Sumitomo Mitsui Trust Group Inc. reduced its position in Fox Corporation (NASDAQ:FOX – Free Report) by 6.0% in the 3rd quarter, Holdings Channel reports. The institutional investor owned 312,978 shares of the company’s stock after selling 19,824 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $17,621,000 as of its most recent SEC filing.
Several other institutional investors and hedge funds have also recently bought and sold shares of the company. Mirae Asset Global Investments Co. Ltd. bought a new position in FOX during the 3rd quarter worth approximately $2,084,000. Summit Global Investments grew its position in shares of FOX by 101.2% in the 3rd quarter. Summit Global Investments now owns 46,609 shares of the company’s stock worth $2,624,000 after acquiring an additional 23,439 shares in the last quarter. Choreo LLC acquired a new position in shares of FOX in the 3rd quarter worth approximately $320,000. Interchange Capital Partners LLC acquired a new position in shares of FOX in the 3rd quarter worth approximately $244,000. Finally, Transmarket Holdings LP bought a new stake in shares of FOX in the 3rd quarter valued at approximately $2,821,000. Institutional investors and hedge funds own 26.41% of the company’s stock.
Insider Activity at FOX
In related news, CEO Lachlan Murdoch bought 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The stock was bought at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the acquisition, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their ownership of the stock. The purchase was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this hyperlink. Company insiders own 23.06% of the company’s stock.
Analyst Ratings Changes
Several equities research analysts recently issued reports on FOX shares. Seaport Research Partners lowered FOX from a “buy” rating to a “hold” rating in a research report on Friday, August 7th. Citigroup restated a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Weiss Ratings raised shares of FOX from a “buy (b-)” rating to a “buy (b)” rating in a report on Monday. Fox Advisors reiterated a “market outperform” rating on shares of FOX in a research note on Tuesday, October 20th. Finally, Wolfe Research set a $93.00 target price on shares of FOX in a research note on Thursday, August 20th. Three equities research analysts have rated the stock with a Strong Buy rating, six have given a Buy rating and one has given a Sell rating to the stock. According to data from MarketBeat.com, FOX has an average rating of “Buy” and an average target price of $79.50.
FOX Price Performance
FOX opened at $59.99 on Friday. The firm has a market cap of $25.17 billion, a price-to-earnings ratio of 12.74, a price-to-earnings-growth ratio of 1.35 and a beta of 0.66. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The company’s 50-day moving average price is $57.94 and its 200 day moving average price is $55.87. The company has a quick ratio of 2.99, a current ratio of 3.79 and a debt-to-equity ratio of 0.53.
FOX (NASDAQ:FOX – Get Free Report) last issued its earnings results on Monday, November 2nd. The company reported $2.54 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $2.06 by $0.48. FOX had a net margin of 11.30% and a return on equity of 23.96%. The firm had revenue of $4.57 billion for the quarter, compared to analysts’ expectations of $4.32 billion. As a group, sell-side analysts expect that Fox Corporation will post 6.54 earnings per share for the current year.
About FOX
Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.
The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.
Read More
- Five stocks we like better than FOX
- Google’s Credit Backstop May Be TeraWulf’s Biggest Advantage
- Could the Midterms Revive Medicare for All? 3 Healthcare Stocks to Watch
- Qualcomm Beat Earnings, But Its Fastest-Growing Businesses Have a Catch
- Oil, Uranium, or Renewables? 3 Energy Plays for a Changing Market
Want to see what other hedge funds are holding FOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corporation (NASDAQ:FOX – Free Report).
Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.
