Asset Management One Co. Ltd. Reduces Stock Position in Fox Co. (NASDAQ:FOXA)

Posted by Defense World Staff on May 2nd, 2023

Asset Management One Co. Ltd. cut its holdings in shares of Fox Co. (NASDAQ:FOXA – Get Rating) by 21.0% during the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 124,037 shares of the company’s stock after selling 32,930 shares during the quarter. Asset Management One Co. Ltd.’s holdings in FOX were worth $3,790,000 at the end of the most recent quarter.

Several other hedge funds and other institutional investors also recently bought and sold shares of the business. Raymond James Financial Services Advisors Inc. grew its position in shares of FOX by 13.7% in the 1st quarter. Raymond James Financial Services Advisors Inc. now owns 20,289 shares of the company’s stock worth $800,000 after acquiring an additional 2,440 shares in the last quarter. American Century Companies Inc. grew its position in shares of FOX by 2.6% in the 1st quarter. American Century Companies Inc. now owns 56,001 shares of the company’s stock worth $2,210,000 after acquiring an additional 1,428 shares in the last quarter. US Bancorp DE grew its position in shares of FOX by 34.7% in the 1st quarter. US Bancorp DE now owns 12,614 shares of the company’s stock worth $498,000 after acquiring an additional 3,249 shares in the last quarter. PNC Financial Services Group Inc. grew its position in shares of FOX by 6.4% in the 1st quarter. PNC Financial Services Group Inc. now owns 24,691 shares of the company’s stock worth $974,000 after acquiring an additional 1,486 shares in the last quarter. Finally, Acadian Asset Management LLC grew its position in shares of FOX by 196.3% in the 1st quarter. Acadian Asset Management LLC now owns 2,717 shares of the company’s stock worth $107,000 after acquiring an additional 1,800 shares in the last quarter. 55.65% of the stock is currently owned by hedge funds and other institutional investors.

Analyst Ratings Changes

A number of research analysts recently issued reports on the company. StockNews.com assumed coverage on FOX in a research report on Thursday, March 16th. They set a “hold” rating for the company. Wolfe Research lowered FOX from a “peer perform” rating to an “underperform” rating and set a $28.00 price objective for the company. in a research report on Tuesday, January 3rd. Bank of America lowered FOX from a “buy” rating to a “neutral” rating and reduced their price objective for the company from $42.00 to $34.00 in a research report on Tuesday, March 28th. Deutsche Bank Aktiengesellschaft boosted their price objective on FOX from $39.00 to $40.00 and gave the company a “buy” rating in a research report on Thursday, February 9th. Finally, Citigroup boosted their price objective on FOX from $35.00 to $40.00 and gave the company a “neutral” rating in a research report on Monday, February 13th. Two investment analysts have rated the stock with a sell rating, nine have given a hold rating and six have issued a buy rating to the company. According to MarketBeat.com, the company presently has a consensus rating of “Hold” and an average target price of $37.50.

FOX Stock Up 0.1 %

FOXA opened at $33.30 on Tuesday. Fox Co. has a one year low of $28.01 and a one year high of $37.26. The company has a debt-to-equity ratio of 0.62, a quick ratio of 2.86 and a current ratio of 3.37. The stock’s fifty day moving average is $33.85 and its 200-day moving average is $32.40. The company has a market capitalization of $17.80 billion, a PE ratio of 12.20, a P/E/G ratio of 0.98 and a beta of 0.85.

FOX (NASDAQ:FOXA – Get Rating) last posted its quarterly earnings data on Wednesday, February 8th. The company reported $0.48 EPS for the quarter, topping analysts’ consensus estimates of $0.46 by $0.02. FOX had a return on equity of 15.71% and a net margin of 10.55%. The company had revenue of $4.61 billion for the quarter, compared to the consensus estimate of $4.58 billion. During the same quarter in the previous year, the business earned $0.13 EPS. The company’s quarterly revenue was up 3.7% compared to the same quarter last year. On average, equities analysts predict that Fox Co. will post 3.41 EPS for the current fiscal year.

FOX Announces Dividend

The business also recently announced a Semi-Annual dividend, which was paid on Wednesday, March 29th. Stockholders of record on Wednesday, March 1st were given a dividend of $0.25 per share. This represents a dividend yield of 1.4%. The ex-dividend date of this dividend was Tuesday, February 28th. FOX’s dividend payout ratio (DPR) is presently 18.32%.

Insider Transactions at FOX

In other news, insider Viet D. Dinh sold 72,207 shares of the business’s stock in a transaction on Thursday, February 9th. The stock was sold at an average price of $35.91, for a total transaction of $2,592,953.37. Following the sale, the insider now directly owns 49,384 shares of the company’s stock, valued at $1,773,379.44. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 19.86% of the stock is owned by insiders.

FOX Profile

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Fox Corp. delivers news, sports and entertainment content. The company provides news under the brands FOX News Media, FOX Sports, FOX Entertainment and FOX Television Stations. It operates through three segments: Cable Network Programming, Television, and Other, Corporate and Eliminations. The Cable Network Programming segment consists of the production and licensing of news and sports content distributed primarily through traditional cable television systems, direct broadcast satellite operators and telecommunication companies and online multi-channel video programming distributors.