Bank of New York Mellon Corp Increases Stake in Fox Corporation (NASDAQ:FOXA)

Bank of New York Mellon Corp raised its stake in Fox Corporation (NASDAQ:FOXA - Free Report) by 0.3% during the 1st quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,860,743 shares of the company's stock after purchasing an additional 5,683 shares during the quarter. Bank of New York Mellon Corp owned 0.41% of FOX worth $105,318,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. World Investment Advisors purchased a new position in FOX during the first quarter worth about $772,000. Wayfinding Financial LLC acquired a new position in FOX during the 1st quarter worth approximately $64,000. Brookstone Capital Management raised its stake in shares of FOX by 307.7% during the 1st quarter. Brookstone Capital Management now owns 41,268 shares of the company's stock worth $2,336,000 after buying an additional 31,147 shares in the last quarter. IFM Investors Pty Ltd lifted its holdings in shares of FOX by 11.0% in the 1st quarter. IFM Investors Pty Ltd now owns 58,408 shares of the company's stock valued at $3,306,000 after buying an additional 5,804 shares during the period. Finally, GF Fund Management CO. LTD. acquired a new stake in shares of FOX in the 1st quarter valued at approximately $576,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Buying and Selling at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of the firm's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. 21.77% of the stock is currently owned by corporate insiders.

FOX Price Performance

FOXA stock traded up $1.52 on Thursday, reaching $56.73. The company had a trading volume of 5,008,330 shares, compared to its average volume of 3,612,511. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.45. Fox Corporation has a 1 year low of $35.18 and a 1 year high of $58.74. The company's fifty day moving average is $54.41 and its 200 day moving average is $52.66. The company has a market cap of $25.51 billion, a P/E ratio of 14.11, a PEG ratio of 1.23 and a beta of 0.51.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Monday, May 12th. The company reported $1.10 earnings per share for the quarter, beating the consensus estimate of $0.93 by $0.17. FOX had a net margin of 11.58% and a return on equity of 17.99%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.14 billion. During the same quarter in the previous year, the company posted $1.40 EPS. The firm's revenue for the quarter was up 26.8% on a year-over-year basis. On average, research analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

Wall Street Analyst Weigh In

A number of research analysts recently weighed in on FOXA shares. Cowen reaffirmed a "hold" rating on shares of FOX in a report on Tuesday, May 13th. Cfra Research cut shares of FOX from a "moderate buy" rating to a "hold" rating in a research note on Friday, June 27th. Barclays reiterated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. UBS Group set a $65.00 price objective on shares of FOX and gave the stock a "buy" rating in a report on Wednesday, June 25th. Finally, Wells Fargo & Company increased their target price on shares of FOX from $58.00 to $62.00 and gave the company an "overweight" rating in a report on Tuesday, May 13th. One equities research analyst has rated the stock with a sell rating, twelve have given a hold rating and nine have given a buy rating to the company's stock. According to MarketBeat, FOX currently has an average rating of "Hold" and an average target price of $53.53.

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.