Handelsbanken Fonder AB Purchases New Stake in Fox Co. (NASDAQ:FOX)

Handelsbanken Fonder AB acquired a new stake in Fox Co. (NASDAQ:FOX - Free Report) during the fourth quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The firm acquired 23,384 shares of the company's stock, valued at approximately $1,070,000.

A number of other hedge funds have also added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. bought a new position in shares of FOX in the 4th quarter valued at $29,000. Glenmede Trust Co. NA boosted its stake in shares of FOX by 136.9% during 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 in the last quarter. Principal Securities Inc. grew its holdings in shares of FOX by 51.5% during the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock worth $49,000 after purchasing an additional 362 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of FOX during the third quarter worth about $74,000. Finally, Thrivent Financial for Lutherans bought a new position in FOX in the 3rd quarter valued at approximately $201,000. 26.41% of the stock is owned by institutional investors.

FOX Trading Down 1.1 %

Shares of FOX traded down $0.62 during mid-day trading on Monday, reaching $53.45. 1,190,404 shares of the company were exchanged, compared to its average volume of 1,163,790. The business has a 50 day simple moving average of $48.81 and a two-hundred day simple moving average of $43.26. 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 stock has a market capitalization of $24.24 billion, a PE ratio of 11.45, a PEG ratio of 1.55 and a beta of 0.82. Fox Co. has a 52 week low of $25.82 and a 52 week high of $55.00.

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FOX (NASDAQ:FOX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) 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 last year, the business posted $0.34 earnings per share. On average, analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.02%. FOX's payout ratio is currently 11.56%.

Wall Street Analyst Weigh In

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

Insider Transactions at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm's 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 owns 29,897 shares of the company's stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company's stock.

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.