Adam G. Ciongoli Sells 1,278 Shares of Fox Co. (NASDAQ:FOX) Stock

Fox Co. (NASDAQ:FOX) insider Adam G. Ciongoli sold 1,278 shares of the company’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 directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through the SEC website.

FOX Price Performance

Shares of FOX stock opened at $51.27 on Thursday. The firm has a market cap of $23.42 billion, a P/E ratio of 12.54, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The firm’s 50-day simple moving average is $46.10 and its 200-day simple moving average is $41.13. Fox Co. has a twelve month low of $25.82 and a twelve month high of $52.54. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating analysts’ consensus estimates of $0.61 by $0.35. FOX had a return on equity of 16.49% and a net margin of 13.40%. During the same quarter in the prior year, the business earned $0.34 EPS. As a group, research analysts expect that Fox Co. will post 3.91 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.11%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 13.20%.

Hedge Funds Weigh In On FOX

Institutional investors and hedge funds have recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX during the fourth quarter worth $29,000. Glenmede Trust Co. NA lifted its position in FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares in the last quarter. Principal Securities Inc. grew its holdings 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 during the last quarter. Intact Investment Management Inc. acquired a new stake in FOX in the 3rd quarter valued at about $74,000. Finally, Exchange Traded Concepts LLC bought a new position in shares of FOX in the third quarter worth about $128,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Analysts Set New Price Targets

FOX has been the topic of several research reports. Barclays upgraded FOX to a “hold” rating in a research note on Wednesday, October 9th. Moffett Nathanson lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Tuesday, January 21st.

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.