Mirae Asset Global Investments Co. Ltd. Sells 9,927 Shares of Fox Co. (NASDAQ:FOXA)

Mirae Asset Global Investments Co. Ltd. decreased its position in Fox Co. (NASDAQ:FOXA) by 18.5% during the 4th quarter, according to its most recent filing with the 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 filing with the SEC.

A number of other large investors have also recently bought and sold shares of FOXA. Northern Trust Corp increased its position in shares of FOX by 67.8% during the 3rd quarter. Northern Trust Corp now owns 5,640,787 shares of the company’s stock worth $175,993,000 after purchasing an additional 2,279,923 shares during the last quarter. Great Lakes Advisors LLC raised its position in FOX by 39.9% during the third quarter. Great Lakes Advisors LLC now owns 2,414,239 shares of the company’s stock worth $75,324,000 after acquiring an additional 688,193 shares in the last quarter. Charles Schwab Investment Management Inc. grew its position in shares of FOX by 42.8% in the 3rd quarter. Charles Schwab Investment Management Inc. now owns 2,283,300 shares of the company’s stock valued at $71,239,000 after acquiring an additional 684,280 shares during the period. AustralianSuper Pty Ltd increased its stake in shares of FOX by 66.6% during the 4th quarter. AustralianSuper Pty Ltd now owns 1,581,909 shares of the company’s stock worth $46,935,000 after purchasing an additional 632,522 shares during the last quarter. Finally, Allspring Global Investments Holdings LLC raised its holdings in shares of FOX by 269.5% in the 3rd quarter. Allspring Global Investments Holdings LLC now owns 996,333 shares of the company’s stock valued at $31,086,000 after purchasing an additional 726,672 shares during the period. Institutional investors and hedge funds own 52.52% of the company’s stock.

Wall Street Analysts Forecast Growth

Several research analysts have recently commented on the company. Wolfe Research upgraded FOX from an “underperform” rating to a “peer perform” rating in a research note on Thursday, January 4th. Rosenblatt Securities reissued a “neutral” rating and issued a $34.00 price target on shares of FOX in a report on Monday, April 15th. Citigroup upgraded FOX from a “neutral” rating to a “buy” rating and boosted their price objective for the stock from $34.00 to $35.00 in a report on Friday, February 23rd. Wells Fargo & Company decreased their price objective on FOX from $30.00 to $28.00 and set an “underweight” rating on the stock in a report on Thursday, February 8th. Finally, Seaport Res Ptn upgraded shares of FOX from a “neutral” rating to a “buy” rating in a research note on Friday, April 5th. One research analyst has rated the stock with a sell rating, nine have issued a hold rating and two have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock presently has an average rating of “Hold” and an average target price of $33.40.

FOX Stock Performance

Shares of FOXA opened at $31.40 on Tuesday. The stock’s 50-day simple moving average is $30.22 and its 200 day simple moving average is $30.39. Fox Co. has a 52-week low of $28.28 and a 52-week high of $35.40. The stock has a market capitalization of $14.91 billion, a price-to-earnings ratio of 18.58, a price-to-earnings-growth ratio of 0.42 and a beta of 0.78. The company has a debt-to-equity ratio of 0.70, a quick ratio of 2.01 and a current ratio of 2.29.

FOX (NASDAQ:FOXA) last issued its quarterly earnings data on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, beating the consensus estimate of $0.10 by $0.24. FOX had a net margin of 5.75% and a return on equity of 15.81%. The company had revenue of $4.23 billion during the quarter, compared to analysts’ expectations of $4.21 billion. During the same quarter in the previous year, the company earned $0.48 earnings per share. FOX’s revenue for the quarter was down 8.1% on a year-over-year basis. Research analysts forecast that Fox Co. will post 3.19 EPS for the current fiscal year.

FOX Dividend Announcement

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

About FOX

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.