Intech Investment Management LLC Acquires 57,373 Shares of Fox Co. (NASDAQ:FOX)

Intech Investment Management LLC lifted its holdings in shares of Fox Co. (NASDAQ:FOX) by 688.8% in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 65,702 shares of the company’s stock after acquiring an additional 57,373 shares during the period. Intech Investment Management LLC’s holdings in FOX were worth $3,005,000 at the end of the most recent reporting period.

Several other hedge funds and other institutional investors also recently made changes to their positions in FOX. State Street Corp grew its position in FOX by 7.5% in the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after purchasing an additional 671,511 shares in the last quarter. Geode Capital Management LLC grew its position in FOX by 3.1% in the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock worth $120,299,000 after purchasing an additional 92,515 shares in the last quarter. Assenagon Asset Management S.A. grew its position in FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after purchasing an additional 1,095,073 shares in the last quarter. Janus Henderson Group PLC grew its position in FOX by 15.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after purchasing an additional 226,867 shares in the last quarter. Finally, Amundi grew its position in FOX by 83.0% in the 4th quarter. Amundi now owns 1,549,002 shares of the company’s stock worth $72,199,000 after purchasing an additional 702,561 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

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

FOX Stock Up 1.3 %

FOX opened at $49.08 on Thursday. 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 has a market cap of $22.25 billion, a price-to-earnings ratio of 10.51, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a twelve month low of $26.92 and a twelve month high of $55.00. The company’s 50-day moving average price is $49.72 and its two-hundred day moving average price is $44.35.

FOX (NASDAQ:FOX) last released 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 net margin of 14.39% and a return on equity of 18.50%. During the same period in the previous year, the business earned $0.34 EPS. As a group, equities analysts expect that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The business also recently announced 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 dividend on an annualized basis and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Buying and Selling at FOX

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’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 transaction of $3,083,860.00. Following 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 sale was disclosed in a filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction that occurred on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

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.