Contrarius Group Holdings Ltd Takes $57.77 Million Position in Fox Co. (NASDAQ:FOX)

Contrarius Group Holdings Ltd acquired a new stake in shares of Fox Co. (NASDAQ:FOX) in the fourth quarter, Holdings Channel.com reports. The institutional investor acquired 1,262,911 shares of the company’s stock, valued at approximately $57,766,000. FOX makes up about 3.5% of Contrarius Group Holdings Ltd’s portfolio, making the stock its 12th largest holding.

A number of other hedge funds have also recently made changes to their positions in the business. Yousif Capital Management LLC boosted its holdings in FOX by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock worth $874,000 after purchasing an additional 212 shares during the last quarter. Victory Capital Management Inc. boosted its holdings in FOX by 0.6% during the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock worth $1,810,000 after purchasing an additional 300 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in FOX by 5.4% during the fourth quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company’s stock worth $311,000 after purchasing an additional 350 shares during the last quarter. Principal Securities Inc. boosted its holdings in FOX by 51.5% during the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after purchasing an additional 362 shares during the last quarter. Finally, Glenmede Trust Co. NA boosted its holdings in FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Insider Activity

In other news, 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 value of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

FOX Stock Up 1.3 %

FOX opened at $49.08 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. The stock has a market cap of $22.25 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a twelve month low of $26.92 and a twelve month high of $55.00. The company’s 50-day moving average price is $49.72 and its two-hundred day moving average price is $44.35.

FOX (NASDAQ:FOX) last released its earnings results 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 net margin of 14.39% and a return on equity of 18.50%. During the same period in the previous year, the business earned $0.34 EPS. As a group, equities analysts expect that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Analyst Upgrades and Downgrades

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

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.