Fox Co. (NASDAQ:FOX) Stake Increased by Daiwa Securities Group Inc.

Daiwa Securities Group Inc. increased its stake in Fox Co. (NASDAQ:FOX) by 9.4% in the fourth quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 22,021 shares of the company’s stock after buying an additional 1,896 shares during the period. Daiwa Securities Group Inc.’s holdings in FOX were worth $1,007,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors have also made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX during the fourth quarter valued at $29,000. Glenmede Trust Co. NA raised its position in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Principal Securities Inc. raised its position in FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after acquiring an additional 362 shares in the last quarter. Ieq Capital LLC bought a new stake in FOX in the fourth quarter worth about $211,000. Finally, Empirical Finance LLC bought a new stake in FOX in the fourth quarter worth about $214,000. Institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

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

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

FOX Price Performance

Shares of FOX stock opened at $48.47 on Friday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The company’s 50-day moving average price is $49.60 and its two-hundred day moving average price is $44.13. Fox Co. has a 52 week low of $26.61 and a 52 week high of $55.00. The stock has a market cap of $21.98 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) 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 quarter in the prior year, the firm posted $0.34 EPS. As a group, sell-side analysts anticipate that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued 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 2.23%. FOX’s payout ratio is presently 11.56%.

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.