Asset Management One Co. Ltd. Acquires 23,704 Shares of Fox Co. (NASDAQ:FOXA)

Asset Management One Co. Ltd. boosted its holdings in shares of Fox Co. (NASDAQ:FOXA) by 25.0% during the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 118,380 shares of the company’s stock after acquiring an additional 23,704 shares during the quarter. Asset Management One Co. Ltd.’s holdings in FOX were worth $5,856,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. grew its holdings in FOX by 1.7% during the third quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock valued at $991,000 after purchasing an additional 385 shares during the last quarter. Ritholtz Wealth Management grew its holdings in FOX by 4.1% during the fourth quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock valued at $491,000 after purchasing an additional 399 shares during the last quarter. Kathmere Capital Management LLC grew its holdings in FOX by 9.0% during the fourth quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock valued at $255,000 after purchasing an additional 431 shares during the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 1.6% during the third quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock valued at $1,249,000 after purchasing an additional 451 shares during the last quarter. Finally, Brooklyn Investment Group grew its holdings in FOX by 142.5% during the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock valued at $39,000 after purchasing an additional 466 shares during the last quarter. Institutional investors own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

FOXA has been the topic of several analyst reports. JPMorgan Chase & Co. increased their price target on FOX from $49.00 to $54.00 and gave the company a “neutral” rating in a report on Wednesday, February 5th. Moffett Nathanson downgraded FOX from a “buy” rating to a “neutral” rating and increased their price target for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. The Goldman Sachs Group raised their price objective on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research note on Thursday, December 19th. Bank of America raised their price objective on shares of FOX from $50.00 to $55.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Morgan Stanley raised their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. One research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company’s stock. According to data from MarketBeat.com, the stock currently has an average rating of “Hold” and a consensus price target of $51.00.

FOX Stock Up 1.2 %

Shares of NASDAQ FOXA opened at $56.29 on Wednesday. The stock has a market cap of $25.71 billion, a PE ratio of 12.05, a PEG ratio of 1.17 and a beta of 0.76. The business has a fifty day moving average of $50.01 and a two-hundred day moving average of $45.01. Fox Co. has a 52-week low of $28.28 and a 52-week high of $56.37. 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:FOXA) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. The business’s revenue was up 19.9% on a year-over-year basis. During the same period last year, the business earned $0.34 earnings per share. As a group, equities research analysts expect that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a dividend yield of 1%. FOX’s payout ratio is presently 11.56%.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction dated Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 21.77% of the company’s stock.

About FOX

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.