Empirical Finance LLC Purchases New Shares in Fox Co. (NASDAQ:FOX)

Empirical Finance LLC acquired a new position in Fox Co. (NASDAQ:FOX) in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The institutional investor acquired 4,680 shares of the company’s stock, valued at approximately $214,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in FOX. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX in the fourth quarter worth about $29,000. Glenmede Trust Co. NA increased its stake in shares of FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares during the last quarter. Intact Investment Management Inc. bought a new stake in shares of FOX in the 3rd quarter worth approximately $74,000. Exchange Traded Concepts LLC purchased a new position in FOX in the third quarter valued at approximately $128,000. Finally, Livforsakringsbolaget Skandia Omsesidigt grew its holdings in FOX by 1,269.2% during the third quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 3,560 shares of the company’s stock valued at $138,000 after purchasing an additional 3,300 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Activity

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 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 transaction was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction dated Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

Wall Street Analyst Weigh In

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

FOX Price Performance

FOX opened at $50.55 on Wednesday. The firm has a 50-day moving average price of $46.58 and a 200-day moving average price of $41.58. Fox Co. has a twelve month low of $25.82 and a twelve month high of $52.54. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company has a market capitalization of $23.09 billion, a price-to-earnings ratio of 10.82, a PEG ratio of 1.47 and a beta of 0.82.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 previous year, the firm earned $0.34 earnings per share. Equities analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 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.