ABC Arbitrage SA Invests $247,000 in Fox Co. (NASDAQ:FOX)

ABC Arbitrage SA purchased a new stake in Fox Co. (NASDAQ:FOX - Free Report) during the fourth quarter, according to its most recent filing with the SEC. The firm purchased 5,407 shares of the company's stock, valued at approximately $247,000.

Several other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX during the fourth quarter worth $29,000. Glenmede Trust Co. NA lifted its stake 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. Intact Investment Management Inc. bought a new stake in FOX in the 3rd quarter valued at $74,000. Exchange Traded Concepts LLC acquired a new stake in shares of FOX in the 3rd quarter valued at about $128,000. Finally, Thrivent Financial for Lutherans bought a new stake in FOX in the 3rd quarter valued at approximately $201,000. Institutional investors own 26.41% of the company's stock.

Analysts Set New Price Targets

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

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the company'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 completion of 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 disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

FOX Stock Up 1.6 %

Shares of NASDAQ:FOX traded up $0.86 during midday trading on Wednesday, hitting $53.61. The stock had a trading volume of 1,942,638 shares, compared to its average volume of 1,115,476. 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 business's 50-day simple moving average is $47.52 and its 200-day simple moving average is $42.29. Fox Co. has a 12 month low of $25.82 and a 12 month high of $53.95. The company has a market cap of $24.31 billion, a P/E ratio of 11.48, a PEG ratio of 1.53 and a beta of 0.82.

FOX (NASDAQ:FOX - Get Free Report) last posted 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 firm posted $0.34 EPS. On average, sell-side analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.01%. FOX's dividend payout ratio (DPR) is presently 11.56%.

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.