31,883 Shares in Fox Corporation $FOXA Acquired by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd bought a new stake in shares of Fox Corporation (NASDAQ:FOXA) in the 3rd quarter, Holdings Channel.com reports. The institutional investor bought 31,883 shares of the company’s stock, valued at approximately $1,997,000.

A number of other institutional investors and hedge funds have also made changes to their positions in the stock. Counterpoint Mutual Funds LLC acquired a new stake in FOX in the third quarter worth $10,258,000. V Square Quantitative Management LLC boosted its holdings in shares of FOX by 11.5% during the third quarter. V Square Quantitative Management LLC now owns 7,305 shares of the company’s stock valued at $458,000 after acquiring an additional 755 shares during the period. State of Alaska Department of Revenue acquired a new position in shares of FOX during the third quarter valued at $1,183,000. Mather Group LLC. bought a new position in shares of FOX during the third quarter worth about $532,000. Finally, Forvis Mazars Wealth Advisors LLC bought a new position in shares of FOX during the third quarter worth about $222,000. 52.52% of the stock is currently owned by institutional investors and hedge funds.

Insider Buying and Selling at FOX

In related news, CEO Lachlan Murdoch purchased 149,934 shares of the company’s stock in a transaction that occurred on Tuesday, September 15th. The shares were purchased at an average price of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer owned 1,401,713 shares of the company’s stock, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a document filed with the SEC, which is available at the SEC website. 20.89% of the stock is owned by company insiders.

FOX Price Performance

NASDAQ FOXA traded down $1.67 on Friday, reaching $66.60. 5,811,397 shares of the stock traded hands, compared to its average volume of 4,230,744. The firm’s fifty day simple moving average is $65.46 and its 200 day simple moving average is $62.21. The company has a quick ratio of 2.99, a current ratio of 3.17 and a debt-to-equity ratio of 0.56. The company has a market cap of $27.95 billion, a price-to-earnings ratio of 17.39, a P/E/G ratio of 1.19 and a beta of 0.60. Fox Corporation has a 12 month low of $48.34 and a 12 month high of $76.39.

FOX (NASDAQ:FOXA) last posted its quarterly earnings data on Thursday, August 6th. The company reported $1.79 EPS for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The company had revenue of $4.21 billion for the quarter, compared to the consensus estimate of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. The company’s quarterly revenue was up 28.1% compared to the same quarter last year. During the same quarter in the previous year, the business earned $1.27 EPS. As a group, research analysts predict that Fox Corporation will post 6.06 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a dividend, which was paid on Wednesday, September 23rd. Stockholders of record on Wednesday, September 2nd were paid a dividend of $0.29 per share. The ex-dividend date of this dividend was Wednesday, September 2nd. This represents a dividend yield of 86.0%. FOX’s dividend payout ratio (DPR) is currently 15.14%.

Analyst Ratings Changes

A number of analysts recently weighed in on FOXA shares. KeyCorp cut shares of FOX to a “sector weight” rating in a report on Friday, October 16th. Citigroup initiated coverage on shares of FOX in a research report on Monday, September 14th. They issued an “outperform” rating for the company. Raymond James Financial upgraded shares of FOX to a “strong-buy” rating in a research report on Friday, October 16th. Seaport Research Partners cut FOX from a “buy” rating to a “neutral” rating in a report on Friday, August 7th. Finally, Weiss Ratings raised FOX from a “hold (c+)” rating to a “buy (b-)” rating in a report on Tuesday, September 29th. Two analysts have rated the stock with a Strong Buy rating, thirteen have issued a Buy rating and nine have given a Hold rating to the company’s stock. According to data from MarketBeat.com, the company has an average rating of “Moderate Buy” and a consensus target price of $78.12.

About FOX

Fox Corporation (NASDAQ: FOXA) is a U.S. media and entertainment company that produces and distributes news, sports, and entertainment programming. Its portfolio includes FOX News Media, FOX Sports, FOX Entertainment, FOX Television Stations, and the ad-supported streaming service Tubi.

FOX News Media operates FOX News Channel, FOX Business Network, and related digital platforms. FOX Sports provides national and regional sports programming, while FOX Entertainment develops and distributes scripted and unscripted television content.