Fox Co. (NASDAQ:FOXA) Position Reduced by Mirae Asset Global Investments Co. Ltd.

Mirae Asset Global Investments Co. Ltd. reduced its position in Fox Co. (NASDAQ:FOXA) by 18.5% during the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 43,729 shares of the company’s stock after selling 9,927 shares during the period. Mirae Asset Global Investments Co. Ltd.’s holdings in FOX were worth $1,297,000 as of its most recent SEC filing.

A number of other large investors have also made changes to their positions in the company. Global Retirement Partners LLC lifted its stake in FOX by 862.2% in the 4th quarter. Global Retirement Partners LLC now owns 943 shares of the company’s stock worth $29,000 after acquiring an additional 845 shares in the last quarter. MV Capital Management Inc. lifted its position in shares of FOX by 36.5% in the third quarter. MV Capital Management Inc. now owns 1,416 shares of the company’s stock worth $44,000 after purchasing an additional 379 shares in the last quarter. ING Groep NV acquired a new stake in shares of FOX during the third quarter worth approximately $58,000. MEAG MUNICH ERGO Kapitalanlagegesellschaft mbH purchased a new position in FOX during the fourth quarter valued at approximately $76,000. Finally, V Square Quantitative Management LLC increased its stake in FOX by 220.8% in the 3rd quarter. V Square Quantitative Management LLC now owns 5,736 shares of the company’s stock valued at $179,000 after buying an additional 3,948 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analyst Weigh In

FOXA has been the topic of several research analyst reports. Rosenblatt Securities restated a “neutral” rating and set a $34.00 price target on shares of FOX in a report on Monday, April 15th. Citigroup raised FOX from a “neutral” rating to a “buy” rating and raised their price target for the stock from $34.00 to $35.00 in a research note on Friday, February 23rd. Wolfe Research raised FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. TheStreet lowered shares of FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th. Finally, Seaport Res Ptn raised shares of FOX from a “neutral” rating to a “buy” rating in a research report on Friday, April 5th. One equities research analyst has rated the stock with a sell rating, nine have given a hold rating and two have issued a buy rating to the stock. According to MarketBeat.com, FOX presently has a consensus rating of “Hold” and a consensus price target of $33.40.

FOX Price Performance

NASDAQ FOXA opened at $31.40 on Tuesday. The company has a market cap of $14.91 billion, a P/E ratio of 18.58, a P/E/G ratio of 0.42 and a beta of 0.78. Fox Co. has a 1 year low of $28.28 and a 1 year high of $35.40. The company has a current ratio of 2.29, a quick ratio of 2.01 and a debt-to-equity ratio of 0.70. The company has a fifty day simple moving average of $30.22 and a 200 day simple moving average of $30.39.

FOX (NASDAQ:FOXA) last issued its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a return on equity of 15.81% and a net margin of 5.75%. The company had revenue of $4.23 billion for the quarter, compared to the consensus estimate of $4.21 billion. During the same period last year, the business posted $0.48 earnings per share. The firm’s revenue was down 8.1% compared to the same quarter last year. On average, sell-side analysts predict that Fox Co. will post 3.19 EPS for the current year.

FOX Announces Dividend

The firm also recently declared a Semi-Annual dividend, which was paid on Tuesday, March 26th. Stockholders of record on Wednesday, March 6th were issued a dividend of $0.26 per share. The ex-dividend date was Tuesday, March 5th. This represents a dividend yield of 1.8%. FOX’s dividend payout ratio (DPR) is presently 30.77%.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.