Sumitomo Mitsui DS Asset Management Company Ltd Increases Stock Position in Fox Co. (NASDAQ:FOXA)

Sumitomo Mitsui DS Asset Management Company Ltd grew its position in Fox Co. (NASDAQ:FOXA) by 1.6% in the 3rd quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 29,501 shares of the company’s stock after purchasing an additional 451 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in FOX were worth $1,249,000 at the end of the most recent reporting period.

Other institutional investors and hedge funds also recently made changes to their positions in the company. Mitsubishi UFJ Trust & Banking Corp grew its position in FOX by 31.1% during the first quarter. Mitsubishi UFJ Trust & Banking Corp now owns 495,488 shares of the company’s stock valued at $15,523,000 after buying an additional 117,458 shares during the period. Jane Street Group LLC grew its position in FOX by 25.2% during the first quarter. Jane Street Group LLC now owns 139,502 shares of the company’s stock valued at $4,362,000 after buying an additional 28,072 shares during the period. UniSuper Management Pty Ltd grew its position in FOX by 565.6% during the first quarter. UniSuper Management Pty Ltd now owns 23,830 shares of the company’s stock valued at $745,000 after buying an additional 20,250 shares during the period. CreativeOne Wealth LLC bought a new position in FOX during the first quarter valued at about $609,000. Finally, SG Americas Securities LLC grew its position in FOX by 89.6% during the first quarter. SG Americas Securities LLC now owns 50,354 shares of the company’s stock valued at $1,575,000 after buying an additional 23,791 shares during the period. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Trading Up 0.4 %

Shares of FOXA opened at $42.23 on Wednesday. The firm’s 50 day simple moving average is $41.04 and its 200 day simple moving average is $36.62. The company has a market capitalization of $19.71 billion, a P/E ratio of 13.24, a P/E/G ratio of 1.90 and a beta of 0.76. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33. Fox Co. has a 1-year low of $28.28 and a 1-year high of $42.85.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.83 by $0.07. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. FOX’s quarterly revenue was up 2.0% on a year-over-year basis. During the same period last year, the firm posted $0.88 earnings per share. Sell-side analysts forecast that Fox Co. will post 3.69 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were given a $0.27 dividend. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Wednesday, September 4th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is currently 16.93%.

Wall Street Analyst Weigh In

FOXA has been the subject of several research reports. Rosenblatt Securities increased their price target on shares of FOX from $37.00 to $38.00 and gave the company a “neutral” rating in a research report on Wednesday, August 7th. Loop Capital increased their price target on shares of FOX from $43.00 to $46.00 and gave the company a “buy” rating in a research report on Tuesday, October 8th. JPMorgan Chase & Co. increased their target price on shares of FOX from $38.00 to $41.00 and gave the stock a “neutral” rating in a research report on Wednesday, September 25th. Macquarie increased their target price on shares of FOX from $32.00 to $35.00 and gave the stock a “neutral” rating in a research report on Monday, August 12th. Finally, Barclays increased their target price on shares of FOX from $36.00 to $39.00 and gave the stock an “equal weight” rating in a research report on Wednesday, October 9th. One analyst has rated the stock with a sell rating, eight have assigned a hold rating and seven have issued a buy rating to the company. According to data from MarketBeat.com, the company currently has a consensus rating of “Hold” and an average target price of $41.08.

Insider Buying and Selling at FOX

In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. This trade represents a 0.00 % increase in their position. The acquisition was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The disclosure for this purchase can be found here. Corporate insiders own 21.77% of the company’s stock.

FOX Company 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.