Mirae Asset Global Investments Co. Ltd. Increases Position in Fox Co. (NASDAQ:FOX)

Mirae Asset Global Investments Co. Ltd. boosted its stake in Fox Co. (NASDAQ:FOX) by 22.6% during the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 15,955 shares of the company’s stock after acquiring an additional 2,945 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in FOX were worth $742,000 at the end of the most recent reporting period.

A number of other hedge funds have also bought and sold shares of FOX. Yousif Capital Management LLC increased its position in FOX by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock worth $874,000 after buying an additional 212 shares during the period. E. Ohman J or Asset Management AB boosted its position in FOX by 69.6% during the 4th quarter. E. Ohman J or Asset Management AB now owns 8,140 shares of the company’s stock worth $372,000 after acquiring an additional 3,340 shares during the period. Mather Group LLC. raised its stake in shares of FOX by 27.6% during the fourth quarter. Mather Group LLC. now owns 4,795 shares of the company’s stock valued at $219,000 after purchasing an additional 1,037 shares in the last quarter. Synergy Asset Management LLC increased its stake in FOX by 73.2% during the 4th quarter. Synergy Asset Management LLC now owns 61,166 shares of the company’s stock valued at $2,566,000 after buying an additional 25,846 shares during the period. Finally, Blue Trust Inc. lifted its stake in shares of FOX by 35.4% in the 4th quarter. Blue Trust Inc. now owns 7,499 shares of the company’s stock worth $343,000 after acquiring an additional 1,960 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Upgrades and Downgrades

Separately, Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a research report on Tuesday, January 21st.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of FOX stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

FOX Price Performance

NASDAQ FOX opened at $51.45 on Thursday. Fox Co. has a 1 year low of $25.82 and a 1 year high of $52.54. The business’s fifty day moving average is $46.71 and its two-hundred day moving average is $41.69. The stock has a market capitalization of $23.50 billion, a P/E ratio of 11.02, a P/E/G ratio of 1.47 and a beta of 0.82. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.33 and a current ratio of 2.50.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping the consensus estimate of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same period in the previous year, the business earned $0.34 earnings per share. On average, research analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.10%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 11.56%.

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.