Insider Selling: Fox Co. (NASDAQ:FOX) Chairman Sells 58,000 Shares of Stock

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred on 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 owns 1,200,862 shares in the company, 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 at the SEC website.

FOX Stock Up 0.1 %

FOX stock opened at $53.31 on Thursday. Fox Co. has a twelve month low of $25.82 and a twelve month high of $54.58. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock’s 50 day moving average is $48.52 and its 200-day moving average is $42.97. The firm has a market capitalization of $24.17 billion, a PE ratio of 11.42, a P/E/G ratio of 1.55 and a beta of 0.82.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period last year, the firm earned $0.34 EPS. Sell-side analysts expect that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared 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. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Institutional Trading of FOX

A number of hedge funds have recently bought and sold shares of the business. Mackenzie Financial Corp bought a new stake in FOX during the fourth quarter worth $206,000. Forum Financial Management LP bought a new stake in FOX during the fourth quarter worth $318,000. Toronto Dominion Bank lifted its holdings in FOX by 8.3% during the fourth quarter. Toronto Dominion Bank now owns 71,886 shares of the company’s stock worth $3,288,000 after acquiring an additional 5,488 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in FOX by 19.1% during the fourth quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,417,953 shares of the company’s stock worth $64,857,000 after acquiring an additional 227,589 shares during the period. Finally, Woodline Partners LP bought a new stake in FOX during the fourth quarter worth $362,000. 26.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

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.