Synergy Asset Management LLC Buys Shares of 52,604 Fox Co. (NASDAQ:FOX)

Synergy Asset Management LLC bought a new stake in Fox Co. (NASDAQ:FOX) during the 2nd quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm bought 52,604 shares of the company’s stock, valued at approximately $1,684,000.

Other institutional investors also recently modified their holdings of the company. Blue Trust Inc. boosted its stake in FOX by 692.1% in the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock valued at $45,000 after acquiring an additional 1,232 shares during the last quarter. Friedenthal Financial bought a new position in shares of FOX in the 2nd quarter worth $51,000. CWM LLC grew its stake in shares of FOX by 27.9% during the fourth quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after purchasing an additional 543 shares during the period. V Square Quantitative Management LLC increased its holdings in FOX by 20.8% in the fourth quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock valued at $94,000 after purchasing an additional 585 shares during the last quarter. Finally, Central Pacific Bank Trust Division acquired a new position in FOX in the first quarter valued at about $97,000. Institutional investors and hedge funds own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn upgraded FOX from a “hold” rating to a “strong-buy” rating in a research report on Thursday, May 9th.

Insider Transactions at FOX

In other FOX news, CEO Lachlan K. Murdoch bought 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through the SEC website. In other news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is currently owned by insiders.

FOX Trading Up 0.6 %

NASDAQ:FOX traded up $0.21 during trading hours on Friday, hitting $37.58. The stock had a trading volume of 24,325 shares, compared to its average volume of 1,122,906. The business’s 50 day moving average is $35.43 and its 200-day moving average is $31.41. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The company has a market cap of $17.54 billion, a price-to-earnings ratio of 11.71, a P/E/G ratio of 2.00 and a beta of 0.82. Fox Co. has a one year low of $25.82 and a one year high of $38.51.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating the consensus estimate of $0.87 by $0.03. The company had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same quarter in the previous year, the business earned $0.88 EPS. Sell-side analysts anticipate that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.87%. This is a positive change from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio (DPR) is currently 16.93%.

About FOX

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.