Fayez Sarofim & Co Lowers Position in Fox Co. (NASDAQ:FOX)

Fayez Sarofim & Co reduced its stake in Fox Co. (NASDAQ:FOX - Free Report) by 26.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 57,242 shares of the company's stock after selling 20,833 shares during the quarter. Fayez Sarofim & Co's holdings in FOX were worth $2,618,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX during the fourth quarter valued at $29,000. CIBC Private Wealth Group LLC boosted its holdings in shares of FOX by 135.6% in the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock worth $42,000 after buying an additional 522 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock worth $49,000 after buying an additional 362 shares during the last quarter. O Shaughnessy Asset Management LLC grew its position in FOX by 82.7% during the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after buying an additional 608 shares during the period. Finally, Westpac Banking Corp increased its holdings in FOX by 84.0% during the fourth quarter. Westpac Banking Corp now owns 1,625 shares of the company's stock valued at $74,000 after buying an additional 742 shares during 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 downgraded shares of FOX from a "strong-buy" rating to a "hold" rating in a research report on Tuesday, January 21st.

Insider Activity

In other news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction 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 trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company's stock.

FOX Price Performance

FOX stock traded up $0.05 during midday trading on Friday, reaching $45.79. 789,404 shares of the stock traded hands, compared to its average volume of 1,249,649. The stock has a market cap of $20.76 billion, a P/E ratio of 9.81, a PEG ratio of 1.55 and a beta of 0.58. The stock's fifty day moving average is $49.19 and its 200-day moving average is $46.12. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 12 month low of $28.51 and a 12 month high of $55.00.

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 earned $0.34 EPS. As a group, equities research analysts anticipate that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.36%. FOX's dividend payout ratio is currently 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.