Adage Capital Partners GP L.L.C. Sells 1,100 Shares of Fox Co. (NASDAQ:FOX)

Adage Capital Partners GP L.L.C. trimmed its position in shares of Fox Co. (NASDAQ:FOX) by 0.9% in the fourth quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The firm owned 123,265 shares of the company’s stock after selling 1,100 shares during the period. Adage Capital Partners GP L.L.C.’s holdings in FOX were worth $5,638,000 as of its most recent SEC filing.

A number of other hedge funds also recently bought and sold shares of FOX. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX in the fourth quarter valued at about $29,000. CIBC Private Wealth Group LLC raised its position in FOX by 135.6% in the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock valued at $42,000 after purchasing an additional 522 shares during the last quarter. Principal Securities Inc. raised its position in FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after purchasing an additional 362 shares during the last quarter. O Shaughnessy Asset Management LLC raised its position in FOX by 82.7% in the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock valued at $61,000 after purchasing an additional 608 shares during the last quarter. Finally, Westpac Banking Corp raised its position in FOX by 84.0% in the 4th quarter. Westpac Banking Corp now owns 1,625 shares of the company’s stock valued at $74,000 after purchasing an additional 742 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

Insider Buying and Selling at FOX

In other news, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated 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 transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated 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 transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

FOX Trading Up 0.3 %

FOX stock opened at $45.92 on Tuesday. The company has a market cap of $20.82 billion, a P/E ratio of 9.83, a PEG ratio of 1.55 and a beta of 0.58. Fox Co. has a twelve month low of $28.51 and a twelve month high of $55.00. 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 business has a fifty day moving average of $48.90 and a 200-day moving average of $46.33.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 period in the prior year, the firm earned $0.34 earnings per share. As a group, equities research analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were issued a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.35%. FOX’s dividend payout ratio is presently 11.56%.

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.