Keith Rupert Murdoch Sells 58,000 Shares of Fox Co. (NASDAQ:FOX) Stock

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 58,000 shares of the company’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 of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website.

FOX Price Performance

Shares of FOX opened at $53.31 on Thursday. Fox Co. has a 12-month low of $25.82 and a 12-month high of $54.58. The business has a 50-day simple moving average of $48.52 and a two-hundred day simple moving average of $42.97. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $24.17 billion, a PE ratio of 11.42, a PEG ratio of 1.55 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period in the previous year, the business earned $0.34 earnings per share. Analysts anticipate that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.03%. FOX’s dividend payout ratio is currently 11.56%.

Institutional Investors Weigh In On FOX

Several large investors have recently added to or reduced their stakes in FOX. IFM Investors Pty Ltd grew its stake in FOX by 42.0% during the third quarter. IFM Investors Pty Ltd now owns 29,053 shares of the company’s stock worth $1,127,000 after purchasing an additional 8,599 shares during the period. Mirae Asset Global Investments Co. Ltd. grew its stake in FOX by 28.6% during the third quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,010 shares of the company’s stock worth $505,000 after purchasing an additional 2,892 shares during the period. DekaBank Deutsche Girozentrale grew its stake in FOX by 74.4% during the third quarter. DekaBank Deutsche Girozentrale now owns 46,471 shares of the company’s stock worth $1,773,000 after purchasing an additional 19,832 shares during the period. State of Alaska Department of Revenue grew its stake in FOX by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 34,314 shares of the company’s stock worth $1,331,000 after purchasing an additional 1,040 shares during the period. Finally, New York State Teachers Retirement System grew its stake in FOX by 7.8% during the third quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock worth $6,783,000 after purchasing an additional 12,656 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Moffett Nathanson cut FOX from a “strong-buy” rating to a “hold” rating in a 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.