Royal London Asset Management Ltd. Increases Stake in Fox Co. (NASDAQ:FOX)

Royal London Asset Management Ltd. grew its position in Fox Co. (NASDAQ:FOX) by 32.0% in the 4th quarter, according to its most recent disclosure with the SEC. The fund owned 71,625 shares of the company’s stock after buying an additional 17,349 shares during the period. Royal London Asset Management Ltd.’s holdings in FOX were worth $3,276,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX in the fourth quarter worth $29,000. Glenmede Trust Co. NA raised its position in FOX by 136.9% in the 3rd 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 FOX by 51.5% during 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 period. Thrivent Financial for Lutherans purchased a new stake in shares of FOX during the 3rd quarter valued at about $201,000. Finally, Ieq Capital LLC bought a new stake in shares of FOX in the fourth quarter worth approximately $211,000. Institutional investors own 26.41% of the company’s stock.

FOX Stock Up 0.0 %

FOX opened at $49.71 on Tuesday. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The firm’s fifty day moving average is $49.92 and its 200 day moving average is $44.64. Fox Co. has a fifty-two week low of $27.31 and a fifty-two week high of $55.00.

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

FOX Announces Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. 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 Ratings Changes

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

Insider Activity at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred on Friday, February 21st. The stock was 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 owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was 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 insiders.

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.