Mitsubishi UFJ Asset Management Co. Ltd. Acquires 44,414 Shares of Fox Co. (NASDAQ:FOXA)

Mitsubishi UFJ Asset Management Co. Ltd. increased its holdings in Fox Co. (NASDAQ:FOXA) by 15.1% in the 4th quarter, Holdings Channel reports. The institutional investor owned 339,270 shares of the company’s stock after purchasing an additional 44,414 shares during the period. Mitsubishi UFJ Asset Management Co. Ltd.’s holdings in FOX were worth $16,733,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds have also bought and sold shares of the company. Pacer Advisors Inc. boosted its holdings in shares of FOX by 5.4% in the fourth quarter. Pacer Advisors Inc. now owns 8,340,762 shares of the company’s stock worth $405,194,000 after acquiring an additional 425,186 shares during the period. Amundi boosted its stake in FOX by 9.9% in the 4th quarter. Amundi now owns 2,434,443 shares of the company’s stock worth $119,006,000 after purchasing an additional 219,380 shares during the period. Charles Schwab Investment Management Inc. grew its holdings in FOX by 1.6% during the 4th quarter. Charles Schwab Investment Management Inc. now owns 2,417,818 shares of the company’s stock valued at $117,458,000 after buying an additional 37,505 shares in the last quarter. KBC Group NV increased its position in shares of FOX by 56.1% during the fourth quarter. KBC Group NV now owns 2,367,698 shares of the company’s stock valued at $115,022,000 after buying an additional 851,127 shares during the period. Finally, Great Lakes Advisors LLC lifted its holdings in shares of FOX by 3.0% in the fourth quarter. Great Lakes Advisors LLC now owns 1,688,515 shares of the company’s stock worth $82,028,000 after buying an additional 49,365 shares in the last quarter. 52.52% of the stock is currently owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ FOXA opened at $54.73 on Monday. The company has a 50-day simple moving average of $53.69 and a two-hundred day simple moving average of $48.10. Fox Co. has a 12-month low of $30.02 and a 12-month high of $58.74. The firm has a market cap of $24.82 billion, a price-to-earnings ratio of 11.72, a PEG ratio of 1.27 and a beta of 0.67. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOXA) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate of $0.62 by $0.34. The company had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. FOX had a return on equity of 18.50% and a net margin of 14.39%. FOX’s quarterly revenue was up 19.9% compared to the same quarter last year. During the same period in the prior year, the business posted $0.34 EPS. On average, equities analysts forecast that Fox Co. will post 4.38 EPS for the current year.

FOX Dividend Announcement

The company also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a dividend yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio is 11.56%.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is owned by insiders.

Wall Street Analysts Forecast Growth

FOXA has been the topic of a number of analyst reports. Wells Fargo & Company decreased their target price on shares of FOX from $64.00 to $63.00 and set an “overweight” rating on the stock in a report on Wednesday, March 26th. Guggenheim reiterated a “buy” rating and issued a $60.00 price objective on shares of FOX in a research report on Tuesday, March 25th. UBS Group boosted their target price on FOX from $50.00 to $63.00 and gave the stock a “buy” rating in a research report on Thursday, February 13th. Citigroup upped their target price on FOX from $50.00 to $58.00 and gave the stock a “buy” rating in a research note on Wednesday, December 18th. Finally, Moffett Nathanson lowered FOX from a “buy” rating to a “neutral” rating and boosted their price objective for the stock from $51.00 to $52.00 in a report on Tuesday, January 21st. One investment analyst has rated the stock with a sell rating, ten have assigned a hold rating and eight have issued a buy rating to the company’s stock. According to MarketBeat, the company has a consensus rating of “Hold” and an average target price of $51.13.

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.