Fox Co. (NASDAQ:FOX) Shares Sold by State of Michigan Retirement System

State of Michigan Retirement System reduced its position in Fox Co. (NASDAQ:FOX) by 6.2% during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor owned 42,431 shares of the company’s stock after selling 2,800 shares during the period. State of Michigan Retirement System’s holdings in FOX were worth $1,941,000 as of its most recent SEC filing.

A number of other institutional investors have also modified their holdings of the company. Migdal Insurance & Financial Holdings Ltd. acquired a new position in FOX during the fourth quarter valued at approximately $29,000. Glenmede Trust Co. NA raised its stake in shares of FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares during the period. Principal Securities Inc. lifted its holdings in shares of FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after acquiring an additional 362 shares in the last quarter. Ieq Capital LLC purchased a new stake in FOX during the 4th quarter worth $211,000. Finally, Empirical Finance LLC acquired a new stake in FOX in the 4th quarter valued at $214,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

FOX Stock Up 0.2 %

Shares of NASDAQ:FOX opened at $51.60 on Friday. The company has a 50 day moving average of $49.35 and a two-hundred day moving average of $43.76. Fox Co. has a 52-week low of $26.10 and a 52-week 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 company has a market capitalization of $23.40 billion, a price-to-earnings ratio of 11.05, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (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 business posted $0.34 EPS. As a group, analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.09%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is 11.56%.

Insider Activity at FOX

In other news, 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 owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the 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 directly owns 29,897 shares in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by company insiders.

Wall Street Analyst Weigh In

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

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.