Fox Run Management L.L.C. Cuts Position in The Bank of New York Mellon Corporation $BK

Fox Run Management L.L.C. decreased its stake in The Bank of New York Mellon Corporation (NYSE:BK) by 55.2% in the 3rd quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 9,712 shares of the bank’s stock after selling 11,969 shares during the period. Fox Run Management L.L.C.’s holdings in Bank of New York Mellon were worth $1,058,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Westside Investment Management Inc. increased its stake in Bank of New York Mellon by 78.9% in the 2nd quarter. Westside Investment Management Inc. now owns 288 shares of the bank’s stock valued at $26,000 after purchasing an additional 127 shares in the last quarter. Valley Wealth Managers Inc. purchased a new position in shares of Bank of New York Mellon in the third quarter valued at $33,000. Caldwell Trust Co purchased a new position in shares of Bank of New York Mellon in the second quarter valued at $36,000. Quaker Wealth Management LLC raised its stake in shares of Bank of New York Mellon by 198.9% during the 2nd quarter. Quaker Wealth Management LLC now owns 450 shares of the bank’s stock worth $41,000 after buying an additional 905 shares during the last quarter. Finally, Cornerstone Planning Group LLC boosted its position in shares of Bank of New York Mellon by 73.2% in the 3rd quarter. Cornerstone Planning Group LLC now owns 511 shares of the bank’s stock worth $55,000 after buying an additional 216 shares in the last quarter. 85.31% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

Several research firms have weighed in on BK. Truist Financial upgraded shares of Bank of New York Mellon from a “hold” rating to a “buy” rating and raised their target price for the company from $119.00 to $134.00 in a report on Wednesday, January 7th. New Street Research set a $143.00 price objective on shares of Bank of New York Mellon in a research note on Wednesday, January 14th. Weiss Ratings downgraded Bank of New York Mellon from a “buy (a-)” rating to a “buy (b+)” rating in a research report on Friday, February 13th. Morgan Stanley increased their target price on Bank of New York Mellon from $124.00 to $132.00 and gave the company an “overweight” rating in a report on Wednesday, January 14th. Finally, Barclays boosted their price target on Bank of New York Mellon from $120.00 to $143.00 and gave the stock an “overweight” rating in a report on Monday, January 5th. Eight equities research analysts have rated the stock with a Buy rating and four have assigned a Hold rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Moderate Buy” and a consensus target price of $131.92.

Bank of New York Mellon Stock Up 3.2%

BK stock opened at $120.26 on Thursday. The company has a 50 day moving average price of $119.48 and a two-hundred day moving average price of $111.96. The company has a debt-to-equity ratio of 0.81, a quick ratio of 0.70 and a current ratio of 0.71. The stock has a market capitalization of $83.86 billion, a P/E ratio of 16.23, a PEG ratio of 1.09 and a beta of 1.10. The Bank of New York Mellon Corporation has a one year low of $70.46 and a one year high of $128.76.

Bank of New York Mellon (NYSE:BK) last issued its quarterly earnings results on Friday, October 31st. The bank reported $1.91 earnings per share for the quarter. The company had revenue of $5.07 billion for the quarter. Bank of New York Mellon had a return on equity of 14.37% and a net margin of 13.62%. As a group, sell-side analysts expect that The Bank of New York Mellon Corporation will post 6.96 EPS for the current year.

Bank of New York Mellon Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Thursday, February 5th. Shareholders of record on Friday, January 23rd were paid a $0.53 dividend. This represents a $2.12 dividend on an annualized basis and a yield of 1.8%. The ex-dividend date of this dividend was Friday, January 23rd. Bank of New York Mellon’s dividend payout ratio (DPR) is presently 28.61%.

Bank of New York Mellon Profile

Bank of New York Mellon Corporation (BNY Mellon) is a global financial services company headquartered in New York City that provides a wide range of asset servicing, custody, and related financial infrastructure solutions to institutional clients. Its core businesses include custody and asset servicing, clearing and collateral management, treasury services, securities lending, corporate trust services, and depositary receipt administration. The company also offers investment management and advisory services through its asset management arm and provides technology-enabled solutions for trade processing, foreign exchange, and liquidity management.

BNY Mellon serves a broad client base that includes asset managers, pension funds, corporations, banks, broker-dealers and sovereign entities.