Norges Bank Takes Position in Fox Co. (NASDAQ:FOX)

Norges Bank acquired a new position in Fox Co. (NASDAQ:FOX) in the fourth quarter, according to the company in its most recent disclosure with the SEC. The firm acquired 3,035,032 shares of the company’s stock, valued at approximately $138,822,000. Norges Bank owned 0.66% of FOX as of its most recent filing with the SEC.

Other institutional investors and hedge funds have also recently added to or reduced their stakes in the company. Janus Henderson Group PLC lifted its position in shares of FOX by 15.2% in the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after purchasing an additional 226,867 shares in the last quarter. Barclays PLC lifted its position in FOX by 3.6% in the 3rd quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after buying an additional 18,802 shares in the last quarter. Synergy Asset Management LLC boosted its stake in shares of FOX by 73.2% during the 4th quarter. Synergy Asset Management LLC now owns 61,166 shares of the company’s stock valued at $2,566,000 after buying an additional 25,846 shares during the period. Exchange Traded Concepts LLC grew its holdings in shares of FOX by 1,622.8% during the 4th quarter. Exchange Traded Concepts LLC now owns 56,750 shares of the company’s stock valued at $2,596,000 after acquiring an additional 53,456 shares in the last quarter. Finally, ABC Arbitrage SA acquired a new position in shares of FOX in the fourth quarter worth $247,000. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Transactions at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction that occurred on 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 transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by corporate insiders.

FOX Price Performance

Shares of FOX opened at $52.71 on Tuesday. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm has a market cap of $23.90 billion, a PE ratio of 11.29, a PEG ratio of 1.55 and a beta of 0.74. The firm’s 50 day moving average price is $50.44 and its 200 day moving average price is $45.15. Fox Co. has a twelve month low of $27.63 and a twelve month high of $55.00.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating 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 company posted $0.34 EPS. As a group, research analysts expect that Fox Co. will post 4.25 EPS 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 given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.05%. FOX’s dividend payout ratio is currently 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.