:FOXA) by 31.8% during the 4th quarter, Holdings Channel reports. The institutional investor owned 1,312,594 shares of the company’s stock after selling 612,381 shares during the period. Bank of New York Mellon Corp’s holdings in FOX were worth $95,911,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in FOXA. Geneos Wealth Management Inc. raised its position in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock worth $52,000 after purchasing an additional 621 shares during the period. EverSource Wealth Advisors LLC boosted its position in shares of FOX by 286.4% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after purchasing an additional 1,014 shares during the period. Baird Financial Group Inc. increased its stake in FOX by 19.7% in the 2nd quarter. Baird Financial Group Inc. now owns 17,500 shares of the company’s stock worth $981,000 after purchasing an additional 2,876 shares in the last quarter. California State Teachers Retirement System increased its stake in FOX by 16.6% in the 2nd quarter. California State Teachers Retirement System now owns 350,844 shares of the company’s stock worth $19,661,000 after purchasing an additional 49,963 shares in the last quarter. Finally, Ameriprise Financial Inc. raised its holdings in FOX by 72.0% during the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after buying an additional 762,645 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Insider Transactions at FOX

In related news, CEO Lachlan K. Murdoch sold 637,752 shares of the business’s stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the sale, the chief executive officer directly owned 152 shares in the company, valued at $8,846.40. The trade was a 99.98% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available through the SEC website. Also, COO John Nallen sold 216,806 shares of the business’s stock in a transaction that occurred on Thursday, March 12th. The shares were sold at an average price of $57.68, for a total value of $12,505,370.08. Following the completion of the sale, the chief operating officer owned 362,206 shares of the company’s stock, valued at approximately $20,892,042.08. This trade represents a 37.44% decrease in their ownership of the stock. The disclosure for this sale is available in the SEC filing. In the last ninety days, insiders sold 1,586,871 shares of company stock worth $91,893,926. 19.68% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of equities research analysts have commented on the company. Argus upgraded FOX to a “hold” rating in a research report on Thursday, February 19th. Bank of America lowered shares of FOX from a “buy” rating to an “underperform” rating and set a $45.00 price target for the company. in a research report on Wednesday, February 25th. Weiss Ratings restated a “buy (b-)” rating on shares of FOX in a report on Friday, May 22nd. Deutsche Bank Aktiengesellschaft reaffirmed a “buy” rating and set a $79.00 price objective on shares of FOX in a research report on Tuesday, May 12th. Finally, Evercore set a $73.00 price objective on shares of FOX in a research note on Tuesday, May 12th. One investment analyst has rated the stock with a Strong Buy rating, seven have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the stock. According to MarketBeat, the stock has an average rating of “Hold” and an average target price of $74.86.

FOX Trading Up 0.8%

Shares of FOXA stock opened at $67.44 on Tuesday. The company has a market capitalization of $28.34 billion, a P/E ratio of 17.79, a P/E/G ratio of 3.47 and a beta of 0.51. Fox Corporation has a 12-month low of $52.96 and a 12-month high of $76.39. The company has a quick ratio of 2.65, a current ratio of 2.90 and a debt-to-equity ratio of 0.60. The firm has a 50-day moving average price of $63.48 and a 200 day moving average price of $65.11.

FOX (NASDAQ:FOXA) last announced its quarterly earnings data on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. During the same period last year, the company earned $1.10 earnings per share. The company’s revenue was down 8.6% on a year-over-year basis. Research analysts forecast that Fox Corporation will post 4.93 earnings per share for the current fiscal year.

FOX Company Profile

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.