Sumitomo Mitsui Trust Group Inc. Raises Position in Fox Corporation (NASDAQ:FOX)

Sumitomo Mitsui Trust Group Inc. lifted its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 11.0% in the 1st quarter, according to its most recent filing with the Securities & Exchange Commission. The fund owned 370,959 shares of the company's stock after purchasing an additional 36,724 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned about 0.08% of FOX worth $19,553,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors have also recently modified their holdings of FOX. BSW Wealth Partners acquired a new position in FOX during the 1st quarter valued at approximately $250,000. Mirae Asset Global Investments Co. Ltd. increased its position in shares of FOX by 9.6% in the 1st quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,483 shares of the company's stock valued at $883,000 after acquiring an additional 1,528 shares during the period. Achmea Investment Management B.V. raised its stake in FOX by 33.4% in the 1st quarter. Achmea Investment Management B.V. now owns 15,019 shares of the company's stock worth $792,000 after acquiring an additional 3,757 shares during the last quarter. Asset Management One Co. Ltd. raised its stake in FOX by 5.1% in the 1st quarter. Asset Management One Co. Ltd. now owns 61,623 shares of the company's stock worth $3,248,000 after acquiring an additional 2,973 shares during the last quarter. Finally, Kentucky Retirement Systems Insurance Trust Fund acquired a new stake in FOX during the 1st quarter worth about $203,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction on Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total value of $310,459.59. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. 23.06% of the stock is owned by company insiders.

FOX Stock Performance

FOX stock traded up $1.00 during trading hours on Friday, hitting $51.77. 1,041,473 shares of the stock traded hands, compared to its average volume of 1,182,556. The firm's 50 day moving average price is $49.72 and its 200-day moving average price is $48.90. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. The stock has a market capitalization of $23.28 billion, a price-to-earnings ratio of 12.88, a P/E/G ratio of 1.14 and a beta of 0.56. Fox Corporation has a 1 year low of $32.02 and a 1 year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts' consensus estimates of $0.96 by $0.14. FOX had a return on equity of 17.99% and a net margin of 11.58%. The firm had revenue of $4.37 billion for the quarter, compared to analyst estimates of $4.19 billion. As a group, equities analysts expect that Fox Corporation will post 4.25 EPS for the current fiscal year.

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.