Forum Financial Management LP acquired a new stake in shares of Fox Co. (NASDAQ:FOX - Free Report) during the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund acquired 6,962 shares of the company's stock, valued at approximately $318,000.
Other hedge funds and other institutional investors have also made changes to their positions in the company. Barclays PLC increased its stake in FOX by 3.6% in the third quarter. Barclays PLC now owns 540,789 shares of the company's stock worth $20,982,000 after purchasing an additional 18,802 shares during the period. Synergy Asset Management LLC increased its stake in FOX by 73.2% in the 4th quarter. Synergy Asset Management LLC now owns 61,166 shares of the company's stock worth $2,566,000 after buying an additional 25,846 shares during the period. CMC Financial Group bought a new stake in FOX during the 4th quarter valued at about $243,000. Raymond James Financial Inc. purchased a new stake in FOX in the 4th quarter valued at about $1,295,000. Finally, Exchange Traded Concepts LLC grew its stake in FOX by 1,622.8% in the 4th quarter. Exchange Traded Concepts LLC now owns 56,750 shares of the company's stock worth $2,596,000 after acquiring an additional 53,456 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.
Wall Street Analysts Forecast Growth
Separately, Moffett Nathanson lowered FOX from a "strong-buy" rating to a "hold" rating in a report on Tuesday, January 21st.
Check Out Our Latest Stock Report on FOX
FOX Stock Up 0.1 %
Shares of FOX stock traded up $0.05 during trading on Friday, hitting $45.79. 789,404 shares of the stock traded hands, compared to its average volume of 1,249,649. Fox Co. has a 52-week low of $28.51 and a 52-week high of $55.00. The stock's fifty day simple moving average is $49.19 and its 200 day simple moving average is $46.12. The firm has a market cap of $20.76 billion, a P/E ratio of 9.81, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. 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 (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings results 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 period in the previous year, the firm posted $0.34 earnings per share. On average, equities analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.
FOX Announces Dividend
The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX's payout ratio is 11.56%.
Insider Buying and Selling
In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred 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 owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This 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 link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm'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 in the company, valued at approximately $1,618,324.61. This trade 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 currently owned by company insiders.
About FOX
(
Free Report)
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.
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