Daiwa Securities Group Inc. Makes New Investment in Fox Corp (NASDAQ:FOXA)

Daiwa Securities Group Inc. bought a new position in Fox Corp (NASDAQ:FOXA) in the third quarter, HoldingsChannel.com reports. The fund bought 14,476 shares of the company’s stock, valued at approximately $457,000.

A number of other large investors also recently bought and sold shares of FOXA. Macquarie Group Ltd. bought a new stake in FOX in the 2nd quarter worth approximately $29,000. M&R Capital Management Inc. bought a new stake in FOX in the 3rd quarter worth approximately $2,751,000. State of Alaska Department of Revenue bought a new stake in FOX in the 3rd quarter worth approximately $4,902,000. Fulton Bank N.A. bought a new stake in FOX in the 3rd quarter worth approximately $327,000. Finally, First Hawaiian Bank bought a new stake in FOX in the 3rd quarter worth approximately $526,000. 56.28% of the stock is owned by institutional investors and hedge funds.

A number of equities research analysts have commented on the stock. Wells Fargo & Co lifted their target price on shares of FOX from $30.00 to $32.00 and gave the stock an “underperform” rating in a research report on Thursday, November 7th. Evercore ISI reaffirmed a “buy” rating and issued a $45.00 target price on shares of FOX in a research report on Thursday, August 8th. Citigroup cut their target price on shares of FOX from $40.00 to $38.00 and set a “neutral” rating for the company in a research report on Wednesday, September 11th. Needham & Company LLC reaffirmed a “hold” rating on shares of FOX in a research report on Thursday, November 7th. Finally, Macquarie downgraded shares of FOX from a “neutral” rating to an “underperform” rating and cut their target price for the stock from $35.00 to $30.00 in a research report on Monday, September 9th. Seven research analysts have rated the stock with a sell rating, eight have issued a hold rating and ten have given a buy rating to the stock. The stock currently has an average rating of “Hold” and an average price target of $41.89.

Shares of FOXA stock opened at $34.22 on Friday. Fox Corp has a 1 year low of $29.69 and a 1 year high of $41.95. The firm has a fifty day moving average price of $32.19 and a 200-day moving average price of $34.72. The company has a debt-to-equity ratio of 0.65, a current ratio of 3.73 and a quick ratio of 2.96. The company has a market cap of $21.72 billion and a price-to-earnings ratio of 13.01.

FOX (NASDAQ:FOXA) last issued its earnings results on Wednesday, November 6th. The company reported $0.83 earnings per share for the quarter, topping the consensus estimate of $0.69 by $0.14. The company had revenue of $2.67 billion during the quarter, compared to the consensus estimate of $2.60 billion. FOX had a net margin of 12.94% and a return on equity of 14.30%. FOX’s quarterly revenue was up 5.1% compared to the same quarter last year. During the same quarter in the prior year, the firm posted $0.52 EPS. Equities research analysts expect that Fox Corp will post 2.41 EPS for the current year.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.

Recommended Story: What does earnings per share mean?

Want to see what other hedge funds are holding FOXA? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corp (NASDAQ:FOXA).

Institutional Ownership by Quarter for FOX (NASDAQ:FOXA)

Receive News & Ratings for FOX Daily - Enter your email address below to receive a concise daily summary of the latest news and analysts' ratings for FOX and related companies with MarketBeat.com's FREE daily email newsletter.



Comments


share news on Facebook
tweet this investment news
share on linkedin
share on StockTwits
share on reddit