Royal London Asset Management Ltd. Has $3.28 Million Stock Position in Fox Co. (NASDAQ:FOX)

Royal London Asset Management Ltd. boosted its position in Fox Co. (NASDAQ:FOX) by 32.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 71,625 shares of the company’s stock after buying an additional 17,349 shares during the period. Royal London Asset Management Ltd.’s holdings in FOX were worth $3,276,000 at the end of the most recent quarter.

Other large investors also recently modified their holdings of the company. State Street Corp grew its stake in shares of FOX by 7.5% in the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after acquiring an additional 671,511 shares in the last quarter. Geode Capital Management LLC grew its position in FOX by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock worth $120,299,000 after purchasing an additional 92,515 shares in the last quarter. Assenagon Asset Management S.A. increased its stake in FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after buying an additional 1,095,073 shares during the last quarter. Janus Henderson Group PLC lifted its position in shares of FOX by 15.2% during the 3rd quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after buying an additional 226,867 shares in the last quarter. Finally, Amundi boosted its stake in shares of FOX by 83.0% in the 4th quarter. Amundi now owns 1,549,002 shares of the company’s stock worth $72,199,000 after buying an additional 702,561 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

FOX Stock Performance

Shares of FOX opened at $49.71 on Tuesday. Fox Co. has a 52-week low of $27.31 and a 52-week high of $55.00. The stock’s 50-day simple moving average is $49.92 and its 200 day simple moving average is $44.64. 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 stock has a market capitalization of $22.54 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 in the prior year, the firm posted $0.34 earnings per share. Research analysts forecast that Fox Co. will post 4.25 EPS 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 issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’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 transaction 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 legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was 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 owned by corporate insiders.

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.