Sumitomo Mitsui Trust Group Inc. Sells 46,522 Shares of Fox Co. (NASDAQ:FOXA)

Sumitomo Mitsui Trust Group Inc. cut its stake in shares of Fox Co. (NASDAQ:FOXA) by 7.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 569,808 shares of the company’s stock after selling 46,522 shares during the period. Sumitomo Mitsui Trust Group Inc. owned 0.12% of FOX worth $27,681,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently modified their holdings of FOXA. Pacer Advisors Inc. increased its holdings in FOX by 5.4% during the 4th quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after acquiring an additional 425,186 shares during the period. KBC Group NV increased its holdings in shares of FOX by 56.1% in the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock worth $115,022,000 after purchasing an additional 851,127 shares during the period. Jacobs Levy Equity Management Inc. raised its position in shares of FOX by 228.4% in the third quarter. Jacobs Levy Equity Management Inc. now owns 1,387,107 shares of the company’s stock worth $58,716,000 after buying an additional 964,737 shares in the last quarter. Robeco Institutional Asset Management B.V. boosted its stake in FOX by 308.5% during the fourth quarter. Robeco Institutional Asset Management B.V. now owns 1,218,070 shares of the company’s stock valued at $59,174,000 after buying an additional 919,883 shares during the period. Finally, JPMorgan Chase & Co. grew its position in FOX by 10.9% during the third quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock worth $47,649,000 after buying an additional 110,753 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business’s stock in a transaction on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

Several research firms have weighed in on FOXA. UBS Group raised their price target on FOX from $44.00 to $50.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. The Goldman Sachs Group raised their target price on shares of FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Deutsche Bank Aktiengesellschaft boosted their price target on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Wells Fargo & Company lifted their price objective on shares of FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a report on Wednesday, February 5th. Finally, Barclays increased their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research note on Wednesday, February 5th. One equities research analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the stock. Based on data from MarketBeat, FOX currently has a consensus rating of “Hold” and an average target price of $50.19.

FOX Stock Performance

Shares of FOXA stock opened at $53.39 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $55.56. The company has a market capitalization of $24.39 billion, a P/E ratio of 11.43, a PEG ratio of 1.17 and a beta of 0.76. The stock has a 50 day moving average price of $49.16 and a two-hundred day moving average price of $44.41.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm’s revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. Analysts expect that Fox Co. will post 4.38 earnings per share for the current year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio is presently 11.56%.

FOX 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.