Fox Co. (NASDAQ:FOX) Stock Position Lifted by CIBC Asset Management Inc

CIBC Asset Management Inc lifted its holdings in Fox Co. (NASDAQ:FOX) by 4.6% in the 4th quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 23,415 shares of the company’s stock after purchasing an additional 1,034 shares during the quarter. CIBC Asset Management Inc’s holdings in FOX were worth $1,071,000 as of its most recent filing with the SEC.

Several other institutional investors and hedge funds also recently modified their holdings of the business. Yousif Capital Management LLC grew its stake in shares of FOX by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock worth $874,000 after purchasing an additional 212 shares in the last quarter. Victory Capital Management Inc. boosted its stake in FOX by 0.6% during the third 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 in the last quarter. Principal Securities Inc. boosted its stake in FOX by 51.5% during the fourth 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. Glenmede Trust Co. NA boosted its stake in 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 in the last quarter. Finally, Nomura Asset Management Co. Ltd. boosted its stake in FOX by 0.7% during the third quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company’s stock valued at $2,981,000 after buying an additional 538 shares in the last quarter. Institutional investors own 26.41% of the company’s stock.

Analysts Set New Price Targets

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

FOX Trading Down 0.7 %

Shares of FOX stock opened at $53.01 on Friday. The stock has a 50-day simple moving average of $48.06 and a 200 day simple moving average of $42.57. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $54.07. The stock has a market capitalization of $24.04 billion, a P/E ratio of 11.35, a P/E/G ratio of 1.55 and a beta of 0.82. 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 EPS for the quarter, beating the consensus estimate 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 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 business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.04%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is 11.56%.

Insider Activity

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction dated Wednesday, February 5th. The stock was 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 directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % 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 company insiders.

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.