DnB Asset Management AS Acquires 6,479 Shares of Fox Co. (NASDAQ:FOX)

DnB Asset Management AS boosted its stake in shares of Fox Co. (NASDAQ:FOX) by 28.2% in the fourth quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 29,437 shares of the company’s stock after buying an additional 6,479 shares during the period. DnB Asset Management AS’s holdings in FOX were worth $1,346,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds and other institutional investors have also bought and sold shares of the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX during the 4th quarter worth $29,000. Glenmede Trust Co. NA lifted its position in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares during the last quarter. Principal Securities Inc. boosted its holdings in shares of FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after buying an additional 362 shares in the last quarter. Ieq Capital LLC purchased a new position in shares of FOX in the 4th quarter worth approximately $211,000. Finally, Empirical Finance LLC bought a new position in shares of FOX during the 4th quarter worth approximately $214,000. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

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

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred 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 completion of the sale, 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 position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

FOX Stock Down 1.8 %

Shares of FOX stock opened at $51.77 on Wednesday. The stock’s fifty day moving average price is $50.57 and its 200 day moving average price is $45.26. Fox Co. has a 1-year low of $27.63 and a 1-year high of $55.00. The company has a market cap of $23.47 billion, a price-to-earnings ratio of 11.09, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

FOX (NASDAQ:FOX) last issued its quarterly 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 return on equity of 18.50% and a net margin of 14.39%. During the same quarter last year, the business earned $0.34 EPS. On average, research analysts expect that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders 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 yield of 2.09%. FOX’s payout ratio is 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.