Picton Mahoney Asset Management Invests $231,000 in Fox Co. (NASDAQ:FOX)

Picton Mahoney Asset Management acquired a new stake in Fox Co. (NASDAQ:FOX) in the fourth quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The fund acquired 5,050 shares of the company’s stock, valued at approximately $231,000.

Several other large investors have also recently added to or reduced their stakes in FOX. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the 4th quarter valued at approximately $29,000. Glenmede Trust Co. NA raised its stake in shares of FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares in the last quarter. Principal Securities Inc. boosted its holdings in FOX by 51.5% in the fourth 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 period. Thrivent Financial for Lutherans acquired a new position in FOX during the 3rd quarter worth $201,000. Finally, Ieq Capital LLC purchased a new stake in FOX during the 4th quarter worth about $211,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

Analyst Upgrades and Downgrades

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

Insider Activity at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the firm’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 transaction, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction dated Friday, February 21st. The shares were 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 directly owns 1,200,862 shares of the company’s stock, valued at $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 currently owned by corporate insiders.

FOX Trading Up 2.9 %

NASDAQ FOX opened at $48.47 on Monday. Fox Co. has a 52 week low of $26.61 and a 52 week high of $55.00. The firm has a 50 day moving average of $49.60 and a two-hundred day moving average of $44.18. The stock has a market capitalization of $21.98 billion, a PE ratio of 10.38, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 quarter in the prior year, the company earned $0.34 earnings per share. As a group, research analysts expect that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

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 2.23%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) 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.