Summit Global Investments Purchases 14,099 Shares of Fox Co. (NASDAQ:FOX)

Summit Global Investments increased its holdings in shares of Fox Co. (NASDAQ:FOX - Free Report) by 71.3% in the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 33,880 shares of the company's stock after purchasing an additional 14,099 shares during the period. Summit Global Investments' holdings in FOX were worth $1,550,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FOX. Victory Capital Management Inc. grew its stake in shares of FOX by 0.6% in the 3rd quarter. Victory Capital Management Inc. now owns 46,645 shares of the company's stock valued at $1,810,000 after buying an additional 300 shares during the period. Empowered Funds LLC grew its stake in FOX by 23.8% in the third quarter. Empowered Funds LLC now owns 22,167 shares of the company's stock valued at $860,000 after acquiring an additional 4,258 shares during the period. Thrivent Financial for Lutherans acquired a new position in shares of FOX during the third quarter worth approximately $201,000. Swiss National Bank lifted its holdings in shares of FOX by 1.1% in the 3rd quarter. Swiss National Bank now owns 419,334 shares of the company's stock worth $16,270,000 after purchasing an additional 4,600 shares in the last quarter. Finally, Quest Partners LLC bought a new position in shares of FOX in the 3rd quarter worth $304,000. 26.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing 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 stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company's stock.

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Analyst Ratings Changes

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

FOX Stock Down 0.8 %

FOX traded down $0.43 during midday trading on Thursday, reaching $50.73. 704,663 shares of the company were exchanged, compared to its average volume of 1,185,836. The company has a market cap of $23.00 billion, a price-to-earnings ratio of 10.86, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. Fox Co. has a one year low of $27.63 and a one year high of $55.00. The company's fifty day moving average price is $50.11 and its 200 day moving average price is $44.78. 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 (NASDAQ:FOX - Get Free Report) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts' consensus estimates 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 last year, the company posted $0.34 earnings per share. As a group, analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders 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 annualized dividend and a yield of 2.13%. FOX's dividend payout ratio (DPR) is 11.56%.

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.