Bank of New York Mellon Corp Buys 178,773 Shares of Fox Co. (NASDAQ:FOX)

Bank of New York Mellon Corp grew its holdings in shares of Fox Co. (NASDAQ:FOX - Free Report) by 19.2% during the fourth quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,110,115 shares of the company's stock after purchasing an additional 178,773 shares during the period. Bank of New York Mellon Corp owned 0.24% of FOX worth $50,777,000 as of its most recent SEC filing.

A number of other large investors also recently modified their holdings of FOX. Assenagon Asset Management S.A. grew its stake in FOX by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company's stock worth $135,890,000 after buying an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in shares of FOX during the fourth quarter valued at $48,606,000. National Bank of Canada FI grew its position in shares of FOX by 212.7% during the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company's stock worth $55,780,000 after acquiring an additional 977,907 shares during the last quarter. State Street Corp increased its holdings in shares of FOX by 7.5% in the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company's stock worth $374,008,000 after acquiring an additional 671,511 shares during the period. Finally, Healthcare of Ontario Pension Plan Trust Fund lifted its position in FOX by 448.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company's stock valued at $27,661,000 after purchasing an additional 582,900 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

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Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, 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 transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm's stock in a transaction dated 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 sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % 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.

FOX Price Performance

FOX stock traded up $0.10 during trading on Friday, hitting $51.60. The company had a trading volume of 1,157,672 shares, compared to its average volume of 1,174,497. The business has a 50 day moving average of $49.35 and a 200 day moving average of $43.72. The firm has a market capitalization of $23.40 billion, a price-to-earnings ratio of 11.05, a P/E/G ratio of 1.55 and a beta of 0.82. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a fifty-two week low of $26.10 and a fifty-two week high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings data 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 in the previous year, the firm earned $0.34 earnings per share. As a group, research analysts predict that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.09%. FOX's dividend payout ratio is currently 11.56%.

Analyst Ratings Changes

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

FOX Company 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.