Mitsubishi UFJ Trust & Banking Corp Sells 127,156 Shares of Fox Corporation $FOXA

Key Points

• Mitsubishi UFJ Trust & Banking Corp reduced its FOXA stake by 47.6% in Q4, selling 127,156 shares and ending the quarter with 140,035 shares valued at about $10.23 million.
• There was a significant insider sell-off
• Analysts have a consensus "Hold" rating on FOXA with a $72.93 target; the stock trades at a ~15.2 P/E and has a market cap of about $26.95 billion.

Mitsubishi UFJ Trust & Banking Corp reduced its holdings in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 47.6% during the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The firm owned 140,035 shares of the company's stock after selling 127,156 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp's holdings in FOX were worth $10,232,000 as of its most recent SEC filing.

Other hedge funds have also bought and sold shares of the company. FWL Investment Management LLC bought a new stake in FOX during the third quarter worth $26,000. CYBER HORNET ETFs LLC bought a new stake in FOX during the second quarter worth $35,000. Rosenberg Matthew Hamilton lifted its holdings in FOX by 58.5% during the fourth quarter. Rosenberg Matthew Hamilton now owns 696 shares of the company's stock worth $51,000 after acquiring an additional 257 shares during the period. Quantbot Technologies LP bought a new stake in FOX during the third quarter worth $51,000. Finally, Private Trust Co. NA lifted its holdings in FOX by 35.6% during the fourth quarter. Private Trust Co. NA now owns 712 shares of the company's stock worth $52,000 after acquiring an additional 187 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

Several analysts have issued reports on the company. The Goldman Sachs Group restated a "buy" rating and issued a $80.00 target price on shares of FOX in a research note on Wednesday, February 4th. TD Cowen boosted their target price on FOX from $55.00 to $65.00 and gave the company a "hold" rating in a research note on Thursday, February 5th. Argus upgraded FOX to a "hold" rating in a research note on Thursday, February 19th. Citigroup boosted their target price on FOX from $77.00 to $78.00 and gave the company a "buy" rating in a research note on Thursday, February 5th. Finally, UBS Group set a $64.00 target price on FOX in a research note on Tuesday, February 24th. Seven investment analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, the company currently has a consensus rating of "Hold" and a consensus target price of $72.93.

Insider Buying and Selling at FOX

In other news, CEO Lachlan K. Murdoch sold 637,752 shares of FOX stock in a transaction on Friday, March 13th. The stock was sold at an average price of $58.20, for a total value of $37,117,166.40. Following the completion of the transaction, the chief executive officer directly owned 152 shares in the company, valued at approximately $8,846.40. The trade was a 99.98% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, COO John Nallen sold 242,309 shares of FOX stock in a transaction on Wednesday, March 11th. The shares were sold at an average price of $57.74, for a total value of $13,990,921.66. Following the completion of the transaction, the chief operating officer owned 357,653 shares of the company's stock, valued at approximately $20,650,884.22. This trade represents a 40.39% decrease in their ownership of the stock. The SEC filing for this sale provides additional information. Over the last quarter, insiders sold 1,586,871 shares of company stock valued at $91,893,926. 19.68% of the stock is owned by company insiders.

FOX Stock Performance

Shares of FOXA opened at $63.35 on Friday. The firm has a market cap of $26.95 billion, a PE ratio of 15.23, a PEG ratio of 7.82 and a beta of 0.50. The stock's fifty day moving average price is $59.78 and its two-hundred day moving average price is $64.60. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.78 and a quick ratio of 2.44. Fox Corporation has a 1 year low of $47.66 and a 1 year high of $76.39.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings results on Wednesday, February 4th. The company reported $0.82 earnings per share for the quarter, beating the consensus estimate of $0.47 by $0.35. The company had revenue of $5.18 billion during the quarter, compared to analysts' expectations of $5.02 billion. FOX had a return on equity of 18.14% and a net margin of 11.41%.The firm's quarterly revenue was up 2.0% compared to the same quarter last year. During the same period in the previous year, the business earned $0.96 earnings per share. On average, equities research analysts forecast that Fox Corporation will post 4.6 EPS for the current year.

FOX Dividend Announcement

The business also recently declared a dividend, which was paid on Wednesday, March 25th. Stockholders of record on Wednesday, March 4th were given a $0.28 dividend. The ex-dividend date was Wednesday, March 4th. This represents a dividend yield of 83.0%. FOX's payout ratio is 13.46%.

FOX Company Profile

Fox Corporation NASDAQ: FOXA is a U.S.-based media company focused on television broadcasting, cable news and sports programming, and digital distribution. The company was formed in 2019 as the successor to certain assets of 21st Century Fox after a transaction that transferred many film and television studio assets to The Walt Disney Company. Fox Corp's operations center on the Fox Broadcasting network, a portfolio of local television stations, national news and business cable networks, and sports media properties.

Fox produces, acquires and distributes a range of live and recorded programming, including news, opinion and commentary, national and local sports telecasts, and general entertainment.

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