Fox Co. (NASDAQ:FOX) Shares Sold by NFJ Investment Group LLC

NFJ Investment Group LLC lowered its position in Fox Co. (NASDAQ:FOX) by 16.1% during the fourth quarter, HoldingsChannel.com reports. The fund owned 84,320 shares of the company’s stock after selling 16,224 shares during the quarter. NFJ Investment Group LLC’s holdings in FOX were worth $3,857,000 at the end of the most recent reporting period.

Several other hedge funds have also recently bought and sold shares of FOX. Norges Bank purchased a new stake in FOX during the fourth quarter worth $138,822,000. Contrarius Group Holdings Ltd purchased a new stake in shares of FOX in the 4th quarter worth about $57,766,000. Assenagon Asset Management S.A. grew 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 valued at $135,890,000 after acquiring an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC purchased a new position in FOX during the 4th quarter valued at about $48,606,000. Finally, Independent Franchise Partners LLP raised its position in 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 acquiring an additional 759,874 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other 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 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 represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred 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 completion of 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 disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

FOX Stock Performance

NASDAQ FOX opened at $44.70 on Thursday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a fifty-two week low of $27.84 and a fifty-two week high of $55.00. The business has a fifty day moving average of $50.01 and a 200-day moving average of $45.86. The stock has a market cap of $20.27 billion, a price-to-earnings ratio of 9.57, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 business posted $0.34 earnings per share. As a group, analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors 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 2.42%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX’s payout ratio is 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.