Bank of New York Mellon Corp Has $105.32 Million Holdings in Fox Corporation (NASDAQ:FOXA)

Bank of New York Mellon Corp lifted its holdings in Fox Corporation (NASDAQ:FOXA - Free Report) by 0.3% in the 1st quarter, according to the company in its most recent disclosure with the SEC. The institutional investor 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 as of its most recent filing with the SEC.

Other institutional investors and hedge funds also recently modified their holdings of the company. Norges Bank bought a new position in FOX during the fourth quarter valued at about $132,161,000. Jupiter Asset Management Ltd. bought a new position in FOX during the fourth quarter valued at about $67,471,000. FMR LLC boosted its stake in FOX by 240.2% during the fourth quarter. FMR LLC now owns 1,884,927 shares of the company's stock valued at $91,570,000 after buying an additional 1,330,908 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in FOX by 54.9% during the first quarter. Robeco Institutional Asset Management B.V. now owns 1,886,623 shares of the company's stock valued at $106,783,000 after buying an additional 668,553 shares in the last quarter. Finally, Northern Trust Corp boosted its stake in FOX by 17.1% during the fourth quarter. Northern Trust Corp now owns 3,501,659 shares of the company's stock valued at $170,111,000 after buying an additional 511,554 shares in the last quarter. Institutional investors own 52.52% of the company's stock.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the transaction, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,405,941.90. The trade was a 22.84% decrease in their position. The sale was disclosed in a filing with the SEC, which is available at the SEC website. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of several recent analyst reports. Loop Capital boosted their price objective on FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a report on Tuesday, May 13th. Morgan Stanley boosted their price objective on FOX from $57.00 to $60.00 and gave the stock an "equal weight" rating in a report on Tuesday, May 13th. Barclays restated an "outperform" rating on shares of FOX in a report on Tuesday, May 13th. Guggenheim restated a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a report on Wednesday, June 25th. Finally, Bank of America boosted their price objective on FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a report on Wednesday, June 25th. One investment analyst has rated the stock with a sell rating, twelve have issued a hold rating and nine have given a buy rating to the company. According to data from MarketBeat.com, the company presently has a consensus rating of "Hold" and an average price target of $53.53.

FOX Stock Down 2.9%

Shares of FOXA traded down $1.62 during midday trading on Friday, reaching $55.11. 2,322,916 shares of the stock were exchanged, compared to its average volume of 3,621,526. Fox Corporation has a 12-month low of $35.70 and a 12-month high of $58.74. The firm has a 50 day simple moving average of $54.67 and a 200-day simple moving average of $52.75. 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 market cap of $24.78 billion, a price-to-earnings ratio of 13.71, a P/E/G ratio of 1.27 and a beta of 0.51.

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