Mirae Asset Global Investments Co. Ltd. Acquires 46,684 Shares of Fox Co. (NASDAQ:FOXA)

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

A number of other hedge funds and other institutional investors have also recently added to or reduced their stakes in FOXA. Brooklyn Investment Group boosted its holdings in shares of 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. Quest Partners LLC acquired a new stake in FOX during the 3rd quarter worth approximately $51,000. Quarry LP bought a new stake in FOX in the 3rd quarter valued at $70,000. Versant Capital Management Inc increased its position in FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock worth $83,000 after buying an additional 1,669 shares during the period. Finally, Transamerica Financial Advisors Inc. acquired a new stake in shares of FOX during the third quarter worth $119,000. 52.52% of the stock is owned by institutional investors.

FOX Stock Down 0.8 %

Shares of FOXA opened at $52.79 on Friday. The stock has a market capitalization of $24.11 billion, a price-to-earnings ratio of 12.91, a PEG ratio of 1.25 and a beta of 0.76. Fox Co. has a 52 week low of $28.28 and a 52 week high of $55.56. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The stock has a fifty day moving average of $48.92 and a 200-day moving average of $44.09.

FOX (NASDAQ:FOXA) last announced its quarterly earnings results 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 return on equity of 16.49% and a net margin of 13.40%. The firm had revenue of $5.08 billion for the quarter, compared to analyst estimates of $4.78 billion. During the same period last year, the firm posted $0.34 earnings per share. The business’s revenue for the quarter was up 19.9% on a year-over-year basis. As a group, sell-side analysts anticipate that Fox Co. will post 4.12 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a semi-annual dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a yield of 1%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 13.20%.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the stock in a transaction dated Monday, November 25th. The stock was sold at an average price of $46.22, for a total value of $8,637,177.62. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The stock was 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 of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

Analyst Ratings Changes

Several analysts have weighed in on the stock. Deutsche Bank Aktiengesellschaft lifted their price objective on shares of FOX from $42.00 to $47.00 and gave the stock a “buy” rating in a research note on Tuesday, November 5th. The Goldman Sachs Group boosted their price target on FOX from $51.00 to $57.00 and gave the company a “buy” rating in a research note on Thursday, December 19th. Wells Fargo & Company raised their price objective on FOX from $59.00 to $64.00 and gave the stock an “overweight” rating in a research note on Wednesday. Guggenheim raised their price target on FOX from $55.00 to $60.00 and gave the stock a “buy” rating in a research report on Wednesday. Finally, Macquarie reaffirmed a “neutral” rating and set a $43.00 price objective on shares of FOX in a research report on Tuesday, November 5th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have assigned a buy rating to the stock. According to data from MarketBeat.com, the stock presently has a consensus rating of “Hold” and an average target price of $50.19.

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.