Bank of Nova Scotia Has $30 Million Stock Position in Fox Co. (NASDAQ:FOX)

Bank of Nova Scotia reduced its position in Fox Co. (NASDAQ:FOX - Free Report) by 16.5% in the 4th quarter, according to its most recent filing with the SEC. The firm owned 655,941 shares of the company's stock after selling 129,399 shares during the period. Bank of Nova Scotia owned 0.14% of FOX worth $30,003,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds also recently made changes to their positions in FOX. Aristides Capital LLC grew its position in shares of FOX by 12.1% during the 4th quarter. Aristides Capital LLC now owns 14,921 shares of the company's stock worth $682,000 after buying an additional 1,610 shares during the period. Russell Investments Group Ltd. grew its holdings in FOX by 17.9% during the 4th quarter. Russell Investments Group Ltd. now owns 151,028 shares of the company's stock worth $6,921,000 after acquiring an additional 22,980 shares during the period. Resona Asset Management Co. Ltd. bought a new stake in shares of FOX during the 4th quarter valued at $2,599,000. Westpac Banking Corp lifted its stake in shares of FOX by 84.0% in the 4th quarter. Westpac Banking Corp now owns 1,625 shares of the company's stock valued at $74,000 after purchasing an additional 742 shares during the period. Finally, Groupama Asset Managment bought a new position in shares of FOX in the 4th quarter worth $1,027,000. Institutional investors own 26.41% of the company's stock.

FOX Trading Up 1.5 %

FOX stock traded up $0.67 during midday trading on Tuesday, hitting $46.71. 258,676 shares of the stock were exchanged, compared to its average volume of 1,262,524. Fox Co. has a 52 week low of $27.65 and a 52 week high of $55.00. 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 stock has a market capitalization of $21.18 billion, a PE ratio of 10.00, a P/E/G ratio of 1.55 and a beta of 0.58. The company has a fifty day simple moving average of $50.20 and a two-hundred day simple moving average of $45.87.

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FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly 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 posted $0.34 earnings per share. Equities research analysts anticipate that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.31%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX's dividend payout ratio is currently 11.56%.

Analysts Set New Price Targets

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

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 sale, the chairman now owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, 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 value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by company insiders.

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.