Forum Financial Management LP Makes New Investment in Fox Co. (NASDAQ:FOX)

Forum Financial Management LP bought a new stake in Fox Co. (NASDAQ:FOX) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund bought 6,962 shares of the company’s stock, valued at approximately $318,000.

A number of other large investors have also recently made changes to their positions in the company. Norges Bank purchased a new position in shares of FOX during the fourth quarter worth about $138,822,000. Contrarius Group Holdings Ltd purchased a new position in shares of FOX in the 4th quarter valued at approximately $57,766,000. Assenagon Asset Management S.A. increased its holdings in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after purchasing an additional 1,095,073 shares during the period. Wedge Capital Management L L P NC purchased a new stake in shares of FOX during the fourth quarter worth approximately $48,606,000. Finally, Independent Franchise Partners LLP lifted its holdings in shares of FOX by 15.4% during the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company’s stock worth $261,010,000 after purchasing an additional 759,874 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated 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 sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

Separately, Moffett Nathanson lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st.

FOX Trading Down 1.4 %

Shares of FOX stock opened at $43.95 on Tuesday. The business’s fifty day moving average price is $49.62 and its 200 day moving average price is $46.08. The firm has a market capitalization of $19.93 billion, a PE ratio of 9.41, a P/E/G ratio of 1.55 and a beta of 0.58. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1-year low of $28.51 and a 1-year high of $55.00.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.61 by $0.35. FOX had a net margin of 14.39% and a return on equity of 18.50%. During the same period in the prior year, the firm posted $0.34 earnings per share. As a group, sell-side analysts forecast that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.46%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

About FOX

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.