CMC Financial Group Acquires New Shares in Fox Co. (NASDAQ:FOX)

CMC Financial Group acquired a new position in Fox Co. (NASDAQ:FOX - Free Report) in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor acquired 5,307 shares of the company's stock, valued at approximately $243,000. FOX makes up approximately 0.5% of CMC Financial Group's investment portfolio, making the stock its 18th largest position.

Several other hedge funds have also recently bought and sold shares of the business. Yousif Capital Management LLC boosted its holdings in shares of FOX by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company's stock worth $874,000 after buying an additional 212 shares during the period. Victory Capital Management Inc. lifted its position in FOX by 0.6% during the 3rd quarter. Victory Capital Management Inc. now owns 46,645 shares of the company's stock worth $1,810,000 after acquiring an additional 300 shares during the last quarter. iA Global Asset Management Inc. boosted its holdings in FOX by 5.4% during the fourth quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company's stock valued at $311,000 after acquiring an additional 350 shares during the period. Principal Securities Inc. grew 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 valued at $49,000 after purchasing an additional 362 shares during the last quarter. Finally, Glenmede Trust Co. NA grew its position in shares of 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 purchasing an additional 449 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's stock in a transaction dated 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 transaction, the chairman now 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, 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 ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

Analysts Set New Price Targets

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

FOX Price Performance

Shares of FOX stock traded down $0.21 during mid-day trading on Friday, reaching $50.52. The company's stock had a trading volume of 849,055 shares, compared to its average volume of 1,180,128. 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's 50-day moving average is $50.30 and its two-hundred day moving average is $44.92. Fox Co. has a 1-year low of $27.63 and a 1-year high of $55.00. The company has a market cap of $22.91 billion, a P/E ratio of 10.82, a PEG ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 quarter in the previous year, the business earned $0.34 EPS. On average, research analysts predict that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The business also recently announced 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. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. FOX's payout ratio is 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.