FOX (NASDAQ:FOX) Trading 3.6% Higher – Here’s What Happened

Fox Co. (NASDAQ:FOX) was up 3.6% during trading on Monday . The stock traded as high as $52.38 and last traded at $52.36. Approximately 1,169,087 shares were traded during trading, a decline of 1% from the average daily volume of 1,179,118 shares. The stock had previously closed at $50.52.

Analyst Ratings Changes

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

FOX Price Performance

The stock has a market capitalization of $24.03 billion, a PE ratio of 11.35, a PEG ratio of 1.55 and a beta of 0.58. 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 business has a fifty day moving average price of $50.57 and a 200-day moving average price of $45.26.

FOX (NASDAQ:FOX) last posted its quarterly 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 quarter in the prior year, the firm earned $0.34 EPS. Research analysts expect that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.04%. FOX’s payout ratio is 11.56%.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction 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 completion of the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

Institutional Trading of FOX

Several institutional investors and hedge funds have recently bought and sold shares of the stock. Vanguard Group Inc. grew its stake in FOX by 3.1% in the fourth quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company’s stock worth $655,738,000 after purchasing an additional 425,868 shares during the period. State Street Corp grew its position in shares of 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 buying an additional 671,511 shares during the period. Independent Franchise Partners LLP increased its stake in shares of FOX by 15.4% in the 4th quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company’s stock worth $261,010,000 after acquiring an additional 759,874 shares in the last quarter. Geode Capital Management LLC lifted its position in FOX by 3.7% during the 4th quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company’s stock valued at $147,122,000 after acquiring an additional 114,442 shares during the period. Finally, Norges Bank bought a new stake in FOX during the fourth quarter worth about $138,822,000. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

About FOX

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.