Mitsubishi UFJ Kokusai Asset Management Co. Ltd. Increases Stake in Fox Co. (NASDAQ:FOX)

Posted by Defense World Staff on May 6th, 2023

Mitsubishi UFJ Kokusai Asset Management Co. Ltd. boosted its stake in Fox Co. (NASDAQ:FOX – Get Rating) by 23.3% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 98,514 shares of the company’s stock after purchasing an additional 18,622 shares during the period. Mitsubishi UFJ Kokusai Asset Management Co. Ltd.’s holdings in FOX were worth $2,792,000 at the end of the most recent reporting period.

A number of other large investors have also bought and sold shares of FOX. California Public Employees Retirement System grew its position in shares of FOX by 20.1% in the 3rd quarter. California Public Employees Retirement System now owns 328,856 shares of the company’s stock worth $9,372,000 after buying an additional 55,049 shares during the last quarter. Forsta AP Fonden grew its position in shares of FOX by 22.4% in the 4th quarter. Forsta AP Fonden now owns 147,600 shares of the company’s stock worth $4,199,000 after buying an additional 27,000 shares during the last quarter. Canada Pension Plan Investment Board grew its position in shares of FOX by 518.8% in the 3rd quarter. Canada Pension Plan Investment Board now owns 913,533 shares of the company’s stock worth $26,036,000 after buying an additional 765,900 shares during the last quarter. Verition Fund Management LLC bought a new stake in shares of FOX in the 3rd quarter worth approximately $4,170,000. Finally, F&V Capital Management LLC grew its position in shares of FOX by 2.1% in the 4th quarter. F&V Capital Management LLC now owns 267,190 shares of the company’s stock worth $7,602,000 after buying an additional 5,555 shares during the last quarter. 23.43% of the stock is owned by hedge funds and other institutional investors.

FOX Trading Up 2.7 %

NASDAQ FOX opened at $29.39 on Friday. The company has a quick ratio of 2.86, a current ratio of 3.37 and a debt-to-equity ratio of 0.62. Fox Co. has a twelve month low of $26.35 and a twelve month high of $34.42. The firm has a market capitalization of $15.71 billion, a PE ratio of 10.77 and a beta of 0.90. The stock’s 50 day moving average is $30.82 and its 200 day moving average is $30.17.

FOX (NASDAQ:FOX – Get Rating) last released its quarterly earnings results on Wednesday, February 8th. The company reported $0.48 earnings per share for the quarter, beating the consensus estimate of $0.43 by $0.05. 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. During the same quarter in the prior year, the firm earned $0.13 earnings per share.

FOX Dividend Announcement

The company also recently declared a Semi-Annual dividend, which was paid on Wednesday, March 29th. Investors of record on Wednesday, March 1st were given a dividend of $0.25 per share. The ex-dividend date was Tuesday, February 28th. This represents a dividend yield of 1.5%. FOX’s dividend payout ratio is presently 18.32%.

Insider Activity at FOX

In other FOX 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 value 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 19.21% of the stock is currently owned by corporate insiders.

Analysts Set New Price Targets

Separately, Rosenblatt Securities reiterated a “neutral” rating and issued a $35.00 price objective on shares of FOX in a research report on Wednesday, March 22nd.

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.