Sumitomo Mitsui Trust Group Inc. Has $30.16 Million Stake in Fox Corporation $FOXA

Sumitomo Mitsui Trust Group Inc. trimmed its position in Fox Corporation (NASDAQ:FOXA) by 9.7% during the first quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 516,456 shares of the company’s stock after selling 55,689 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $30,161,000 at the end of the most recent quarter.

Other institutional investors and hedge funds also recently modified their holdings of the company. SG Americas Securities LLC raised its position in FOX by 346.6% in the 4th quarter. SG Americas Securities LLC now owns 128,029 shares of the company’s stock valued at $9,355,000 after buying an additional 99,363 shares during the last quarter. Handelsbanken Fonder AB boosted its position in FOX by 85.3% during the 4th quarter. Handelsbanken Fonder AB now owns 88,009 shares of the company’s stock worth $6,431,000 after acquiring an additional 40,515 shares during the last quarter. Geode Capital Management LLC boosted its position 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 last quarter. Strs Ohio grew its stake in shares of FOX by 7.6% during the 4th quarter. Strs Ohio now owns 332,444 shares of the company’s stock worth $24,292,000 after acquiring an additional 23,475 shares in the last quarter. Finally, PFA Pension Forsikringsaktieselskab bought a new position in shares of FOX during the 4th quarter worth approximately $67,467,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 3.3%

Shares of FOXA stock opened at $55.90 on Tuesday. The company has a debt-to-equity ratio of 0.60, a quick ratio of 2.65 and a current ratio of 2.90. The firm’s 50-day moving average is $60.04 and its 200-day moving average is $62.75. The stock has a market cap of $23.49 billion, a price-to-earnings ratio of 14.75, a PEG ratio of 1.54 and a beta of 0.54. Fox Corporation has a 52-week low of $48.34 and a 52-week high of $76.39.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Monday, May 11th. The company reported $1.32 EPS for the quarter, topping analysts’ consensus estimates of $1.02 by $0.30. FOX had a return on equity of 18.90% and a net margin of 10.56%.The business had revenue of $3.99 billion during the quarter, compared to analysts’ expectations of $3.78 billion. During the same quarter last year, the company posted $1.10 earnings per share. FOX’s quarterly revenue was down 8.6% on a year-over-year basis. Sell-side analysts predict that Fox Corporation will post 4.93 EPS for the current year.

Wall Street Analyst Weigh In

A number of analysts have recently commented on FOXA shares. Barclays cut their price objective 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. Evercore set a $73.00 target price on shares of FOX in a research report on Tuesday, May 12th. Weiss Ratings reiterated a “buy (b-)” rating on shares of FOX in a research note on Friday, May 22nd. Rothschild & Co Redburn set a $71.00 price target on shares of FOX and gave the stock a “buy” rating in a research report on Friday. Finally, Seaport Research Partners reaffirmed a “buy” rating and issued a $61.00 target price on shares of FOX in a research report on Tuesday, June 16th. One analyst has rated the stock with a Strong Buy rating, eight have given a Buy rating, eight have given a Hold rating and one has given a Sell rating to the company’s stock. According to MarketBeat, the stock has a consensus rating of “Moderate Buy” and a consensus target price of $73.56.

FOX Profile

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.