Sumitomo Mitsui Trust Group Inc. Boosts Stake in Fox Corporation (NASDAQ:FOX)

Sumitomo Mitsui Trust Group Inc. increased its position in Fox Corporation (NASDAQ:FOX) by 11.0% during the first quarter, Holdings Channel.com reports. The institutional investor owned 370,959 shares of the company’s stock after purchasing an additional 36,724 shares during the period. Sumitomo Mitsui Trust Group Inc.’s holdings in FOX were worth $19,553,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Wealth Enhancement Advisory Services LLC purchased a new stake in FOX during the fourth quarter valued at approximately $201,000. Asset Management One Co. Ltd. raised its position in FOX by 5.1% during the first quarter. Asset Management One Co. Ltd. now owns 61,623 shares of the company’s stock valued at $3,248,000 after purchasing an additional 2,973 shares during the period. Ensign Peak Advisors Inc raised its position in FOX by 91.7% during the fourth quarter. Ensign Peak Advisors Inc now owns 39,427 shares of the company’s stock valued at $1,803,000 after purchasing an additional 18,865 shares during the period. CMC Financial Group purchased a new stake in FOX during the fourth quarter valued at approximately $243,000. Finally, Raymond James Financial Inc. purchased a new stake in FOX during the fourth quarter valued at approximately $1,295,000. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the company’s stock in a transaction that occurred on Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the transaction, the chief financial officer owned 133,923 shares of the company’s stock, valued at approximately $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Corporate insiders own 23.06% of the company’s stock.

FOX Trading Up 2.0%

Shares of FOX stock opened at $51.77 on Friday. Fox Corporation has a 1 year low of $32.02 and a 1 year high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.45 and a quick ratio of 2.33. The stock’s 50 day simple moving average is $49.72 and its two-hundred day simple moving average is $48.90. The company has a market cap of $23.28 billion, a PE ratio of 12.88, a price-to-earnings-growth ratio of 1.14 and a beta of 0.56.

FOX (NASDAQ:FOX) last released its earnings results on Monday, May 12th. The company reported $1.10 EPS for the quarter, beating analysts’ consensus estimates of $0.96 by $0.14. The firm had revenue of $4.37 billion for the quarter, compared to analysts’ expectations of $4.19 billion. FOX had a return on equity of 17.99% and a net margin of 11.58%. Research analysts predict that Fox Corporation will post 4.25 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.