Bank of New York Mellon Corp Has $106.94 Million Stock Position in Fox Corporation $FOXA

Bank of New York Mellon Corp increased its position in shares of Fox Corporation (NASDAQ:FOXA) by 2.6% during the 2nd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,908,218 shares of the company’s stock after acquiring an additional 47,475 shares during the quarter. Bank of New York Mellon Corp owned about 0.42% of FOX worth $106,937,000 at the end of the most recent quarter.

Several other hedge funds have also added to or reduced their stakes in the company. Greenleaf Trust increased its position in FOX by 3.1% in the first quarter. Greenleaf Trust now owns 6,778 shares of the company’s stock worth $384,000 after purchasing an additional 205 shares during the period. Allworth Financial LP boosted its stake in shares of FOX by 55.2% in the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock valued at $45,000 after purchasing an additional 280 shares during the last quarter. Hemington Wealth Management grew its position in shares of FOX by 217.6% during the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after buying an additional 359 shares during the period. Amalgamated Bank grew its position in shares of FOX by 0.9% during the 2nd quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock worth $2,393,000 after buying an additional 360 shares during the period. Finally, Hartford Investment Management Co. raised its stake in shares of FOX by 2.9% during the second quarter. Hartford Investment Management Co. now owns 13,681 shares of the company’s stock worth $767,000 after buying an additional 388 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Insider Activity

In other FOX news, Director Paul D. Ryan sold 17,767 shares of FOX stock in a transaction that occurred on Friday, October 31st. The shares were sold at an average price of $64.36, for a total value of $1,143,484.12. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of the company’s stock in a transaction that occurred on Friday, November 7th. The shares were sold at an average price of $65.97, for a total transaction of $11,132,833.32. The disclosure for this sale is available in the SEC filing. Insiders own 19.68% of the company’s stock.

FOX Price Performance

FOXA opened at $65.97 on Friday. The stock has a market cap of $29.39 billion, a P/E ratio of 14.82, a P/E/G ratio of 1.47 and a beta of 0.52. Fox Corporation has a 12 month low of $44.15 and a 12 month high of $66.64. The company has a quick ratio of 3.03, a current ratio of 3.24 and a debt-to-equity ratio of 0.54. The company has a fifty day simple moving average of $60.63 and a 200 day simple moving average of $56.95.

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

Analyst Upgrades and Downgrades

A number of equities analysts have issued reports on FOXA shares. Cowen reaffirmed a “hold” rating on shares of FOX in a research note on Friday, October 31st. Arete Research raised FOX to a “strong-buy” rating in a research note on Tuesday, October 28th. Evercore ISI lifted their price objective on FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research note on Friday, October 31st. Weiss Ratings reiterated a “buy (b+)” rating on shares of FOX in a report on Wednesday, October 8th. Finally, Bank of America increased their target price on FOX from $65.00 to $70.00 and gave the company a “buy” rating in a research note on Friday, September 26th. Two research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the stock. According to MarketBeat.com, the company presently has an average rating of “Moderate Buy” and a consensus price target of $69.94.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses news and sports content for distribution through traditional cable television systems, direct broadcast satellite operators and telecommunication companies, virtual multi-channel video programming distributors, and other digital platforms primarily in the U.S.