Bank of New York Mellon Corp Has $106.94 Million Stake in Fox Corporation $FOXA

Bank of New York Mellon Corp grew its position in Fox Corporation (NASDAQ:FOXA) by 2.6% during the second quarter, HoldingsChannel.com reports. The firm owned 1,908,218 shares of the company’s stock after buying an additional 47,475 shares during the quarter. Bank of New York Mellon Corp’s holdings in FOX were worth $106,937,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Hemington Wealth Management raised its position in FOX by 217.6% in the 1st quarter. Hemington Wealth Management now owns 524 shares of the company’s stock valued at $29,000 after buying an additional 359 shares during the last quarter. Zions Bancorporation National Association UT acquired a new position in FOX during the 1st quarter worth approximately $40,000. Allworth Financial LP grew its stake in shares of FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after acquiring an additional 280 shares in the last quarter. TCTC Holdings LLC grew its stake in shares of FOX by 112.5% during the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock worth $45,000 after acquiring an additional 422 shares in the last quarter. Finally, Geneos Wealth Management Inc. raised its holdings in shares of FOX by 205.6% in the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after purchasing an additional 621 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

FOX Stock Performance

Shares of FOXA opened at $65.97 on Friday. The firm has a 50-day moving average of $60.63 and a 200-day moving average of $56.95. Fox Corporation has a one year low of $44.15 and a one year high of $66.64. The company has a market cap of $29.39 billion, a PE ratio of 14.82, a price-to-earnings-growth ratio of 1.47 and a beta of 0.52. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03.

FOX (NASDAQ:FOXA) last issued its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $1.10 by $0.41. FOX had a net margin of 12.35% and a return on equity of 18.61%. The company had revenue of $3.74 billion for the quarter, compared to analysts’ expectations of $3.57 billion. During the same period in the prior year, the firm earned $1.45 EPS. FOX’s quarterly revenue was up 4.9% compared to the same quarter last year. As a group, equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current year.

Insider Activity at FOX

In other news, Director Paul D. Ryan sold 17,767 shares of the firm’s stock in a transaction that occurred on Friday, October 31st. The stock was sold at an average price of $64.36, for a total value of $1,143,484.12. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 168,756 shares of FOX stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. Additional details regarding this sale are available in the official SEC disclosure. 19.68% of the stock is owned by corporate insiders.

Analyst Ratings Changes

Several brokerages recently commented on FOXA. Cfra Research upgraded shares of FOX from a “hold” rating to a “moderate buy” rating in a report on Tuesday, August 5th. Cowen reiterated a “hold” rating on shares of FOX in a research note on Friday, October 31st. Barclays increased their price objective on shares of FOX from $58.00 to $64.00 and gave the stock an “equal weight” rating in a research note on Friday, October 31st. TD Cowen raised their price objective on FOX from $53.00 to $55.00 and gave the company a “hold” rating in a report on Friday, October 31st. Finally, Zacks Research raised FOX from a “hold” rating to a “strong-buy” rating in a research report on Monday, November 3rd. Two analysts have rated the stock with a Strong Buy rating, nine have given a Buy rating and eight have issued a Hold rating to the company. According to MarketBeat.com, the company has a consensus rating of “Moderate Buy” and a consensus price target of $69.94.

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.