Virtu Financial LLC Decreases Stock Position in Fox Co. (NASDAQ:FOX)

Virtu Financial LLC reduced its position in Fox Co. (NASDAQ:FOX - Free Report) by 70.4% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 63,808 shares of the company's stock after selling 151,617 shares during the period. Virtu Financial LLC's holdings in FOX were worth $2,919,000 at the end of the most recent quarter.

Several other institutional investors have also recently bought and sold shares of FOX. Victory Capital Management Inc. grew its holdings in FOX by 0.6% during the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company's stock worth $1,810,000 after buying an additional 300 shares in the last quarter. Empowered Funds LLC grew its stake in shares of FOX by 23.8% in the 3rd quarter. Empowered Funds LLC now owns 22,167 shares of the company's stock worth $860,000 after acquiring an additional 4,258 shares in the last quarter. Thrivent Financial for Lutherans bought a new position in shares of FOX during the third quarter valued at about $201,000. Swiss National Bank grew its position in 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 purchased a new stake in FOX in the 3rd quarter valued at about $304,000. Institutional investors and hedge funds own 26.41% of the company's stock.

Insider Buying and Selling at FOX

In other 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 value of $69,178.14. Following the transaction, the insider now owns 29,897 shares of the company's stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on 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 sale, 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 disclosure for this sale can be found here. Insiders own 23.06% of the company's stock.

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FOX Stock Performance

FOX traded down $0.43 during midday trading on Thursday, reaching $50.73. The company had a trading volume of 704,663 shares, compared to its average volume of 1,185,836. The business has a 50-day moving average price of $50.11 and a two-hundred day moving average price of $44.78. Fox Co. has a 12-month low of $27.63 and a 12-month high of $55.00. The stock has a market cap of $23.00 billion, a PE ratio of 10.86, a P/E/G ratio of 1.55 and a beta of 0.74. 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 posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period in the prior year, the business earned $0.34 earnings per share. On average, sell-side analysts expect that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.13%. FOX's dividend payout ratio (DPR) is currently 11.56%.

Wall Street Analyst Weigh In

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

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.