Sumitomo Mitsui Trust Group Inc. Has $18.35 Million Stock Position in Fox Corporation $FOX

Sumitomo Mitsui Trust Group Inc. lowered its position in Fox Corporation (NASDAQ:FOX) by 6.6% during the first quarter, HoldingsChannel.com reports. The firm owned 345,547 shares of the company’s stock after selling 24,376 shares during the quarter. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $18,349,000 as of its most recent SEC filing.

Several other hedge funds also recently bought and sold shares of the company. Marshall Wace LLP lifted its holdings in shares of FOX by 792.4% during the 3rd quarter. Marshall Wace LLP now owns 3,184,642 shares of the company’s stock valued at $182,448,000 after buying an additional 2,827,768 shares during the last quarter. Bank of New York Mellon Corp increased its holdings in FOX by 1.5% in the fourth quarter. Bank of New York Mellon Corp now owns 666,815 shares of the company’s stock worth $43,296,000 after buying an additional 10,165 shares during the last quarter. Gabelli Funds LLC raised its position in FOX by 5.2% during the fourth quarter. Gabelli Funds LLC now owns 566,600 shares of the company’s stock valued at $36,789,000 after acquiring an additional 28,200 shares in the last quarter. SG Americas Securities LLC raised its position in FOX by 2,459.6% during the fourth quarter. SG Americas Securities LLC now owns 413,037 shares of the company’s stock valued at $26,818,000 after acquiring an additional 396,900 shares in the last quarter. Finally, Pinebridge Investments LLC acquired a new stake in FOX in the fourth quarter valued at approximately $13,758,000. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Stock Performance

NASDAQ:FOX opened at $50.22 on Tuesday. The firm has a market capitalization of $21.10 billion, a PE ratio of 13.25, a PEG ratio of 1.39 and a beta of 0.57. Fox Corporation has a 1 year low of $44.08 and a 1 year high of $68.18. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. The firm’s fifty day simple moving average is $53.98 and its 200 day simple moving average is $56.53.

FOX (NASDAQ:FOX) last released its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a net margin of 10.56% and a return on equity of 18.90%. The firm had revenue of $3.99 billion during the quarter, compared to analyst estimates of $3.78 billion. On average, sell-side analysts anticipate that Fox Corporation will post 4.78 EPS for the current year.

Wall Street Analyst Weigh In

Several analysts have commented on FOX shares. Zacks Research downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Weiss Ratings raised shares of FOX from a “buy (b-)” rating to a “buy (b)” rating in a research note on Wednesday, June 24th. Finally, Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a report on Friday. One research analyst has rated the stock with a Strong Buy rating, four have issued a Buy rating, two have assigned a Hold rating and one has issued a Sell rating to the stock. Based on data from MarketBeat.com, the stock currently has a consensus rating of “Moderate Buy” and a consensus target price of $74.33.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Zacks added FOX to its Strong Buy list, signaling favorable earnings-estimate and momentum trends that may attract investors. New Strong Buy Stocks for July 13th
• Positive Sentiment: FOX also appeared on Zacks’ Strong Buy income stocks list, reinforcing the case that the stock may be undervalued for investors seeking earnings and yield appeal. Best Income Stocks to Buy for July 13th
• Neutral Sentiment: Fox News coverage was dominated by political and breaking-news content, including extensive reporting on Lindsey Graham’s death and Middle East developments. This reflects normal content activity at FOX’s media businesses, but the headlines themselves are not clear direct catalysts for the stock.
• Neutral Sentiment: One Zacks article specifically asked whether FOX is undervalued, which keeps attention on the company’s valuation but did not by itself provide a major new catalyst. Is Fox (FOX) Stock Undervalued Right Now?

FOX Company Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.