Renaissance Technologies LLC Sells 243,000 Shares of Fox Co. (NASDAQ:FOX)

Renaissance Technologies LLC trimmed its position in shares of Fox Co. (NASDAQ:FOX - Free Report) by 82.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 51,100 shares of the company's stock after selling 243,000 shares during the quarter. Renaissance Technologies LLC's holdings in FOX were worth $2,337,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors have also recently made changes to their positions in FOX. Vanguard Group Inc. boosted its stake in FOX by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company's stock valued at $655,738,000 after acquiring an additional 425,868 shares during the last quarter. Geode Capital Management LLC grew its holdings in FOX by 3.7% during the fourth quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company's stock valued at $147,122,000 after purchasing an additional 114,442 shares during the period. Norges Bank purchased a new stake in FOX in the fourth quarter worth $138,822,000. Assenagon Asset Management S.A. raised its stake in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company's stock valued at $135,890,000 after buying an additional 1,095,073 shares during the period. Finally, Amundi lifted its position in shares of FOX by 83.0% during the 4th quarter. Amundi now owns 1,549,002 shares of the company's stock valued at $72,199,000 after buying an additional 702,561 shares during the last quarter. Institutional investors own 26.41% of the company's stock.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now 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 transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company's 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 approximately $63,849,832.54. The trade was a 4.61 % 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 Stock Performance

Shares of NASDAQ FOX traded up $0.13 during mid-day trading on Monday, hitting $45.92. The company had a trading volume of 1,065,010 shares, compared to its average volume of 1,247,312. 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 1 year low of $28.51 and a 1 year high of $55.00. The company has a market capitalization of $20.82 billion, a price-to-earnings ratio of 9.83, a P/E/G ratio of 1.55 and a beta of 0.58. The stock's 50-day moving average price is $48.90 and its 200-day moving average price is $46.33.

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, beating the consensus estimate of $0.61 by $0.35. FOX had a return on equity of 18.50% and a net margin of 14.39%. During the same quarter in the previous year, the firm earned $0.34 EPS. On average, sell-side analysts forecast 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 was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.35%. The ex-dividend date of this dividend was Wednesday, March 5th. FOX's payout ratio is 11.56%.

Wall Street Analyst Weigh In

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

FOX 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.