KLP Kapitalforvaltning AS Acquires Shares of 177,500 Fox Co. (NASDAQ:FOX)

KLP Kapitalforvaltning AS bought a new stake in shares of Fox Co. (NASDAQ:FOX) during the fourth quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund bought 177,500 shares of the company’s stock, valued at approximately $8,119,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the business. 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 worth $1,810,000 after acquiring an additional 300 shares in the last quarter. Thrivent Financial for Lutherans purchased a new stake in shares of FOX in the 3rd quarter worth approximately $201,000. Quest Partners LLC bought a new position in FOX during the 3rd quarter valued at approximately $304,000. Intech Investment Management LLC purchased a new position in FOX during the third quarter valued at $323,000. Finally, Charles Schwab Investment Management Inc. boosted its holdings in FOX by 15.0% in the third quarter. Charles Schwab Investment Management Inc. now owns 34,930 shares of the company’s stock worth $1,355,000 after acquiring an additional 4,565 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction 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 directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction 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 sale, the insider now 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 position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

Wall Street Analyst Weigh In

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

FOX Price Performance

Shares of FOX opened at $49.71 on Tuesday. Fox Co. has a twelve month low of $27.31 and a twelve month high of $55.00. The company has a market capitalization of $22.54 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The firm has a 50 day moving average of $49.92 and a 200 day moving average of $44.64. 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 posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, topping 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 company earned $0.34 earnings per share. As a group, equities research analysts anticipate that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently declared 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 dividend on an annualized basis and a dividend yield of 2.17%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is presently 11.56%.

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.