Fox Corporation $FOX Shares Sold by Sumitomo Mitsui Trust Group Inc.

Sumitomo Mitsui Trust Group Inc. trimmed its holdings in Fox Corporation (NASDAQ:FOX) by 6.6% in the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission. The fund owned 345,547 shares of the company’s stock after selling 24,376 shares during the quarter. Sumitomo Mitsui Trust Group Inc. owned 0.08% of FOX worth $18,349,000 as of its most recent filing with the Securities and Exchange Commission.

Several other large investors also recently made changes to their positions in the business. New York State Teachers Retirement System boosted its holdings in FOX by 3.2% during the first quarter. New York State Teachers Retirement System now owns 179,681 shares of the company’s stock worth $9,541,000 after buying an additional 5,504 shares in the last quarter. BI Asset Management Fondsmaeglerselskab A S bought a new position in shares of FOX in the first quarter valued at $9,328,000. Fuller & Thaler Asset Management Inc. lifted its position in shares of FOX by 7.8% during the 4th quarter. Fuller & Thaler Asset Management Inc. now owns 27,835 shares of the company’s stock valued at $1,807,000 after acquiring an additional 2,010 shares during the last quarter. Advisory Services Network LLC boosted its stake in shares of FOX by 964.5% during the 4th quarter. Advisory Services Network LLC now owns 4,471 shares of the company’s stock worth $290,000 after acquiring an additional 4,051 shares in the last quarter. Finally, California State Teachers Retirement System boosted its stake in shares of FOX by 4.3% during the 4th quarter. California State Teachers Retirement System now owns 182,689 shares of the company’s stock worth $11,862,000 after acquiring an additional 7,515 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Key Stories Impacting FOX

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Zacks added FOX to its Strong Buy list, signaling favorable earnings-estimate and momentum trends that may attract investors. New Strong Buy Stocks for July 13th
• Positive Sentiment: FOX also appeared on Zacks’ Strong Buy income stocks list, reinforcing the case that the stock may be undervalued for investors seeking earnings and yield appeal. Best Income Stocks to Buy for July 13th
• Neutral Sentiment: Fox News coverage was dominated by political and breaking-news content, including extensive reporting on Lindsey Graham’s death and Middle East developments. This reflects normal content activity at FOX’s media businesses, but the headlines themselves are not clear direct catalysts for the stock.
• Neutral Sentiment: One Zacks article specifically asked whether FOX is undervalued, which keeps attention on the company’s valuation but did not by itself provide a major new catalyst. Is Fox (FOX) Stock Undervalued Right Now?

Wall Street Analysts Forecast Growth

FOX has been the topic of a number of recent analyst reports. Weiss Ratings raised FOX from a “buy (b-)” rating to a “buy (b)” rating in a research report on Wednesday, June 24th. Zacks Research lowered FOX from a “strong-buy” rating to a “hold” rating in a research report on Wednesday, July 1st. Finally, Rothschild & Co Redburn set a $71.00 price target on FOX in a research note on Friday. One research analyst has rated the stock with a Strong Buy rating, four have assigned a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the company. According to data from MarketBeat, the stock currently has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

FOX Trading Up 3.0%

Shares of NASDAQ FOX opened at $50.22 on Tuesday. Fox Corporation has a one year low of $44.08 and a one year high of $68.18. The firm has a market capitalization of $21.10 billion, a PE ratio of 13.25, a PEG ratio of 1.39 and a beta of 0.57. The company has a current ratio of 2.90, a quick ratio of 2.65 and a debt-to-equity ratio of 0.60. The business has a 50-day moving average price of $53.98 and a two-hundred day moving average price of $56.53.

FOX (NASDAQ:FOX) last issued its earnings results on Monday, May 11th. The company reported $1.32 earnings per share for the quarter, beating analysts’ consensus estimates of $1.02 by $0.30. The company had revenue of $3.99 billion for the quarter, compared to the consensus estimate of $3.78 billion. FOX had a return on equity of 18.90% and a net margin of 10.56%. As a group, analysts predict that Fox Corporation will post 4.78 earnings per share for the current fiscal year.

FOX Profile

Fox Corporation (NASDAQ:FOX) is a U.S.-based media company that operates television broadcast, news and sports businesses. The company traces its contemporary structure to the 2019 reorganization that followed the sale of certain entertainment assets to The Walt Disney Company; Fox Corporation retained a portfolio centered on the Fox Broadcasting Company, Fox Television Stations, Fox News Media and Fox Sports. Over time the company has expanded its digital footprint through acquisitions and direct-to-consumer services, building a mix of linear and streaming distribution.

FOX’s core activities include the creation, aggregation and distribution of television programming and live sports, the operation of national cable news and business networks, and the ownership and operation of local broadcast stations.