M&T Bank Corp Has $620,000 Position in Fox Co. (NASDAQ:FOXA)

M&T Bank Corp lifted its holdings in Fox Co. (NASDAQ:FOXA) by 7.4% in the 3rd quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The institutional investor owned 14,645 shares of the company’s stock after acquiring an additional 1,010 shares during the period. M&T Bank Corp’s holdings in FOX were worth $620,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the business. Crossmark Global Holdings Inc. grew 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 worth $991,000 after purchasing an additional 385 shares during the period. Raymond James Trust N.A. grew its stake in shares of FOX by 4.4% in the 2nd quarter. Raymond James Trust N.A. now owns 9,691 shares of the company’s stock valued at $333,000 after buying an additional 406 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its position in FOX by 1.6% in the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after buying an additional 451 shares in the last quarter. Verdence Capital Advisors LLC raised its stake in FOX by 3.5% during the 2nd quarter. Verdence Capital Advisors LLC now owns 13,403 shares of the company’s stock worth $461,000 after buying an additional 458 shares during the period. Finally, US Bancorp DE boosted its holdings in FOX by 4.0% in the third quarter. US Bancorp DE now owns 14,239 shares of the company’s stock worth $603,000 after acquiring an additional 550 shares in the last quarter. 52.52% of the stock is owned by institutional investors and hedge funds.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of research reports. Morgan Stanley upped their target price on FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research report on Friday, November 1st. Wells Fargo & Company upped their price objective on shares of FOX from $46.00 to $49.00 and gave the stock an “overweight” rating in a report on Tuesday, November 5th. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th. TD Cowen boosted their target price on shares of FOX from $36.00 to $42.00 and gave the stock a “hold” rating in a research report on Tuesday, November 5th. Finally, UBS Group raised their price target on shares of FOX from $44.00 to $50.00 and gave the company a “buy” rating in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat, the company presently has a consensus rating of “Hold” and an average target price of $44.00.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the firm’s stock in a transaction dated 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 transaction, the chairman now owns 1,258,862 shares in the company, valued at $52,935,147.10. This trade represents a 7.36 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, COO John Nallen sold 182,481 shares of the business’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $10,907,311.52. This represents a 42.25 % decrease in their position. The disclosure for this sale can be found here. In the last three months, insiders have sold 469,352 shares of company stock worth $20,822,072. Company insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $49.07 on Wednesday. The company has a market capitalization of $22.41 billion, a PE ratio of 12.00, a price-to-earnings-growth ratio of 1.18 and a beta of 0.77. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. Fox Co. has a 52-week low of $28.28 and a 52-week high of $49.30. The company has a 50-day simple moving average of $44.68 and a 200 day simple moving average of $40.33.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Monday, November 4th. The company reported $1.45 earnings per share (EPS) for the quarter, topping the consensus estimate of $1.12 by $0.33. FOX had a net margin of 13.40% and a return on equity of 16.49%. The company had revenue of $3.56 billion during the quarter, compared to analyst estimates of $3.38 billion. During the same quarter last year, the business posted $1.09 EPS. FOX’s quarterly revenue was up 11.1% compared to the same quarter last year. On average, research analysts predict that Fox Co. will post 3.94 EPS 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.