Tokio Marine Asset Management Co. Ltd. Acquires New Stake in Fox Co. (NASDAQ:FOXA)

Tokio Marine Asset Management Co. Ltd. acquired a new stake in Fox Co. (NASDAQ:FOXA) during the 4th quarter, according to its most recent disclosure with the SEC. The fund acquired 11,310 shares of the company’s stock, valued at approximately $549,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the business. Crossmark Global Holdings Inc. lifted its position in FOX by 1.7% during the 3rd quarter. Crossmark Global Holdings Inc. now owns 23,408 shares of the company’s stock worth $991,000 after buying an additional 385 shares in the last quarter. Ritholtz Wealth Management lifted its position in FOX by 4.1% during the 4th quarter. Ritholtz Wealth Management now owns 10,104 shares of the company’s stock worth $491,000 after buying an additional 399 shares in the last quarter. Kathmere Capital Management LLC lifted its position in FOX by 9.0% during the 4th quarter. Kathmere Capital Management LLC now owns 5,246 shares of the company’s stock worth $255,000 after buying an additional 431 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in FOX by 1.6% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 29,501 shares of the company’s stock worth $1,249,000 after buying an additional 451 shares in the last quarter. Finally, Brooklyn Investment Group lifted its position in FOX by 142.5% during the 4th quarter. Brooklyn Investment Group now owns 793 shares of the company’s stock worth $39,000 after buying an additional 466 shares in the last quarter. 52.52% of the stock is owned by institutional investors.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 186,871 shares of the company’s stock in a transaction that occurred on Monday, November 25th. The shares were sold at an average price of $46.22, for a total transaction of $8,637,177.62. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Insiders own 21.77% of the company’s stock.

FOX Stock Performance

NASDAQ FOXA opened at $54.64 on Wednesday. The company has a quick ratio of 2.33, a current ratio of 2.59 and a debt-to-equity ratio of 0.58. The company has a market capitalization of $24.96 billion, a P/E ratio of 13.36, a P/E/G 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 firm has a 50-day moving average price of $48.46 and a two-hundred day moving average price of $43.83.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.62 by $0.34. The firm had revenue of $5.08 billion during the quarter, compared to the consensus estimate of $4.78 billion. FOX had a net margin of 13.40% and a return on equity of 16.49%. The business’s revenue for the quarter was up 19.9% compared to the same quarter last year. During the same quarter in the previous year, the firm posted $0.34 EPS. Analysts anticipate that Fox Co. will post 4.12 earnings per share for the current year.

Analyst Upgrades and Downgrades

Several brokerages have commented on FOXA. The Goldman Sachs Group boosted their price target on shares of FOX from $51.00 to $57.00 and gave the stock a “buy” rating in a research report on Thursday, December 19th. Citigroup boosted their price objective on shares of FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Morgan Stanley boosted their price objective on shares of FOX from $38.00 to $40.00 and gave the stock an “equal weight” rating in a research note on Friday, November 1st. Macquarie restated a “neutral” rating and set a $43.00 price objective on shares of FOX in a research note on Tuesday, November 5th. Finally, Wells Fargo & Company boosted their price objective on shares of FOX from $49.00 to $59.00 and gave the stock an “underweight” rating in a research note on Friday, January 10th. Two investment analysts have rated the stock with a sell rating, ten have given a hold rating and seven have issued a buy rating to the company’s stock. According to data from MarketBeat, the company has an average rating of “Hold” and a consensus price target of $48.25.

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.