Bank of New York Mellon Corp Sells 23,235 Shares of Fox Corporation $FOX

Bank of New York Mellon Corp lessened its stake in Fox Corporation (NASDAQ:FOX) by 3.5% in the first quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 643,580 shares of the company’s stock after selling 23,235 shares during the quarter. Bank of New York Mellon Corp owned about 0.15% of FOX worth $34,174,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the stock. Brown Brothers Harriman & Co. increased its stake in shares of FOX by 336.9% in the 3rd quarter. Brown Brothers Harriman & Co. now owns 616 shares of the company’s stock valued at $35,000 after acquiring an additional 475 shares during the last quarter. FNY Investment Advisers LLC acquired a new position in shares of FOX in the 4th quarter valued at $83,000. Geneos Wealth Management Inc. increased its position in shares of FOX by 95.1% in the 1st quarter. Geneos Wealth Management Inc. now owns 1,442 shares of the company’s stock valued at $76,000 after buying an additional 703 shares in the last quarter. EverSource Wealth Advisors LLC increased its position in shares of FOX by 130.2% in the 2nd quarter. EverSource Wealth Advisors LLC now owns 2,300 shares of the company’s stock valued at $119,000 after buying an additional 1,301 shares in the last quarter. Finally, Covestor Ltd raised its stake in FOX by 139.1% during the 4th quarter. Covestor Ltd now owns 2,955 shares of the company’s stock worth $192,000 after buying an additional 1,719 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX News Roundup

Here are the key news stories impacting FOX this week:

• Positive Sentiment: Fox News continued to generate attention with high-traffic coverage of major political, international, and U.S. crime stories, including Iran, Trump, and antisemitic violence-related reporting, which can help support viewer engagement and advertising demand. Fox News coverage
• Neutral Sentiment: FOX was cited in a short-interest update, but the data showed 0 shares of short interest and a 0.0 days-to-cover ratio, so the report does not provide a meaningful new trading signal.
• Neutral Sentiment: Additional Fox News articles covered developments such as a CDC investigation into Ohio cyclosporiasis cases, a controversy involving an Oklahoma state agency attorney, and other local and national news items, reinforcing the network’s broad news flow but without a clear direct impact on FOX’s fundamentals.

FOX Price Performance

FOX stock opened at $49.41 on Monday. The company has a debt-to-equity ratio of 0.60, a current ratio of 2.90 and a quick ratio of 2.65. The stock has a market capitalization of $20.76 billion, a P/E ratio of 13.04, a P/E/G ratio of 1.41 and a beta of 0.57. Fox Corporation has a fifty-two week low of $44.08 and a fifty-two week high of $68.18. The business has a 50-day moving average of $52.64 and a 200-day moving average of $55.58.

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

Wall Street Analysts Forecast Growth

Several research firms have weighed in on FOX. Weiss Ratings lowered FOX from a “buy (b)” rating to a “buy (b-)” rating in a report on Monday, July 20th. Citigroup restated a “buy” rating on shares of FOX in a report on Friday, July 17th. Zacks Research cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Wednesday, July 1st. Finally, Rothschild & Co Redburn set a $71.00 price objective on shares of FOX in a research report on Friday, July 10th. One equities research analyst has rated the stock with a Strong Buy rating, five have issued a Buy rating, two have assigned a Hold rating and one has given a Sell rating to the stock. According to MarketBeat.com, FOX has a consensus rating of “Moderate Buy” and a consensus price target of $74.33.

FOX Company 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.