Sterling Capital Management LLC Increases Stock Position in Fox Co. (NASDAQ:FOX)

Sterling Capital Management LLC lifted its stake in shares of Fox Co. (NASDAQ:FOX - Free Report) by 676.0% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The firm owned 39,120 shares of the company's stock after purchasing an additional 34,079 shares during the quarter. Sterling Capital Management LLC's holdings in FOX were worth $1,789,000 as of its most recent SEC filing.

A number of other institutional investors have also added to or reduced their stakes in FOX. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX during the fourth quarter worth about $29,000. CIBC Private Wealth Group LLC grew its holdings in shares of FOX by 135.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company's stock worth $42,000 after purchasing an additional 522 shares in the last quarter. Principal Securities Inc. increased its position 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 purchasing an additional 362 shares during the last quarter. O Shaughnessy Asset Management LLC raised its stake in FOX by 82.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company's stock valued at $61,000 after purchasing an additional 608 shares in the last quarter. Finally, Westpac Banking Corp lifted its position 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 purchasing an additional 742 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

FOX Price Performance

NASDAQ:FOX traded down $0.13 during mid-day trading on Friday, reaching $44.57. The stock had a trading volume of 663,889 shares, compared to its average volume of 1,253,946. The stock has a market capitalization of $20.21 billion, a P/E ratio of 9.54, a P/E/G ratio of 1.55 and a beta of 0.58. The firm has a 50 day moving average price of $49.77 and a two-hundred day moving average price of $45.99. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. Fox Co. has a one year low of $27.99 and a one year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping analysts' consensus estimates 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 last year, the business posted $0.34 earnings per share. As a group, analysts expect that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.42%. FOX's dividend payout ratio (DPR) is currently 11.56%.

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business's stock in a transaction dated 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. The trade was a 4.61 % decrease in their ownership of the stock. The transaction 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 stock in a transaction dated Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company's stock, valued at approximately $1,618,324.61. This represents a 4.10 % 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.

Wall Street Analyst Weigh In

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

FOX Company 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.