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

Mirae Asset Global Investments Co. Ltd. increased its holdings in shares of Fox Co. (NASDAQ:FOXA - Free Report) by 75.0% during the 4th quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 108,902 shares of the company's stock after buying an additional 46,684 shares during the period. Mirae Asset Global Investments Co. Ltd.'s holdings in FOX were worth $5,335,000 at the end of the most recent quarter.

Several other large investors have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. increased its stake in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company's stock worth $991,000 after buying an additional 385 shares during the period. Ritholtz Wealth Management increased its stake in FOX by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company's stock worth $491,000 after buying an additional 399 shares during the period. Kathmere Capital Management LLC increased its stake in FOX by 9.0% during the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company's stock worth $255,000 after buying an additional 431 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its stake in FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company's stock worth $1,249,000 after buying an additional 451 shares during the period. Finally, Brooklyn Investment Group increased its stake in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company's stock worth $39,000 after buying an additional 466 shares during the period. 52.52% of the stock is owned by hedge funds and other institutional investors.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 186,871 shares of the business's stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total value of $8,637,177.62. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 21.77% of the company's stock.

Analysts Set New Price Targets

A number of brokerages have commented on FOXA. StockNews.com downgraded shares of FOX from a "buy" rating to a "hold" rating in a research report on Tuesday, December 17th. Moffett Nathanson cut shares of FOX from a "buy" rating to a "neutral" rating and upped their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Morgan Stanley upped their target price on shares of FOX from $38.00 to $40.00 and gave the company an "equal weight" rating in a report on Friday, November 1st. Deutsche Bank Aktiengesellschaft upped their target price on shares of FOX from $42.00 to $47.00 and gave the company a "buy" rating in a report on Tuesday, November 5th. Finally, Macquarie reiterated a "neutral" rating and set a $43.00 price target on shares of FOX in a research note on Tuesday, November 5th. One equities research analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the company's stock. Based on data from MarketBeat.com, the company currently has an average rating of "Hold" and a consensus target price of $50.19.

FOX Stock Performance

Shares of NASDAQ:FOXA traded up $0.14 during midday trading on Tuesday, hitting $53.39. The stock had a trading volume of 2,290,019 shares, compared to its average volume of 3,469,264. The company has a current ratio of 2.50, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57. Fox Co. has a 1 year low of $28.28 and a 1 year high of $55.56. The stock has a 50 day moving average price of $49.16 and a two-hundred day moving average price of $44.41. The company has a market capitalization of $24.39 billion, a PE ratio of 11.43, a P/E/G ratio of 1.17 and a beta of 0.76.

FOX (NASDAQ:FOXA - Get Free Report) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 net margin of 14.39% and a return on equity of 18.50%. The firm's quarterly revenue was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the business posted $0.34 earnings per share. As a group, equities analysts predict that Fox Co. will post 4.38 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. This represents a yield of 1%. The ex-dividend date is Wednesday, March 5th. FOX's payout ratio is currently 11.56%.

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.