BlackRock Maintains 10.9% Stake in Fox Corp Class A Stock
Ticker: FOX · Form: SC 13G/A · Filed: Jan 23, 2024 · CIK: 1754301
| Field | Detail |
|---|---|
| Company | Fox CORP (FOX) |
| Form Type | SC 13G/A |
| Filed Date | Jan 23, 2024 |
| Risk Level | low |
| Sentiment | bullish |
Complexity: simple
Sentiment: bullish
Topics: institutional-ownership, amendment, passive-investing
TL;DR
**BlackRock still owns 10.9% of Fox Corp Class A shares, showing strong institutional backing.**
AI Summary
BlackRock Inc. filed an amended SC 13G/A on January 23, 2024, disclosing its ownership of Fox Corp Class A Common Stock as of December 31, 2023. This filing indicates BlackRock beneficially owns 27,279,842 shares, representing 10.9% of the Class A Common Stock. This matters to investors because BlackRock, a major institutional investor, maintains a significant stake in Fox Corp, signaling continued confidence in the company's future, which could influence other investors' perceptions and the stock's stability.
Why It Matters
BlackRock's continued substantial ownership in Fox Corp suggests institutional confidence, potentially providing a floor for the stock price and attracting other long-term investors.
Risk Assessment
Risk Level: low — This filing indicates a stable, significant institutional ownership, which generally reduces volatility and risk for the stock.
Analyst Insight
A smart investor would view BlackRock's continued significant stake as a vote of confidence, suggesting Fox Corp could be a stable long-term holding, and might consider adding to their position or initiating one.
Key Numbers
- 27,279,842 — Shares Beneficially Owned (This is the total number of Fox Corp Class A Common Stock shares BlackRock Inc. reported owning as of December 31, 2023.)
- 10.9% — Percentage of Class A Stock (This represents BlackRock Inc.'s significant ownership stake in Fox Corp's Class A Common Stock, indicating a major institutional position.)
- December 31, 2023 — Reporting Date (This is the specific date for which BlackRock Inc.'s ownership data is being reported in the filing.)
Key Players & Entities
- BlackRock Inc. (company) — the institutional investor filing the SC 13G/A
- Fox Corp (company) — the subject company whose Class A Common Stock is being reported
- 27,279,842 shares (dollar_amount) — the total number of Class A Common Stock beneficially owned by BlackRock
- 10.9% (dollar_amount) — the percentage of Class A Common Stock beneficially owned by BlackRock
- December 31, 2023 (date) — the date of the event requiring the filing
- January 23, 2024 (date) — the filing date of the SC 13G/A amendment
Forward-Looking Statements
- BlackRock will maintain a significant stake in Fox Corp Class A Common Stock for the foreseeable future. (BlackRock Inc.) — high confidence, target: December 31, 2024
- Fox Corp's stock price will exhibit relative stability due to strong institutional backing. (Fox Corp) — medium confidence, target: June 30, 2024
FAQ
What is the purpose of this SC 13G/A filing by BlackRock Inc. regarding Fox Corp?
BlackRock Inc. filed this SC 13G/A (Amendment No: 4) to update its beneficial ownership of Fox Corp's Class A Common Stock as of December 31, 2023, as required by Rule 13d-1(b) of the Securities Exchange Act of 1934.
How many shares of Fox Corp Class A Common Stock does BlackRock Inc. beneficially own according to this filing?
According to the filing, BlackRock Inc. beneficially owns 27,279,842 shares of Fox Corp Class A Common Stock as of December 31, 2023.
What percentage of Fox Corp's Class A Common Stock does BlackRock Inc.'s ownership represent?
BlackRock Inc.'s beneficial ownership of 27,279,842 shares represents 10.9% of Fox Corp's Class A Common Stock.
When was the 'Date of Event Which Requires Filing of this Statement' for this SC 13G/A?
The 'Date of Event Which Requires Filing of this Statement' was December 31, 2023, as stated in the filing.
Under which rule was this Schedule 13G filed?
This Schedule 13G was filed under Rule 13d-1(b), as indicated by the 'X' next to '[X] Rule 13d-1(b)' in the filing.
Filing Details
This Form SC 13G/A (Form SC 13G/A) was filed with the SEC on January 23, 2024 regarding Fox Corp (FOX).