Sumitomo Mitsui Trust Holdings Inc. Invests $18.68 Million in Fox Corp (NASDAQ:FOX)

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Sumitomo Mitsui Trust Holdings Inc. bought a new position in Fox Corp (NASDAQ:FOX) during the third quarter, Holdings Channel reports. The fund bought 592,263 shares of the company’s stock, valued at approximately $18,680,000.

Several other large investors have also added to or reduced their stakes in the company. Truvestments Capital LLC purchased a new stake in shares of FOX in the 3rd quarter worth about $42,000. Hall Laurie J Trustee bought a new position in FOX in the 3rd quarter worth about $57,000. Quest Capital Management Inc. ADV bought a new position in FOX in the 3rd quarter worth about $57,000. Livforsakringsbolaget Skandia Omsesidigt bought a new position in FOX in the 3rd quarter worth about $63,000. Finally, Municipal Employees Retirement System of Michigan bought a new position in FOX in the 3rd quarter worth about $69,000. 23.58% of the stock is currently owned by hedge funds and other institutional investors.

FOX has been the topic of a number of analyst reports. Zacks Investment Research cut shares of FOX from a “hold” rating to a “sell” rating in a research note on Wednesday, August 21st. Wells Fargo & Co reiterated an “underperform” rating and issued a $32.00 price target (up previously from $30.00) on shares of FOX in a research note on Thursday. Finally, BidaskClub upgraded shares of FOX from a “sell” rating to a “hold” rating in a research note on Friday. Three analysts have rated the stock with a sell rating, two have issued a hold rating and one has given a buy rating to the company. FOX presently has a consensus rating of “Hold” and a consensus price target of $40.00.

In other news, Chairman Keith Rupert Murdoch bought 500,000 shares of FOX stock in a transaction that occurred on Wednesday, August 28th. The stock was bought at an average cost of $32.06 per share, with a total value of $16,030,000.00. Following the acquisition, the chairman now owns 805,714 shares of the company’s stock, valued at approximately $25,831,190.84. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Director Roland A. Hernandez bought 3,000 shares of FOX stock in a transaction that occurred on Monday, August 12th. The stock was purchased at an average cost of $34.91 per share, with a total value of $104,730.00. The disclosure for this purchase can be found here. Corporate insiders own 17.47% of the company’s stock.

Shares of FOX stock opened at $34.43 on Friday. The firm’s 50-day moving average is $31.56 and its 200 day moving average is $34.53. Fox Corp has a 1 year low of $29.61 and a 1 year high of $41.73. The company has a current ratio of 3.78, a quick ratio of 3.12 and a debt-to-equity ratio of 0.68.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Wednesday, August 7th. The company reported $0.62 earnings per share for the quarter. The business had revenue of $2.51 billion during the quarter.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business news, and sports content for distribution primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

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Want to see what other hedge funds are holding FOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corp (NASDAQ:FOX).

Institutional Ownership by Quarter for FOX (NASDAQ:FOX)

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