Sumitomo Mitsui DS Asset Management Company Ltd Boosts Stake in Fox Co. (NASDAQ:FOX)

Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in Fox Co. (NASDAQ:FOX) by 4.4% during the 3rd quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund owned 10,742 shares of the company’s stock after purchasing an additional 457 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in FOX were worth $417,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds have also modified their holdings of the business. Blue Trust Inc. lifted its position in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after buying an additional 1,232 shares during the last quarter. Friedenthal Financial acquired a new position in shares of FOX in the 2nd quarter worth approximately $51,000. Central Pacific Bank Trust Division purchased a new position in shares of FOX during the 1st quarter worth approximately $97,000. GAMMA Investing LLC raised its position in FOX by 267.9% in the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after purchasing an additional 2,569 shares during the period. Finally, Covestor Ltd lifted its stake in FOX by 280.5% during the first quarter. Covestor Ltd now owns 3,995 shares of the company’s stock worth $114,000 after purchasing an additional 2,945 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Activity

In other news, CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at $42,044,457.42. The trade was a 0.00 % increase in their ownership of the stock. The acquisition was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this link. In other FOX news, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was bought at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. This represents a 0.00 % increase in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value 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 approximately $9,717,559.04. This represents a 0.00 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 19.21% of the company’s stock.

FOX Price Performance

FOX stock opened at $38.70 on Wednesday. The company’s 50 day moving average is $37.91 and its two-hundred day moving average is $33.93. The firm has a market cap of $18.06 billion, a PE ratio of 12.13, a price-to-earnings-growth ratio of 2.01 and a beta of 0.81. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. Fox Co. has a 52-week low of $25.82 and a 52-week high of $39.32.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion for 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%. During the same period last year, the firm earned $0.88 earnings per share. On average, research analysts expect that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th were paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.79%. The ex-dividend date was Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Analysts Set New Price Targets

Several equities research analysts recently issued reports on FOX shares. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th.

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.