Sumitomo Mitsui Trust Group Inc. Sells 55,689 Shares of Fox Corporation $FOXA

Sumitomo Mitsui Trust Group Inc. reduced its holdings in Fox Corporation (NASDAQ:FOXA) by 9.7% during the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 516,456 shares of the company’s stock after selling 55,689 shares during the period. Sumitomo Mitsui Trust Group Inc. owned approximately 0.12% of FOX worth $30,161,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOXA. Geode Capital Management LLC grew its holdings in FOX by 0.5% during the 4th quarter. Geode Capital Management LLC now owns 6,534,627 shares of the company’s stock worth $476,248,000 after acquiring an additional 29,923 shares during the period. Ameriprise Financial Inc. boosted its position in shares of FOX by 72.0% in the 2nd quarter. Ameriprise Financial Inc. now owns 1,821,284 shares of the company’s stock worth $101,948,000 after purchasing an additional 762,645 shares during the last quarter. PFA Pension Forsikringsaktieselskab bought a new position in shares of FOX in the 4th quarter worth $67,467,000. SG Americas Securities LLC grew its stake in shares of FOX by 299.8% during the first quarter. SG Americas Securities LLC now owns 511,811 shares of the company’s stock worth $29,890,000 after purchasing an additional 383,782 shares during the period. Finally, California State Teachers Retirement System grew its stake in shares of FOX by 11.5% during the fourth quarter. California State Teachers Retirement System now owns 417,901 shares of the company’s stock worth $30,536,000 after purchasing an additional 43,232 shares during the period. 52.52% of the stock is owned by institutional investors.

FOX Trading Up 3.3%

NASDAQ FOXA opened at $55.90 on Tuesday. The firm has a market cap of $23.49 billion, a P/E ratio of 14.75, a P/E/G ratio of 1.54 and a beta of 0.54. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The stock’s 50-day moving average is $60.04 and its 200-day moving average is $62.75. Fox Corporation has a one year low of $48.34 and a one year high of $76.39.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Monday, May 11th. The company reported $1.32 earnings per share (EPS) for the quarter, beating the consensus estimate of $1.02 by $0.30. The business had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%.FOX’s quarterly revenue was down 8.6% compared to the same quarter last year. During the same period in the previous year, the firm earned $1.10 EPS. Sell-side analysts anticipate that Fox Corporation will post 4.93 earnings per share for the current fiscal year.

Wall Street Analyst Weigh In

Several equities analysts have weighed in on FOXA shares. Weiss Ratings reissued a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Wolfe Research upgraded FOX from a “peer perform” rating to an “outperform” rating and set a $71.00 target price for the company in a research report on Tuesday, June 30th. Evercore set a $73.00 price target on FOX in a research note on Tuesday, May 12th. Barclays cut their price target on shares of FOX from $67.00 to $60.00 and set an “equal weight” rating on the stock in a research report on Monday, June 15th. Finally, Deutsche Bank Aktiengesellschaft reissued a “buy” rating and set a $79.00 price objective on shares of FOX in a research note on Tuesday, May 12th. One research analyst has rated the stock with a Strong Buy rating, eight have issued a Buy rating, eight have issued a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $73.56.

About FOX

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.