Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch Sells 58,000 Shares

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 58,000 shares of the business’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 owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which can be accessed through this link.

FOX Stock Performance

Shares of NASDAQ FOX opened at $53.28 on Wednesday. The firm has a 50 day moving average of $48.38 and a 200 day moving average of $42.90. 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 firm has a market capitalization of $24.16 billion, a price-to-earnings ratio of 11.41, a price-to-earnings-growth ratio of 1.55 and a beta of 0.82. Fox Co. has a 12-month low of $25.82 and a 12-month high of $54.53.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period last year, the company earned $0.34 earnings per share. On average, research analysts anticipate that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.03%. FOX’s payout ratio is currently 11.56%.

Hedge Funds Weigh In On FOX

A number of hedge funds have recently modified their holdings of FOX. Norges Bank bought a new position in shares of FOX in the fourth quarter worth approximately $138,822,000. Contrarius Group Holdings Ltd purchased a new position in shares of FOX in the fourth quarter worth $57,766,000. Assenagon Asset Management S.A. lifted its holdings in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after buying an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC purchased a new position in shares of FOX in the fourth quarter worth $48,606,000. Finally, National Bank of Canada FI lifted its holdings in shares of FOX by 212.7% in the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock worth $55,780,000 after buying an additional 977,907 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Wall Street Analysts Forecast Growth

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

FOX Company 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.