Fayez Sarofim & Co Lowers Stock Position in Fox Co. (NASDAQ:FOX)

Fayez Sarofim & Co lowered its position in Fox Co. (NASDAQ:FOX) by 26.7% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 57,242 shares of the company’s stock after selling 20,833 shares during the quarter. Fayez Sarofim & Co’s holdings in FOX were worth $2,618,000 as of its most recent filing with the Securities and Exchange Commission.

A number of other institutional investors have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in FOX in the 4th quarter valued at $29,000. CIBC Private Wealth Group LLC raised its holdings in shares of FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock valued at $42,000 after buying an additional 522 shares during the period. Principal Securities Inc. lifted its position in FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after acquiring an additional 362 shares in the last quarter. O Shaughnessy Asset Management LLC boosted its holdings in FOX by 82.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock worth $61,000 after acquiring an additional 608 shares during the period. Finally, Westpac Banking Corp grew its position in FOX by 84.0% in the fourth quarter. Westpac Banking Corp now owns 1,625 shares of the company’s stock valued at $74,000 after acquiring an additional 742 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through this hyperlink. Also, 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 position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

FOX Trading Down 1.4 %

Shares of FOX opened at $43.95 on Tuesday. Fox Co. has a one year low of $28.51 and a one year high of $55.00. The stock has a 50-day moving average price of $49.62 and a 200 day moving average price of $46.08. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The company has a market capitalization of $19.93 billion, a P/E ratio of 9.41, a P/E/G ratio of 1.55 and a beta of 0.58.

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

FOX Dividend Announcement

The business also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. 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 payout ratio is currently 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.