Bank of New York Mellon Corp Has $121.39 Million Holdings in Fox Corporation $FOXA

Bank of New York Mellon Corp grew its holdings in Fox Corporation (NASDAQ:FOXA) by 0.9% in the 3rd quarter, according to its most recent disclosure with the Securities and Exchange Commission. The firm owned 1,924,975 shares of the company’s stock after acquiring an additional 16,757 shares during the quarter. Bank of New York Mellon Corp’s holdings in FOX were worth $121,389,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors and hedge funds have also bought and sold shares of the stock. CYBER HORNET ETFs LLC bought a new stake in FOX in the 2nd quarter valued at $35,000. Geneos Wealth Management Inc. raised its position in shares of FOX by 205.6% during the first quarter. Geneos Wealth Management Inc. now owns 923 shares of the company’s stock valued at $52,000 after buying an additional 621 shares during the last quarter. Root Financial Partners LLC bought a new stake in shares of FOX in the third quarter valued at about $60,000. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX during the third quarter worth about $75,000. Finally, EverSource Wealth Advisors LLC increased its stake in FOX by 286.4% during the second quarter. EverSource Wealth Advisors LLC now owns 1,368 shares of the company’s stock valued at $77,000 after acquiring an additional 1,014 shares during the period. Institutional investors own 52.52% of the company’s stock.

FOX Stock Up 1.3%

Shares of NASDAQ:FOXA opened at $72.78 on Friday. Fox Corporation has a 52 week low of $46.42 and a 52 week high of $76.39. The company has a debt-to-equity ratio of 0.54, a quick ratio of 3.03 and a current ratio of 3.24. The company’s fifty day moving average is $71.40 and its 200-day moving average is $63.90. The company has a market capitalization of $32.31 billion, a PE ratio of 16.36, a P/E/G ratio of 1.61 and a beta of 0.50.

FOX (NASDAQ:FOXA) last announced its earnings results on Thursday, October 30th. The company reported $1.51 earnings per share (EPS) 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 business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. During the same quarter last year, the company posted $1.45 EPS. The firm’s revenue for the quarter was up 4.9% on a year-over-year basis. Equities research analysts predict that Fox Corporation will post 4.38 earnings per share for the current fiscal year.

Analyst Upgrades and Downgrades

FOXA has been the topic of several recent research reports. Weiss Ratings reissued a “buy (b)” rating on shares of FOX in a report on Monday, December 29th. Zacks Research upgraded shares of FOX from a “hold” rating to a “strong-buy” rating in a research note on Monday, November 3rd. UBS Group set a $87.00 price objective on shares of FOX in a research note on Friday, December 19th. The Goldman Sachs Group lifted their target price on shares of FOX from $79.00 to $87.00 and gave the company a “buy” rating in a research report on Friday, December 19th. Finally, Citigroup upped their target price on shares of FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday, November 12th. One research analyst has rated the stock with a Strong Buy rating, nine have given a Buy rating and six have issued a Hold rating to the stock. According to MarketBeat, the company presently has a consensus rating of “Moderate Buy” and an average price target of $75.07.

Insiders Place Their Bets

In other news, 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 transaction of $5,926,000.00. Following the completion of the sale, the chairman 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 ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 29,897 shares of FOX stock in a transaction that occurred on Tuesday, December 9th. The shares were sold at an average price of $69.55, for a total transaction of $2,079,336.35. Following the completion of the transaction, the insider owned 35,978 shares of the company’s stock, valued at $2,502,269.90. This trade represents a 45.38% decrease in their position. The disclosure for this sale is available in the SEC filing. Over the last ninety days, insiders have sold 437,050 shares of company stock valued at $28,347,106. 19.68% of the stock is currently owned by insiders.

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.