Norges Bank Buys New Shares in Fox Co. (NASDAQ:FOX)

Norges Bank purchased a new stake in shares of Fox Co. (NASDAQ:FOX) during the 4th quarter, Holdings Channel reports. The institutional investor purchased 3,035,032 shares of the company’s stock, valued at approximately $138,822,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Contrarius Group Holdings Ltd acquired a new stake in shares of FOX during the 4th quarter worth approximately $57,766,000. Assenagon Asset Management S.A. lifted its position in FOX by 58.4% in the fourth 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 during the period. Wedge Capital Management L L P NC acquired a new stake in FOX during the fourth quarter worth $48,606,000. National Bank of Canada FI increased its holdings in FOX by 212.7% in the 3rd quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after buying an additional 977,907 shares during the period. Finally, Amundi raised its stake in shares of FOX by 83.0% in the 4th 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. 26.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FOX

In related news, 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 owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

Analyst Upgrades and Downgrades

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 Trading Up 4.3 %

FOX stock opened at $52.71 on Tuesday. 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 firm has a market cap of $23.90 billion, a P/E ratio of 11.29, a P/E/G ratio of 1.55 and a beta of 0.74. Fox Co. has a 1-year low of $27.63 and a 1-year high of $55.00. The business’s 50 day moving average is $50.44 and its 200-day moving average is $45.15.

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

FOX Announces Dividend

The company also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a yield of 2.05%. The ex-dividend date was Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

FOX 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.