178,692 Shares of Fox Corporation $FOXA Bought by Asset Management One Co. Ltd.

Key Points

• Asset Management One Co. Ltd. bought 178,692 Fox shares worth approximately $11.2 million during the third quarter. Institutional investors collectively own 52.52% of the company.
• Analyst sentiment remains positive overall, with FOX holding a “Moderate Buy” consensus rating and an average price target of $76.94, despite several recent upgrades and downgrades.
• Fox reported quarterly earnings of $1.79 per share, beating estimates of $1.44, while revenue rose 28.1% year over year to $4.21 billion. CEO Lachlan Murdoch also increased his stake by nearly 12% through a purchase of 149,934 shares.

Asset Management One Co. Ltd. acquired a new position in Fox Corporation (NASDAQ:FOXA - Free Report) during the 3rd quarter, according to the company in its most recent disclosure with the SEC. The fund acquired 178,692 shares of the company's stock, valued at approximately $11,195,000.

A number of other hedge funds and other institutional investors have also made changes to their positions in FOXA. National Pension Service increased its holdings in shares of FOX by 50.6% in the second quarter. National Pension Service now owns 71,860 shares of the company's stock valued at $3,748,000 after buying an additional 24,154 shares in the last quarter. Engineers Gate Manager LP acquired a new stake in shares of FOX during the 2nd quarter valued at $1,558,000. Livforsakringsbolaget Skandia Omsesidigt boosted its stake in shares of FOX by 9.9% during the 1st quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 287,000 shares of the company's stock worth $16,755,000 after acquiring an additional 25,900 shares in the last quarter. Allianz Asset Management GmbH boosted its stake in shares of FOX by 2.6% during the 2nd quarter. Allianz Asset Management GmbH now owns 966,811 shares of the company's stock worth $50,429,000 after acquiring an additional 24,511 shares in the last quarter. Finally, Squarepoint Ops LLC grew its holdings in shares of FOX by 12.4% in the 2nd quarter. Squarepoint Ops LLC now owns 1,127,389 shares of the company's stock worth $58,805,000 after acquiring an additional 124,143 shares during the last quarter. 52.52% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

A number of equities research analysts have recently issued reports on FOXA shares. Jefferies Financial Group lowered FOX to a "hold" rating in a research report on Friday, October 16th. Citizens Jmp assumed coverage on FOX in a research report on Monday, September 14th. They issued a "market outperform" rating and a $95.00 price target for the company. Seaport Research Partners cut FOX from a "buy" rating to a "neutral" rating in a research note on Friday, August 7th. Rothschild & Co Redburn upgraded FOX from a "neutral" rating to a "buy" rating and set a $71.00 price objective on the stock in a report on Friday, July 10th. Finally, JPMorgan Chase & Co. raised shares of FOX from a "neutral" rating to an "overweight" rating and upped their price objective for the company from $70.00 to $82.00 in a research note on Friday, August 14th. Two investment analysts have rated the stock with a Strong Buy rating, twelve have given a Buy rating and nine have issued a Hold rating to the stock. Based on data from MarketBeat, the stock currently has an average rating of "Moderate Buy" and a consensus target price of $76.94.

Insider Buying and Selling

In related news, CEO Lachlan Murdoch acquired 149,934 shares of the stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the completion of the transaction, the chief executive officer owned 1,401,713 shares of the company's stock, valued at approximately $96,059,391.89. This trade represents a 11.98% increase in their position. The purchase was disclosed in a filing with the SEC, which can be accessed through this link. Insiders own 20.89% of the company's stock.

FOX Price Performance

FOXA opened at $63.24 on Friday. The firm has a market capitalization of $26.54 billion, a P/E ratio of 16.51, a PEG ratio of 1.10 and a beta of 0.60. The stock has a fifty day moving average of $65.09 and a 200-day moving average of $62.32. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. Fox Corporation has a 12-month low of $48.34 and a 12-month high of $76.39.

FOX (NASDAQ:FOXA - Get Free Report) last issued its quarterly earnings results on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, beating analysts' consensus estimates of $1.44 by $0.35. The business had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. FOX's revenue for the quarter was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the company posted $1.27 earnings per share. Equities analysts forecast that Fox Corporation will post 6.06 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently declared a dividend, which was paid on Wednesday, September 23rd. Investors of record on Wednesday, September 2nd were issued a dividend of $0.29 per share. This represents a dividend yield of 86.0%. The ex-dividend date was Wednesday, September 2nd. FOX's dividend payout ratio (DPR) is currently 15.14%.

FOX Profile

Fox Corporation NASDAQ: FOXA is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.

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