Korea Investment CORP Buys 84,454 Shares of Fox Co. (NASDAQ:FOXA)

Korea Investment CORP increased its stake in shares of Fox Co. (NASDAQ:FOXA) by 100.6% during the 4th quarter, according to its most recent disclosure with the SEC. The institutional investor owned 168,364 shares of the company’s stock after acquiring an additional 84,454 shares during the period. Korea Investment CORP’s holdings in FOX were worth $8,179,000 as of its most recent filing with the SEC.

Other large investors have also recently bought and sold shares of the company. JPMorgan Chase & Co. boosted its holdings in shares of FOX by 10.9% in the 3rd quarter. JPMorgan Chase & Co. now owns 1,125,648 shares of the company’s stock valued at $47,649,000 after buying an additional 110,753 shares during the last quarter. Invst LLC acquired a new position in FOX during the third quarter worth approximately $740,000. Asset Management One Co. Ltd. lifted its position in shares of FOX by 25.0% in the fourth quarter. Asset Management One Co. Ltd. now owns 118,380 shares of the company’s stock valued at $5,856,000 after buying an additional 23,704 shares during the last quarter. Park Avenue Securities LLC boosted its stake in shares of FOX by 32.4% during the 4th quarter. Park Avenue Securities LLC now owns 15,481 shares of the company’s stock worth $752,000 after acquiring an additional 3,787 shares during the period. Finally, Brookstone Capital Management acquired a new position in shares of FOX during the 4th quarter worth approximately $492,000. 52.52% of the stock is owned by institutional investors and hedge funds.

FOX Price Performance

Shares of NASDAQ:FOXA opened at $56.60 on Tuesday. The firm has a 50 day moving average of $53.86 and a 200-day moving average of $48.22. Fox Co. has a 12 month low of $30.02 and a 12 month high of $58.74. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a market capitalization of $25.66 billion, a PE ratio of 12.12, a PEG ratio of 1.27 and a beta of 0.67.

FOX (NASDAQ:FOXA) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping the consensus estimate of $0.62 by $0.34. FOX had a return on equity of 18.50% and a net margin of 14.39%. The firm had revenue of $5.08 billion during the quarter, compared to analysts’ expectations of $4.78 billion. During the same period in the prior year, the company earned $0.34 earnings per share. The company’s quarterly revenue was up 19.9% on a year-over-year basis. On average, equities research analysts predict that Fox Co. will post 4.38 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently announced a semi-annual dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a yield of 1%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio is presently 11.56%.

Analyst Upgrades and Downgrades

A number of research firms have commented on FOXA. StockNews.com cut shares of FOX from a “buy” rating to a “hold” rating in a research report on Tuesday, December 17th. Bank of America upped their price target on shares of FOX from $50.00 to $55.00 and gave the company a “buy” rating in a research note on Wednesday, December 18th. Moffett Nathanson downgraded shares of FOX from a “buy” rating to a “neutral” rating and raised their price objective for the stock from $51.00 to $52.00 in a research report on Tuesday, January 21st. Barclays upped their target price on FOX from $39.00 to $50.00 and gave the company an “equal weight” rating in a research report on Wednesday, February 5th. Finally, Guggenheim reissued a “buy” rating and set a $60.00 price target on shares of FOX in a report on Tuesday, March 25th. One investment analyst has rated the stock with a sell rating, ten have issued a hold rating and eight have issued a buy rating to the company. Based on data from MarketBeat.com, the company presently has an average rating of “Hold” and an average price target of $51.13.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 21.77% of the company’s stock.

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.