Contrarius Group Holdings Ltd Buys Shares of 1,262,911 Fox Co. (NASDAQ:FOX)

Contrarius Group Holdings Ltd bought a new stake in Fox Co. (NASDAQ:FOX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm bought 1,262,911 shares of the company’s stock, valued at approximately $57,766,000. FOX makes up 3.5% of Contrarius Group Holdings Ltd’s holdings, making the stock its 12th largest position. Contrarius Group Holdings Ltd owned 0.28% of FOX at the end of the most recent quarter.

Other hedge funds have also recently added to or reduced their stakes in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the fourth quarter worth $29,000. Glenmede Trust Co. NA lifted its holdings in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares during the period. Principal Securities Inc. lifted 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 period. Thrivent Financial for Lutherans acquired a new position in shares of FOX during the third quarter worth $201,000. Finally, Ieq Capital LLC acquired a new position in shares of FOX during the fourth quarter worth $211,000. Institutional investors and hedge funds own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on 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 completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, 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 document filed with the SEC, which is accessible through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction 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 completion of the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $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. Insiders own 23.06% of the company’s stock.

FOX Price Performance

Shares of NASDAQ FOX opened at $49.08 on Thursday. Fox Co. has a twelve month low of $26.92 and a twelve month high of $55.00. The firm has a fifty day simple moving average of $49.72 and a 200 day simple moving average of $44.35. The company has a market capitalization of $22.25 billion, a PE ratio of 10.51, a P/E/G ratio of 1.55 and a beta of 0.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last announced its earnings results 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 quarter in the prior year, the firm earned $0.34 earnings per share. On average, sell-side analysts forecast that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is presently 11.56%.

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.