Fox Corporation (NASDAQ:FOXA) Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. lowered its position in Fox Corporation (NASDAQ:FOXA - Free Report) by 2.4% in the first quarter, according to the company in its most recent disclosure with the SEC. The firm owned 556,151 shares of the company's stock after selling 13,657 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.12% of FOX worth $31,478,000 at the end of the most recent quarter.

A number of other large investors have also modified their holdings of FOXA. CIBC Private Wealth Group LLC raised its holdings in FOX by 122.3% in the 4th quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock worth $33,000 after purchasing an additional 368 shares during the period. Janney Montgomery Scott LLC increased its position in shares of FOX by 152.1% in the first quarter. Janney Montgomery Scott LLC now owns 31,794 shares of the company's stock valued at $1,800,000 after buying an additional 19,181 shares in the last quarter. Captrust Financial Advisors acquired a new position in FOX during the fourth quarter worth $306,000. Man Group plc acquired a new stake in shares of FOX in the fourth quarter valued at about $3,239,000. Finally, Center For Asset Management LLC purchased a new stake in shares of FOX during the first quarter worth about $841,000. Institutional investors and hedge funds own 52.52% of the company's stock.

Insider Buying and Selling

In other news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction 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 completion of the sale, the chief financial officer directly owned 133,923 shares of the company's stock, 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 filing with the SEC, which can be accessed through this hyperlink. 21.77% of the stock is owned by company insiders.

Analysts Set New Price Targets

A number of brokerages recently weighed in on FOXA. Wolfe Research lowered shares of FOX from a "peer perform" rating to an "underperform" rating and set a $48.00 price target on the stock. in a research note on Monday, April 7th. Cowen restated a "hold" rating on shares of FOX in a report on Tuesday, May 13th. 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 research report on Tuesday, May 13th. Loop Capital raised their price target on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Finally, Guggenheim reaffirmed a "buy" rating and set a $62.00 price objective (up previously from $60.00) on shares of FOX in a research note on Wednesday, June 25th. Two investment analysts have rated the stock with a sell rating, eleven have given a hold rating and nine have given a buy rating to the company. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $53.53.

FOX Stock Performance

Shares of FOX stock opened at $55.13 on Thursday. 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 firm has a market cap of $24.79 billion, a PE ratio of 13.71, a price-to-earnings-growth ratio of 1.25 and a beta of 0.51. The business's fifty day simple moving average is $53.81 and its 200-day simple moving average is $52.43. Fox Corporation has a 52 week low of $34.35 and a 52 week high of $58.74.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping 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 for the quarter, compared to analyst estimates of $4.14 billion. During the same period in the prior year, the business posted $1.40 EPS. The business's revenue for the quarter was up 26.8% compared to the same quarter last year. Equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

FOX 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.

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