31,007 Fox Corporation $FOX Shares Sold by Sumitomo Mitsui DS Asset Management Company Ltd

Sumitomo Mitsui DS Asset Management Company Ltd cut its stake in shares of Fox Corporation (NASDAQ:FOX) by 58.5% in the 3rd quarter, according to the company in its most recent filing with the Securities & Exchange Commission. The fund owned 22,016 shares of the company’s stock after selling 31,007 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd’s holdings in FOX were worth $1,240,000 as of its most recent SEC filing.

Other hedge funds also recently added to or reduced their stakes in the company. Versant Capital Management Inc grew its stake in shares of FOX by 42.3% in the 2nd quarter. Versant Capital Management Inc now owns 844 shares of the company’s stock valued at $40,000 after purchasing an additional 251 shares during the last quarter. Integrated Wealth Concepts LLC purchased a new stake in shares of FOX during the second quarter worth approximately $70,000. Glenmede Trust Co. NA raised its stake in shares of FOX by 143.9% during the first quarter. Glenmede Trust Co. NA now owns 2,697 shares of the company’s stock worth $143,000 after purchasing an additional 1,591 shares during the last quarter. EverSource Wealth Advisors LLC raised its stake in shares of FOX by 27.6% during the first quarter. EverSource Wealth Advisors LLC now owns 2,838 shares of the company’s stock worth $151,000 after purchasing an additional 613 shares during the last quarter. Finally, CX Institutional lifted its holdings in shares of FOX by 54.4% during the third quarter. CX Institutional now owns 2,898 shares of the company’s stock worth $163,000 after purchasing an additional 1,021 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In related news, CEO Lachlan Murdoch purchased 149,934 shares of the stock in a transaction dated Tuesday, September 15th. The shares were acquired at an average cost of $68.53 per share, with a total value of $10,274,977.02. Following the purchase, the chief executive officer directly owned 1,401,713 shares in the company, valued at $96,059,391.89. This trade represents a 11.98% increase in their position. The acquisition was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

A number of research firms recently weighed in on FOX. Royal Bank Of Canada set a $95.00 price objective on shares of FOX in a research report on Tuesday. Wells Fargo & Company upgraded shares of FOX from a “hold” rating to an “overweight” rating and set a $80.00 target price for the company in a research note on Friday, August 14th. Fox Advisors restated a “market outperform” rating on shares of FOX in a research note on Tuesday. Wolfe Research set a $93.00 target price on shares of FOX in a report on Thursday, August 20th. Finally, Citizens Jmp upgraded shares of FOX to a “strong-buy” rating in a research note on Monday, September 14th. Three equities research analysts have rated the stock with a Strong Buy rating, eight have assigned a Buy rating and one has given a Sell rating to the company. According to MarketBeat, the stock presently has a consensus rating of “Buy” and an average target price of $78.40.

FOX Stock Down 2.2%

FOX opened at $59.46 on Friday. The company has a debt-to-equity ratio of 0.56, a current ratio of 3.17 and a quick ratio of 2.99. The business has a 50 day simple moving average of $58.48 and a 200-day simple moving average of $55.73. The stock has a market capitalization of $24.95 billion, a P/E ratio of 15.52, a P/E/G ratio of 1.51 and a beta of 0.63. Fox Corporation has a 12 month low of $44.08 and a 12 month high of $68.18.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Thursday, August 6th. The company reported $1.79 earnings per share for the quarter, topping analysts’ consensus estimates of $1.44 by $0.35. The firm had revenue of $4.21 billion for the quarter, compared to analyst estimates of $3.64 billion. FOX had a return on equity of 20.64% and a net margin of 9.84%. On average, equities analysts anticipate that Fox Corporation will post 6.23 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently announced a dividend, which was paid on Wednesday, September 23rd. Shareholders of record on Wednesday, September 2nd were given a dividend of $0.29 per share. This represents a dividend yield of 96.0%. The ex-dividend date was Wednesday, September 2nd. FOX’s payout ratio is presently 15.14%.

FOX Company Profile

Fox Corporation (NASDAQ: FOX) is a media and entertainment company formed in 2019 following the acquisition of most of 21st Century Fox’s entertainment assets by The Walt Disney Company. Fox operates a portfolio of news, sports, entertainment and local television businesses primarily serving audiences in the United States.

The company’s FOX News Media segment includes FOX News Channel, FOX Business Network, FOX News Digital and the FOX Nation streaming service. Its FOX Sports business provides live sports programming through the FOX broadcast network, FS1, FS2, FOX Deportes, the Big Ten Network and related digital platforms.