Resona Asset Management Co. Ltd. Invests $3.37 Million in Fox Co. (NASDAQ:FOXA)

Resona Asset Management Co. Ltd. bought a new position in Fox Co. (NASDAQ:FOXA) during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The fund bought 69,233 shares of the company’s stock, valued at approximately $3,372,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. Nomura Asset Management Co. Ltd. raised its holdings in shares of FOX by 0.9% in the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 69,082 shares of the company’s stock worth $2,924,000 after purchasing an additional 590 shares during the period. M&T Bank Corp raised its holdings in shares of FOX by 7.4% in the 3rd quarter. M&T Bank Corp now owns 14,645 shares of the company’s stock worth $620,000 after purchasing an additional 1,010 shares during the period. Prestige Wealth Management Group LLC raised its holdings in shares of FOX by 14.7% in the 3rd quarter. Prestige Wealth Management Group LLC now owns 4,445 shares of the company’s stock worth $188,000 after purchasing an additional 569 shares during the period. Toronto Dominion Bank raised its holdings in shares of FOX by 11.8% in the 3rd quarter. Toronto Dominion Bank now owns 76,077 shares of the company’s stock worth $3,220,000 after purchasing an additional 8,040 shares during the period. Finally, Invst LLC bought a new stake in shares of FOX in the 3rd quarter worth approximately $740,000. Hedge funds and other institutional investors own 52.52% of the company’s stock.

FOX Stock Up 8.6 %

Shares of NASDAQ:FOXA opened at $51.51 on Thursday. Fox Co. has a 52-week low of $30.02 and a 52-week high of $58.74. The firm has a fifty day moving average of $54.15 and a 200 day moving average of $48.79. The firm has a market capitalization of $23.36 billion, a PE ratio of 11.03, a price-to-earnings-growth ratio of 1.27 and a beta of 0.51. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50.

FOX (NASDAQ:FOXA) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a net margin of 14.39% and a return on equity of 18.50%. The company had revenue of $5.08 billion during the quarter, compared to analyst estimates of $4.78 billion. During the same period in the previous year, the business earned $0.34 earnings per share. The firm’s quarterly revenue was up 19.9% compared to the same quarter last year. As a group, research analysts anticipate that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Dividend Announcement

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

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 completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated 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 owned by company insiders.

Wall Street Analyst Weigh In

FOXA has been the topic of a number of research reports. UBS Group lifted their price target on shares of FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a report on Thursday, February 13th. Moffett Nathanson cut shares of FOX from a “buy” rating to a “neutral” rating and boosted their target price for the company from $51.00 to $52.00 in a report on Tuesday, January 21st. Loop Capital boosted their target price on shares of FOX from $60.00 to $62.00 and gave the company a “buy” rating in a report on Tuesday, April 1st. Wells Fargo & Company lowered their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Finally, Barclays lowered their target price on shares of FOX from $50.00 to $45.00 and set an “equal weight” rating on the stock in a report on Tuesday. Two analysts have rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the company. Based on data from MarketBeat.com, FOX presently has a consensus rating of “Hold” and an average price target of $51.06.

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.