Fox Co. (NASDAQ:FOX) Stake Raised by CIBC Asset Management Inc

CIBC Asset Management Inc increased its holdings in Fox Co. (NASDAQ:FOX) by 4.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The institutional investor owned 23,415 shares of the company’s stock after acquiring an additional 1,034 shares during the period. CIBC Asset Management Inc’s holdings in FOX were worth $1,071,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors also recently made changes to their positions in the company. Yousif Capital Management LLC raised its stake in shares of FOX by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock worth $874,000 after purchasing an additional 212 shares in the last quarter. Victory Capital Management Inc. raised its stake in shares of FOX by 0.6% during the 3rd quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock worth $1,810,000 after purchasing an additional 300 shares in the last quarter. Principal Securities Inc. raised its stake in shares of FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after purchasing an additional 362 shares in the last quarter. Glenmede Trust Co. NA increased its holdings in shares of FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. increased its holdings in shares of FOX by 0.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company’s stock valued at $2,981,000 after acquiring an additional 538 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

FOX opened at $53.01 on Friday. The firm has a market capitalization of $24.04 billion, a P/E ratio of 11.35, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. The stock’s 50 day moving average price is $48.06 and its two-hundred day moving average price is $42.57. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $25.82 and a 12-month high of $54.07.

FOX (NASDAQ:FOX) last released its 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 period last year, the company posted $0.34 EPS. On average, equities analysts forecast that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders 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 2.04%. The ex-dividend date is Wednesday, March 5th. FOX’s payout ratio is presently 11.56%.

Analyst Upgrades and Downgrades

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

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of FOX stock in a transaction that occurred on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total transaction of $35,521,075.68. The sale was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value 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. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

FOX 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.