On December 31, 2024, BlackRock, Inc. (Trades, Portfolio) executed a notable transaction by acquiring an additional 11,874,909 shares of Fox Corp, thereby increasing its position by 96.77%. This strategic move brought BlackRock's total holdings in Fox Corp to 24,146,144 shares. The transaction was completed at a price of $45.74 per share, reflecting BlackRock's continued interest in the media giant. This acquisition represents 0.02% of BlackRock's extensive portfolio and accounts for 10.90% of the firm's total holdings in Fox Corp. Such a significant increase in shares indicates BlackRock's confidence in Fox Corp's potential within the media industry.
BlackRock, Inc. (Trades, Portfolio): A Leader in Investment Management
BlackRock, Inc. (Trades, Portfolio), headquartered at 50 Hudson Yards, New York, NY, is a leading investment management firm known for its diversified investment philosophy. The firm holds substantial positions in major technology companies, including Apple Inc (AAPL, Financial) and Amazon.com Inc (AMZN, Financial), among others. With a total equity of $4,761.16 trillion, BlackRock's investment strategy is characterized by a focus on technology and financial services sectors. The firm's top holdings reflect its commitment to investing in companies with strong growth potential and market leadership.
Fox Corp: A Media Industry Powerhouse
Fox Corp operates primarily in the media industry, focusing on cable networks and television. The company is known for its cable networks, including Fox News and Fox Business, as well as its television segment, which includes the Fox broadcast network and streaming platform Tubi. With a market capitalization of $23.04 billion, Fox Corp is considered significantly overvalued according to GuruFocus valuation metrics. The company's current stock price is $49.19, with a price-to-earnings ratio of 12.03. The GF Value of the stock is $37.41, indicating a price to GF Value ratio of 1.31, suggesting the stock is significantly overvalued.
Financial Metrics and Valuation of Fox Corp
Fox Corp's financial metrics reveal a mixed picture. The company has a GF Score of 80/100, indicating likely average performance. Over the past three years, Fox Corp has achieved a revenue growth of 10.30%, with a profitability rank of 8/10. Despite these positive indicators, the company's operating margin growth has declined by 3.80%. The Piotroski F-Score stands at 6, and the Altman Z score is 2.82, reflecting moderate financial strength.
Other Notable Holders of Fox Corp
In addition to BlackRock, other significant holders of Fox Corp shares include Dodge & Cox, which is the largest holder, as well as Yacktman Asset Management (Trades, Portfolio) and Yacktman Fund (Trades, Portfolio). These investment entities have recognized the potential value in Fox Corp, despite its current overvaluation status. Their continued investment suggests a belief in the company's long-term growth prospects and strategic positioning within the media industry.
Transaction Analysis and Impact
The recent acquisition by BlackRock, Inc. (Trades, Portfolio) highlights the firm's strategic interest in Fox Corp, despite the stock's current overvaluation. This transaction may influence the stock's market perception, potentially attracting more investors to consider Fox Corp as a viable investment opportunity. For BlackRock, the addition of Fox Corp shares represents a small fraction of its vast portfolio, yet it signifies a substantial commitment to the media sector. As Fox Corp continues to navigate the evolving media landscape, BlackRock's increased stake could play a pivotal role in shaping the company's future trajectory.
This article, generated by GuruFocus, is designed to provide general insights and is not tailored financial advice. Our commentary is rooted in historical data and analyst projections, utilizing an impartial methodology, and is not intended to serve as specific investment guidance. It does not formulate a recommendation to purchase or divest any stock and does not consider individual investment objectives or financial circumstances. Our objective is to deliver long-term, fundamental data-driven analysis. Be aware that our analysis might not incorporate the most recent, price-sensitive company announcements or qualitative information. GuruFocus holds no position in the stocks mentioned herein.
