Mirae Asset Global Investments Co. Ltd. Has $5.34 Million Position in Fox Co. (NASDAQ:FOXA)

Mirae Asset Global Investments Co. Ltd. grew its holdings in Fox Co. (NASDAQ:FOXA) by 75.0% during the fourth quarter, Holdings Channel reports. The firm owned 108,902 shares of the company’s stock after acquiring 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 quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FOXA. Brooklyn Investment Group increased its holdings in FOX by 142.5% in the fourth quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after purchasing an additional 466 shares in the last quarter. Quest Partners LLC bought a new stake in shares of FOX in the 3rd quarter valued at $51,000. Quarry LP acquired a new position in shares of FOX during the 3rd quarter valued at $70,000. Versant Capital Management Inc lifted its position in shares of FOX by 3,551.1% during the 4th quarter. Versant Capital Management Inc now owns 1,716 shares of the company’s stock valued at $83,000 after acquiring an additional 1,669 shares during the period. Finally, Transamerica Financial Advisors Inc. bought a new position in FOX during the third quarter worth $119,000. Institutional investors own 52.52% of the company’s stock.

FOX Stock Performance

Shares of FOXA opened at $52.79 on Friday. The stock has a 50 day moving average of $48.92 and a 200 day moving average of $44.09. The company 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 12 month low of $28.28 and a 12 month high of $55.56. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping analysts’ consensus estimates of $0.62 by $0.34. The company had revenue of $5.08 billion for the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 16.49% and a net margin of 13.40%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same period in the previous year, the business posted $0.34 EPS. As a group, sell-side analysts forecast that Fox Co. will post 4.12 earnings per share for the current year.

FOX Dividend Announcement

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

Analysts Set New Price Targets

FOXA has been the topic of several research reports. Deutsche Bank Aktiengesellschaft upped their price objective on shares of FOX from $42.00 to $47.00 and gave the company a “buy” rating in a report on Tuesday, November 5th. StockNews.com lowered FOX from a “buy” rating to a “hold” rating in a report on Tuesday, December 17th. Loop Capital upped their target price on FOX from $48.00 to $55.00 and gave the stock a “buy” rating in a research report on Wednesday, December 18th. Macquarie reiterated a “neutral” rating and issued a $43.00 target price on shares of FOX in a report on Tuesday, November 5th. Finally, Citigroup boosted their price target on shares of FOX from $50.00 to $58.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. One equities research analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have given a buy rating to the stock. Based on data from MarketBeat.com, the company has a consensus rating of “Hold” and an average target price of $50.19.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction on Monday, November 25th. The stock was sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on 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. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.