Fox Co. (NASDAQ:FOX) Position Trimmed by Legal & General Group Plc

Legal & General Group Plc decreased its holdings in Fox Co. (NASDAQ:FOX) by 26.1% during the 4th quarter, HoldingsChannel reports. The institutional investor owned 788,106 shares of the company’s stock after selling 278,592 shares during the quarter. Legal & General Group Plc’s holdings in FOX were worth $36,048,000 at the end of the most recent reporting period.

Other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new position in shares of FOX in the 4th quarter worth $138,822,000. Contrarius Group Holdings Ltd acquired a new position in shares of FOX in the 4th quarter valued at $57,766,000. Assenagon Asset Management S.A. increased its stake in FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after purchasing an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in FOX during the 4th quarter worth about $48,606,000. Finally, Amundi lifted its stake in FOX by 83.0% during the fourth quarter. Amundi now owns 1,549,002 shares of the company’s stock valued at $72,199,000 after buying an additional 702,561 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Insider Transactions at FOX

In other FOX news, 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 transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is available through the SEC website. 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 value of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at approximately $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. Company insiders own 23.06% of the company’s stock.

Analysts Set New Price Targets

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

FOX Stock Down 0.8 %

Shares of FOX stock opened at $45.65 on Friday. The company has a market cap of $20.70 billion, a P/E ratio of 9.78, a P/E/G ratio of 1.55 and a beta of 0.58. Fox Co. has a 1 year low of $27.63 and a 1 year high of $55.00. 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 50-day moving average price of $50.30 and a 200 day moving average price of $45.77.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 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 quarter in the prior year, the firm earned $0.34 EPS. As a group, analysts expect that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.37%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 11.56%.

FOX Company 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.