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

Sumitomo Mitsui Trust Group Inc. lessened its holdings in shares of Fox Co. (NASDAQ:FOXA) by 7.5% during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 569,808 shares of the company’s stock after selling 46,522 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $27,681,000 as of its most recent SEC filing.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the fourth quarter worth about $28,000. Brooklyn Investment Group boosted its position in shares of FOX by 142.5% in the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares in the last quarter. Quest Partners LLC purchased a new stake in shares of FOX in the 3rd quarter worth approximately $51,000. Quarry LP bought a new position in FOX during the 3rd quarter valued at approximately $70,000. Finally, Versant Capital Management Inc increased its position in FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after buying an additional 1,669 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of research firms have recently commented on FOXA. UBS Group increased their target price on FOX from $44.00 to $50.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. Morgan Stanley raised their price objective on shares of FOX from $38.00 to $40.00 and gave the company an “equal weight” rating in a research note on Friday, November 1st. Guggenheim upped their target price on shares of FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research note on Wednesday, February 5th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and raised their price target for the company from $51.00 to $52.00 in a research report on Tuesday, January 21st. Finally, Evercore ISI raised FOX to a “hold” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company’s stock. Based on data from MarketBeat.com, the stock presently has an average rating of “Hold” and a consensus price target of $50.19.

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was 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.

FOX Price Performance

NASDAQ FOXA opened at $53.39 on Wednesday. The company has a 50-day moving average price of $49.16 and a 200-day moving average price of $44.41. Fox Co. has a 52 week low of $28.28 and a 52 week high of $55.56. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm 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.

FOX (NASDAQ:FOXA) last announced its 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 business had revenue of $5.08 billion during the quarter, compared to analysts’ expectations 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% on a year-over-year basis. During the same period in the prior year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Fox Co. will post 4.38 earnings per share for the current year.

FOX Dividend Announcement

The business also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a yield of 1%. FOX’s dividend payout ratio (DPR) 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.