Sumitomo Mitsui Trust Group Inc. Sells 21,522 Shares of Fox Co. (NASDAQ:FOXA)

Sumitomo Mitsui Trust Group Inc. lowered its holdings in shares of Fox Co. (NASDAQ:FOXA) by 3.4% during the 3rd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 616,330 shares of the company’s stock after selling 21,522 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $26,089,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also bought and sold shares of the company. OVERSEA CHINESE BANKING Corp Ltd raised its position in FOX by 69.6% in the 3rd quarter. OVERSEA CHINESE BANKING Corp Ltd now owns 16,674 shares of the company’s stock worth $706,000 after buying an additional 6,843 shares during the last quarter. GSA Capital Partners LLP purchased a new position in shares of FOX in the 3rd quarter worth $620,000. Entropy Technologies LP purchased a new stake in FOX during the third quarter valued at $546,000. Crossmark Global Holdings Inc. lifted its holdings in FOX by 1.7% in the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after acquiring an additional 385 shares during the period. Finally, Principal Financial Group Inc. grew its stake in shares of FOX by 0.4% during the 3rd quarter. Principal Financial Group Inc. now owns 291,051 shares of the company’s stock valued at $12,320,000 after purchasing an additional 1,178 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 100,000 shares of the stock in a transaction that occurred on Wednesday, November 6th. The stock was sold at an average price of $42.05, for a total value of $4,205,000.00. Following the completion of the sale, the chairman now owns 1,258,862 shares of the company’s stock, valued at approximately $52,935,147.10. This trade represents a 7.36 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction on Tuesday, November 5th. The stock was sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $10,907,311.52. This trade represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

FOX Price Performance

NASDAQ:FOXA opened at $45.64 on Friday. The firm has a market cap of $21.00 billion, a P/E ratio of 11.16, a price-to-earnings-growth ratio of 1.20 and a beta of 0.76. The stock has a 50 day moving average of $42.23 and a two-hundred day moving average of $38.14. Fox Co. has a 12 month low of $28.28 and a 12 month high of $47.58. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Monday, November 4th. The company reported $1.45 EPS for the quarter, beating the consensus estimate of $1.12 by $0.33. FOX had a return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $3.56 billion during the quarter, compared to the consensus estimate of $3.38 billion. During the same period in the prior year, the company earned $1.09 EPS. The firm’s revenue was up 11.1% compared to the same quarter last year. On average, analysts expect that Fox Co. will post 3.94 earnings per share for the current fiscal year.

Analysts Set New Price Targets

A number of equities research analysts have commented on the stock. Barclays raised their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research note on Wednesday, October 9th. Rosenblatt Securities raised their price target on FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a report on Wednesday, August 7th. Bank of America increased their price target on shares of FOX from $45.00 to $50.00 and gave the company a “buy” rating in a report on Wednesday, September 25th. Deutsche Bank Aktiengesellschaft boosted their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. Finally, The Goldman Sachs Group increased their price target on FOX from $46.00 to $51.00 and gave the stock a “buy” rating in a report on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and nine have given a buy rating to the company. According to data from MarketBeat, FOX currently has an average rating of “Hold” and a consensus target price of $44.00.

About FOX

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.