DnB Asset Management AS Raises Holdings in Fox Co. (NASDAQ:FOX)

DnB Asset Management AS boosted its stake in shares of Fox Co. (NASDAQ:FOX) by 28.2% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The institutional investor owned 29,437 shares of the company’s stock after acquiring an additional 6,479 shares during the quarter. DnB Asset Management AS’s holdings in FOX were worth $1,346,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new stake in shares of FOX during the 4th quarter worth approximately $29,000. Glenmede Trust Co. NA increased its holdings in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares in the last quarter. Principal Securities Inc. raised its position in shares of FOX by 51.5% in the fourth 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 period. Ieq Capital LLC acquired a new position in shares of FOX in the fourth quarter worth about $211,000. Finally, Empirical Finance LLC acquired a new stake in shares of FOX during the 4th quarter valued at about $214,000. 26.41% of the stock is owned by institutional investors and hedge funds.

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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on 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 completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOX opened at $51.77 on Wednesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a fifty day moving average of $50.57 and a 200 day moving average of $45.26. The firm has a market cap of $23.47 billion, a PE ratio of 11.09, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a one year low of $27.63 and a one year high of $55.00.

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

FOX Dividend Announcement

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. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.09%. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Analyst Upgrades and Downgrades

Separately, Moffett Nathanson cut 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.