Bank of New York Mellon Corp Cuts Holdings in Fox Corporation (NASDAQ:FOX)

Bank of New York Mellon Corp trimmed its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 38.8% in the first quarter, according to the company in its most recent filing with the SEC. The fund owned 679,940 shares of the company's stock after selling 430,175 shares during the quarter. Bank of New York Mellon Corp owned 0.15% of FOX worth $35,840,000 at the end of the most recent quarter.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Harel Insurance Investments & Financial Services Ltd. grew its position in shares of FOX by 43.8% in the 1st quarter. Harel Insurance Investments & Financial Services Ltd. now owns 2,336 shares of the company's stock worth $123,000 after buying an additional 712 shares during the period. Teacher Retirement System of Texas bought a new stake in FOX during the 1st quarter worth approximately $1,089,000. Sumitomo Mitsui DS Asset Management Company Ltd raised its position in shares of FOX by 82.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company's stock valued at $1,126,000 after buying an additional 9,669 shares during the last quarter. New York State Teachers Retirement System grew its holdings in shares of FOX by 3.0% in the first quarter. New York State Teachers Retirement System now owns 179,877 shares of the company's stock valued at $9,481,000 after purchasing an additional 5,317 shares in the last quarter. Finally, KBC Group NV grew its holdings in shares of FOX by 35.8% in the first quarter. KBC Group NV now owns 34,095 shares of the company's stock valued at $1,797,000 after purchasing an additional 8,987 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction dated Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Corporate insiders own 23.06% of the company's stock.

FOX Stock Up 1.4%

NASDAQ FOX opened at $51.32 on Tuesday. The firm has a market capitalization of $23.07 billion, a price-to-earnings ratio of 12.77, a PEG ratio of 1.14 and a beta of 0.56. Fox Corporation has a 52 week low of $33.35 and a 52 week high of $55.00. The company has a quick ratio of 2.33, a current ratio of 2.45 and a debt-to-equity ratio of 0.57. The company has a fifty day moving average of $50.42 and a two-hundred day moving average of $49.15.

FOX (NASDAQ:FOX - Get Free Report) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, topping analysts' consensus estimates of $0.96 by $0.14. FOX had a net margin of 11.58% and a return on equity of 17.99%. The company had revenue of $4.37 billion during the quarter, compared to analyst estimates of $4.19 billion. On average, analysts predict that Fox Corporation will post 4.25 earnings per share for the current year.

About FOX

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.

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