Bank of New York Mellon Corp Sells 23,235 Shares of Fox Corporation $FOX

Bank of New York Mellon Corp lowered its stake in shares of Fox Corporation (NASDAQ:FOX) by 3.5% during the first quarter, HoldingsChannel reports. The firm owned 643,580 shares of the company’s stock after selling 23,235 shares during the quarter. Bank of New York Mellon Corp’s holdings in FOX were worth $34,174,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also made changes to their positions in FOX. Brown Brothers Harriman & Co. grew its stake in shares of FOX by 336.9% in the third quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after buying an additional 475 shares in the last quarter. FNY Investment Advisers LLC bought a new stake in FOX during the fourth quarter worth $83,000. Geneos Wealth Management Inc. lifted its stake in FOX by 95.1% in the first quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after acquiring an additional 703 shares during the last quarter. EverSource Wealth Advisors LLC lifted its stake in FOX by 130.2% in the second quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after acquiring an additional 1,301 shares during the last quarter. Finally, Covestor Ltd grew its position in shares of FOX by 139.1% in the 4th quarter. Covestor Ltd now owns 2,955 shares of the company’s stock valued at $192,000 after acquiring an additional 1,719 shares during the period. 26.41% of the stock is owned by institutional investors.

Analysts Set New Price Targets

A number of equities research analysts have recently issued reports on the stock. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Citigroup reiterated a “buy” rating on shares of FOX in a report on Friday, July 17th. Rothschild & Co Redburn set a $71.00 price objective on FOX in a research note on Friday, July 10th. Finally, Weiss Ratings cut FOX from a “buy (b)” rating to a “buy (b-)” rating in a research report on Monday, July 20th. One equities research analyst has rated the stock with a Strong Buy rating, five have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company’s stock. Based on data from MarketBeat, the company has a consensus rating of “Moderate Buy” and an average price target of $74.33.

FOX News Summary

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox News continued to generate attention with high-traffic coverage of major political, international, and U.S. crime stories, including Iran, Trump, and antisemitic violence-related reporting, which can help support viewer engagement and advertising demand. Fox News coverage
• Neutral Sentiment: FOX was cited in a short-interest update, but the data showed 0 shares of short interest and a 0.0 days-to-cover ratio, so the report does not provide a meaningful new trading signal.
• Neutral Sentiment: Additional Fox News articles covered developments such as a CDC investigation into Ohio cyclosporiasis cases, a controversy involving an Oklahoma state agency attorney, and other local and national news items, reinforcing the network’s broad news flow but without a clear direct impact on FOX’s fundamentals.

FOX Stock Performance

Shares of NASDAQ FOX opened at $49.41 on Monday. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The firm has a market cap of $20.76 billion, a price-to-earnings ratio of 13.04, a P/E/G ratio of 1.41 and a beta of 0.57. The stock’s fifty day moving average price is $52.64 and its two-hundred day moving average price is $55.58. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping the consensus estimate of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. On average, equities analysts forecast that Fox Corporation will post 4.78 EPS for the current year.

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.