QRG Capital Management Inc. Acquires 2,721 Shares of Fox Co. (NASDAQ:FOX)

QRG Capital Management Inc. raised its holdings in Fox Co. (NASDAQ:FOX) by 3.1% during the fourth quarter, according to the company in its most recent 13F filing with the SEC. The institutional investor owned 90,065 shares of the company’s stock after purchasing an additional 2,721 shares during the quarter. QRG Capital Management Inc.’s holdings in FOX were worth $4,120,000 as of its most recent SEC filing.

Several other hedge funds and other institutional investors also recently modified their holdings of the business. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the 4th quarter worth approximately $29,000. Glenmede Trust Co. NA grew its stake in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares during the last quarter. Principal Securities Inc. lifted its stake in shares of FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after acquiring an additional 362 shares during the last quarter. Intact Investment Management Inc. acquired a new stake in shares of FOX during the 3rd quarter valued at $74,000. Finally, Thrivent Financial for Lutherans bought a new stake in FOX during the 3rd quarter worth $201,000. Institutional investors own 26.41% of the company’s stock.

Analysts Set New Price Targets

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

FOX Stock Up 2.2 %

NASDAQ:FOX opened at $54.07 on Friday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a one year low of $25.82 and a one year high of $54.58. The firm’s 50 day simple moving average is $48.81 and its 200 day simple moving average is $43.22. The company has a market cap of $24.52 billion, a PE ratio of 11.58, a P/E/G ratio of 1.55 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its quarterly earnings data 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 net margin of 14.39% and a return on equity of 18.50%. During the same period in the previous year, the business earned $0.34 EPS. On average, research analysts anticipate that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

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 paid a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.00%. FOX’s payout ratio is 11.56%.

Insider Transactions at FOX

In other FOX news, 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 sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which is accessible through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’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 completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % 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.