Norges Bank Invests $138.82 Million in Fox Co. (NASDAQ:FOX)

Norges Bank purchased a new stake in Fox Co. (NASDAQ:FOX - Free Report) in the fourth quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund purchased 3,035,032 shares of the company's stock, valued at approximately $138,822,000. Norges Bank owned 0.66% of FOX as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other institutional investors also recently bought and sold shares of the business. Yousif Capital Management LLC raised its position in shares of FOX by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company's stock worth $874,000 after acquiring an additional 212 shares during the period. iA Global Asset Management Inc. boosted its stake in FOX by 5.4% during the fourth quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company's stock worth $311,000 after buying an additional 350 shares during the period. Principal Securities Inc. boosted its holdings in FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company's stock valued at $49,000 after acquiring an additional 362 shares during the period. Glenmede Trust Co. NA grew its stake in shares of FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company's stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. raised its holdings in FOX by 0.7% in the third quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company's stock valued at $2,981,000 after acquiring an additional 538 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

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Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm'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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $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 through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred 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 sale, the insider now directly owns 29,897 shares in the company, valued at $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 owned by corporate insiders.

FOX Stock Up 2.4 %

Shares of FOX traded up $1.23 during midday trading on Wednesday, reaching $53.00. 1,095,769 shares of the company were exchanged, compared to its average volume of 1,242,971. The company has a market cap of $24.03 billion, a price-to-earnings ratio of 11.35, a P/E/G 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. The stock has a 50-day moving average price of $50.57 and a 200-day moving average price of $45.26. Fox Co. has a 1-year low of $27.63 and a 1-year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 EPS 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 period in the previous year, the company posted $0.34 EPS. Research analysts expect that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The firm also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were paid a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.04%. FOX's 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.