CMC Financial Group Invests $243,000 in Fox Co. (NASDAQ:FOX)

CMC Financial Group purchased a new position in Fox Co. (NASDAQ:FOX) during the 4th quarter, according to its most recent 13F filing with the SEC. The firm purchased 5,307 shares of the company’s stock, valued at approximately $243,000. FOX comprises approximately 0.5% of CMC Financial Group’s investment portfolio, making the stock its 18th largest position.

Several other hedge funds and other institutional investors have also made changes to their positions in FOX. Victory Capital Management Inc. boosted its position in shares of FOX by 0.6% in 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 during the last quarter. Thrivent Financial for Lutherans bought a new position in shares of FOX in the 3rd quarter worth $201,000. Quest Partners LLC bought a new position in shares of FOX in the 3rd quarter worth $304,000. B. Metzler seel. Sohn & Co. Holding AG bought a new position in shares of FOX in the 3rd quarter worth $908,000. Finally, BNP PARIBAS ASSET MANAGEMENT Holding S.A. lifted its holdings in FOX by 48.8% during the third quarter. BNP PARIBAS ASSET MANAGEMENT Holding S.A. now owns 385,506 shares of the company’s stock worth $14,958,000 after acquiring an additional 126,384 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

FOX Stock Performance

FOX stock opened at $49.70 on Monday. The business’s 50-day moving average price is $49.85 and its two-hundred day moving average price is $44.56. 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 firm has a market cap of $22.54 billion, a PE ratio of 10.64, a P/E/G ratio of 1.55 and a beta of 0.74. Fox Co. has a 1-year low of $27.20 and a 1-year high of $55.00.

FOX (NASDAQ:FOX) last posted its earnings results 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 return on equity of 18.50% and a net margin of 14.39%. During the same quarter last year, the firm earned $0.34 EPS. As a group, research analysts forecast that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is 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 Buying and Selling at FOX

In related 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 value of $69,178.14. Following the sale, 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. 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 completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

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.