Fox Corporation $FOXA Shares Sold by Mitsubishi UFJ Trust & Banking Corp

Mitsubishi UFJ Trust & Banking Corp lowered its stake in shares of Fox Corporation (NASDAQ:FOXA) by 31.3% in the second quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 291,344 shares of the company’s stock after selling 132,488 shares during the period. Mitsubishi UFJ Trust & Banking Corp owned about 0.06% of FOX worth $16,327,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also recently bought and sold shares of the company. Allworth Financial LP increased its stake in FOX by 55.2% during the 1st quarter. Allworth Financial LP now owns 787 shares of the company’s stock worth $45,000 after buying an additional 280 shares in the last quarter. Hemington Wealth Management boosted its stake in shares of FOX by 217.6% in the first quarter. Hemington Wealth Management now owns 524 shares of the company’s stock worth $29,000 after acquiring an additional 359 shares during the last quarter. Amalgamated Bank increased its position in shares of FOX by 0.9% during the second quarter. Amalgamated Bank now owns 42,700 shares of the company’s stock worth $2,393,000 after purchasing an additional 360 shares in the last quarter. Hartford Investment Management Co. increased its position in shares of FOX by 2.9% during the second quarter. Hartford Investment Management Co. now owns 13,681 shares of the company’s stock worth $767,000 after purchasing an additional 388 shares in the last quarter. Finally, TCTC Holdings LLC raised its stake in FOX by 112.5% in the 1st quarter. TCTC Holdings LLC now owns 797 shares of the company’s stock valued at $45,000 after purchasing an additional 422 shares during the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

Several equities research analysts have issued reports on the stock. Guggenheim lifted their target price on shares of FOX from $62.00 to $68.00 and gave the stock a “buy” rating in a research note on Friday, September 26th. Evercore ISI raised their price target on shares of FOX from $55.00 to $66.00 and gave the stock an “in-line” rating in a research note on Friday, October 31st. Citigroup upped their price objective on shares of FOX from $68.00 to $77.00 and gave the company a “buy” rating in a research note on Wednesday. Cowen reissued a “hold” rating on shares of FOX in a research note on Friday, October 31st. Finally, Wells Fargo & Company boosted their target price on FOX from $70.00 to $80.00 and gave the stock an “overweight” rating in a report on Friday, October 31st. Two equities research analysts have rated the stock with a Strong Buy rating, nine have issued a Buy rating and eight have issued a Hold rating to the company’s stock. According to data from MarketBeat.com, FOX has a consensus rating of “Moderate Buy” and a consensus price target of $70.50.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 168,756 shares of the stock in a transaction that occurred on Friday, November 7th. The stock was sold at an average price of $65.97, for a total value of $11,132,833.32. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, CFO Steven Tomsic sold 138,397 shares of FOX stock in a transaction on Monday, November 10th. The shares were sold at an average price of $66.54, for a total value of $9,208,936.38. Following the completion of the sale, the chief financial officer owned 180,556 shares in the company, valued at $12,014,196.24. This represents a 43.39% decrease in their position. Additional details regarding this sale are available in the official SEC disclosure. Over the last three months, insiders sold 324,920 shares of company stock worth $21,485,254. Company insiders own 19.68% of the company’s stock.

FOX Price Performance

Shares of FOXA stock opened at $64.84 on Friday. The company has a debt-to-equity ratio of 0.54, a current ratio of 3.24 and a quick ratio of 3.03. The company has a market capitalization of $28.79 billion, a PE ratio of 14.57, a price-to-earnings-growth ratio of 1.45 and a beta of 0.52. The firm’s 50-day moving average is $61.16 and its two-hundred day moving average is $57.59. Fox Corporation has a 12 month low of $44.82 and a 12 month high of $67.22.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Thursday, October 30th. The company reported $1.51 earnings per share for the quarter, beating the consensus estimate of $1.10 by $0.41. The business had revenue of $3.74 billion during the quarter, compared to analysts’ expectations of $3.57 billion. FOX had a net margin of 12.35% and a return on equity of 18.61%. The business’s revenue for the quarter was up 4.9% on a year-over-year basis. During the same quarter in the prior year, the company posted $1.45 EPS. Analysts predict that Fox Corporation will post 4.38 earnings per share for the current year.

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.