Mitsubishi UFJ Trust & Banking Corp Reduces Position in Fox Corporation $FOXA

Mitsubishi UFJ Trust & Banking Corp trimmed its position in Fox Corporation (NASDAQ:FOXA) by 8.3% during the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 267,191 shares of the company’s stock after selling 24,153 shares during the quarter. Mitsubishi UFJ Trust & Banking Corp owned 0.06% of FOX worth $16,849,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Ameriprise Financial Inc. grew its holdings in 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 acquiring an additional 762,645 shares during the last quarter. CSM Advisors LLC bought a new position in shares of FOX during the second quarter valued at about $25,787,000. Lazard Asset Management LLC boosted its holdings in shares of FOX by 624.5% during the second quarter. Lazard Asset Management LLC now owns 281,126 shares of the company’s stock worth $15,753,000 after purchasing an additional 242,321 shares during the period. Marshall Wace LLP grew its stake in shares of FOX by 415.7% in the second quarter. Marshall Wace LLP now owns 230,570 shares of the company’s stock worth $12,921,000 after purchasing an additional 185,859 shares during the last quarter. Finally, Andra AP fonden increased its holdings in FOX by 19.2% during the 2nd quarter. Andra AP fonden now owns 920,800 shares of the company’s stock valued at $51,602,000 after purchasing an additional 148,400 shares during the period. 52.52% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FOX

In related news, Director Paul D. Ryan sold 17,767 shares of the company’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 filing with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction that occurred on Friday, November 21st. The shares were sold at an average price of $59.26, for a total value of $5,926,000.00. Following the transaction, the chairman directly owned 1,100,862 shares of the company’s stock, valued at approximately $65,237,082.12. This trade represents a 8.33% decrease in their position. The disclosure for this sale is available in the SEC filing. Insiders have sold a total of 454,817 shares of company stock worth $29,490,590 in the last ninety days. 19.68% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Several equities research analysts have weighed in on FOXA shares. Bank of America increased their price objective on FOX from $75.00 to $80.00 and gave the stock a “buy” rating in a report on Friday, December 19th. The Goldman Sachs Group raised their price target on FOX from $79.00 to $87.00 and gave the stock a “buy” rating in a research note on Friday, December 19th. Arete Research upgraded shares of FOX from a “neutral” rating to a “buy” rating and set a $97.00 price target on the stock in a report on Tuesday, October 28th. Citigroup upped their price objective on shares of FOX from $68.00 to $77.00 and gave the stock a “buy” rating in a report on Wednesday, November 12th. Finally, Guggenheim raised their target price on shares of FOX from $75.00 to $85.00 and gave the stock a “buy” rating in a research report on Monday, December 22nd. One equities research analyst has rated the stock with a Strong Buy rating, nine have issued a Buy rating and six have assigned a Hold rating to the company. According to MarketBeat, FOX has an average rating of “Moderate Buy” and a consensus target price of $75.07.

FOX Stock Performance

Shares of FOX stock opened at $71.97 on Wednesday. Fox Corporation has a 12 month low of $46.42 and a 12 month high of $76.39. The firm has a market capitalization of $31.95 billion, a P/E ratio of 16.17, a P/E/G ratio of 1.63 and a beta of 0.50. The company has a current ratio of 3.24, a quick ratio of 3.03 and a debt-to-equity ratio of 0.54. The business has a fifty day simple moving average of $71.00 and a two-hundred day simple moving average of $63.61.

FOX (NASDAQ:FOXA) last released its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, topping 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 firm had revenue of $3.74 billion for the quarter, compared to the consensus estimate of $3.57 billion. During the same period in the prior year, the firm earned $1.45 EPS. The company’s revenue was up 4.9% compared to the same quarter last year. On average, equities analysts forecast that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

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.