American Century Companies Inc. Cuts Stake in Fox Co. (NASDAQ:FOX)

American Century Companies Inc. cut its holdings in Fox Co. (NASDAQ:FOX) by 9.2% during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 947,509 shares of the company’s stock after selling 95,595 shares during the period. American Century Companies Inc.’s holdings in FOX were worth $43,339,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also added to or reduced their stakes in the company. Thrivent Financial for Lutherans purchased a new stake in FOX in the 3rd quarter worth $201,000. Intech Investment Management LLC purchased a new stake in shares of FOX in the third quarter worth about $323,000. Charles Schwab Investment Management Inc. boosted its stake in FOX by 15.0% during the third quarter. Charles Schwab Investment Management Inc. now owns 34,930 shares of the company’s stock valued at $1,355,000 after buying an additional 4,565 shares during the last quarter. Swedbank AB grew its holdings in FOX by 3.5% during the 3rd quarter. Swedbank AB now owns 150,849 shares of the company’s stock valued at $5,853,000 after buying an additional 5,138 shares in the last quarter. Finally, Daiwa Securities Group Inc. increased its stake in FOX by 7.5% in the 3rd quarter. Daiwa Securities Group Inc. now owns 20,125 shares of the company’s stock worth $781,000 after acquiring an additional 1,405 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

FOX Stock Performance

FOX stock opened at $50.73 on Friday. 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 twelve month low of $27.63 and a twelve month high of $55.00. The company’s 50-day moving average price is $50.21 and its 200-day moving average price is $44.82. The company has a market cap of $23.00 billion, a PE ratio of 10.86, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates 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 prior year, the firm earned $0.34 EPS. On average, equities research analysts forecast that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.13%. The ex-dividend date was Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % 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.

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.