Resona Asset Management Co. Ltd. Buys Shares of 69,233 Fox Co. (NASDAQ:FOXA)

Resona Asset Management Co. Ltd. purchased a new position in Fox Co. (NASDAQ:FOXA - Free Report) in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund purchased 69,233 shares of the company's stock, valued at approximately $3,372,000.

Other large investors have also modified their holdings of the company. WealthTrak Capital Management LLC acquired a new position in FOX during the 4th quarter worth approximately $26,000. SRS Capital Advisors Inc. lifted its position in shares of FOX by 91.0% during the 4th quarter. SRS Capital Advisors Inc. now owns 550 shares of the company's stock worth $27,000 after purchasing an additional 262 shares during the last quarter. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the fourth quarter valued at $28,000. Jones Financial Companies Lllp raised its stake in FOX by 61.5% in the fourth quarter. Jones Financial Companies Lllp now owns 654 shares of the company's stock valued at $32,000 after buying an additional 249 shares in the last quarter. Finally, CIBC Private Wealth Group LLC raised its stake in FOX by 122.3% in the fourth quarter. CIBC Private Wealth Group LLC now owns 669 shares of the company's stock valued at $33,000 after buying an additional 368 shares in the last quarter. Hedge funds and other institutional investors own 52.52% of the company's stock.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of recent analyst reports. Wells Fargo & Company dropped their price objective on FOX from $64.00 to $63.00 and set an "overweight" rating on the stock in a report on Wednesday, March 26th. JPMorgan Chase & Co. increased their price target on shares of FOX from $49.00 to $54.00 and gave the company a "neutral" rating in a research note on Wednesday, February 5th. Citigroup boosted their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a "buy" rating in a research report on Wednesday, December 18th. Guggenheim reiterated a "buy" rating and set a $60.00 price target on shares of FOX in a research note on Tuesday, March 25th. Finally, The Goldman Sachs Group set a $60.00 price objective on shares of FOX and gave the company a "buy" rating in a research note on Tuesday, February 4th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and eight have issued a buy rating to the company's stock. According to data from MarketBeat, the stock presently has an average rating of "Hold" and a consensus price target of $51.06.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 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. 21.77% of the stock is currently owned by corporate insiders.

FOX Stock Performance

NASDAQ:FOXA traded up $0.64 during midday trading on Tuesday, reaching $50.17. The stock had a trading volume of 740,105 shares, compared to its average volume of 3,362,458. Fox Co. has a 12-month low of $30.02 and a 12-month high of $58.74. The stock has a market cap of $22.75 billion, a P/E ratio of 10.75, a P/E/G ratio of 1.27 and a beta of 0.51. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The firm has a fifty day simple moving average of $53.88 and a two-hundred day simple moving average of $48.99.

FOX (NASDAQ:FOXA - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. During the same quarter last year, the firm earned $0.34 earnings per share. The firm's revenue was up 19.9% compared to the same quarter last year. On average, equities analysts expect that Fox Co. will post 4.38 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a dividend yield of 1%. FOX's dividend payout ratio (DPR) is presently 11.56%.

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.