Geode Capital Management LLC Increases Stake in Fox Co. (NASDAQ:FOX)

Geode Capital Management LLC increased its holdings in Fox Co. (NASDAQ:FOX) by 3.7% during the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 3,224,397 shares of the company’s stock after purchasing an additional 114,442 shares during the quarter. Geode Capital Management LLC owned 0.71% of FOX worth $147,122,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds have also added to or reduced their stakes in FOX. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in shares of FOX during the fourth quarter valued at approximately $29,000. CIBC Private Wealth Group LLC boosted its position in FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock valued at $42,000 after buying an additional 522 shares during the period. Principal Securities Inc. grew its holdings in FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after acquiring an additional 362 shares during the last quarter. O Shaughnessy Asset Management LLC increased its position in shares of FOX by 82.7% in the fourth quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock valued at $61,000 after acquiring an additional 608 shares during the period. Finally, Ieq Capital LLC bought a new position in shares of FOX during the fourth quarter valued at about $211,000. 26.41% of the stock is owned by institutional investors.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available through the SEC website. 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 transaction of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, 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. Company insiders own 23.06% 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 Price Performance

FOX opened at $44.53 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 stock has a market capitalization of $20.19 billion, a PE ratio of 9.54, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The stock’s 50 day moving average price is $50.67 and its 200-day moving average price is $45.55. Fox Co. has a 52-week low of $27.63 and a 52-week high of $55.00.

FOX (NASDAQ:FOX) last issued its quarterly earnings data 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 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. On average, equities research analysts predict that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.43%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

FOX Company 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.