Asahi Life Asset Management CO. LTD. Makes New Investment in Fox Co. (NASDAQ:FOXA)

Asahi Life Asset Management CO. LTD. bought a new stake in shares of Fox Co. (NASDAQ:FOXA) in the third quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund bought 9,030 shares of the company’s stock, valued at approximately $382,000.

Several other hedge funds also recently added to or reduced their stakes in FOXA. Massmutual Trust Co. FSB ADV grew its holdings in FOX by 176.6% during the second quarter. Massmutual Trust Co. FSB ADV now owns 722 shares of the company’s stock worth $25,000 after acquiring an additional 461 shares during the period. Friedenthal Financial acquired a new stake in shares of FOX during the 2nd quarter worth approximately $51,000. Duncker Streett & Co. Inc. purchased a new position in shares of FOX during the 2nd quarter valued at approximately $52,000. Meeder Asset Management Inc. acquired a new position in shares of FOX in the 1st quarter valued at $66,000. Finally, Covestor Ltd boosted its holdings in FOX by 283.0% during the first quarter. Covestor Ltd now owns 2,880 shares of the company’s stock worth $90,000 after buying an additional 2,128 shares in the last quarter. 52.52% of the stock is owned by hedge funds and other institutional investors.

FOX Price Performance

FOXA stock traded up $0.20 during mid-day trading on Monday, reaching $41.91. The company’s stock had a trading volume of 271,201 shares, compared to its average volume of 2,943,453. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company’s 50 day moving average is $41.19 and its two-hundred day moving average is $36.84. Fox Co. has a fifty-two week low of $28.28 and a fifty-two week high of $42.85. The stock has a market cap of $19.56 billion, a PE ratio of 13.42, a P/E/G ratio of 1.92 and a beta of 0.76.

FOX (NASDAQ:FOXA) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.83 by $0.07. The firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. The business’s revenue for the quarter was up 2.0% on a year-over-year basis. During the same quarter last year, the firm earned $0.88 earnings per share. Equities research analysts expect that Fox Co. will post 3.69 EPS for the current year.

FOX Increases Dividend

The business also recently declared a Semi-Annual dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were issued a dividend of $0.27 per share. This represents a dividend yield of 1.4%. The ex-dividend date was Wednesday, September 4th. This is a positive change from FOX’s previous Semi-Annual dividend of $0.26. FOX’s payout ratio is currently 16.93%.

Analysts Set New Price Targets

A number of brokerages have weighed in on FOXA. Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Loop Capital upped their price target on FOX from $43.00 to $46.00 and gave the stock a “buy” rating in a report on Tuesday, October 8th. Guggenheim raised their price objective on FOX from $44.00 to $45.00 and gave the company a “buy” rating in a report on Tuesday, September 24th. Evercore ISI upped their target price on FOX from $33.00 to $38.00 and gave the stock an “in-line” rating in a research note on Wednesday, August 7th. Finally, The Goldman Sachs Group lifted their price target on shares of FOX from $42.00 to $44.00 and gave the company a “buy” rating in a research note on Wednesday, August 7th. One analyst has rated the stock with a sell rating, eight have given a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat, the stock has a consensus rating of “Hold” and a consensus target price of $41.08.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The trade was a 0.00 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the transaction, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The trade was a 0.00 % increase in their position. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The disclosure for this sale can be found here. 21.77% of the stock is currently owned by insiders.

FOX 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.