Edgestream Partners L.P. Grows Holdings in Fox Co. (NASDAQ:FOX)

Edgestream Partners L.P. grew its holdings in shares of Fox Co. (NASDAQ:FOX) by 50.6% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission. The fund owned 82,091 shares of the company’s stock after buying an additional 27,568 shares during the quarter. Edgestream Partners L.P.’s holdings in FOX were worth $3,755,000 as of its most recent SEC filing.

Several other institutional investors and hedge funds also recently made changes to their positions in the business. Raymond James Financial Inc. purchased a new position in shares of FOX during the 4th quarter valued at approximately $1,295,000. Arizona State Retirement System lifted its stake in FOX by 1.4% during the fourth quarter. Arizona State Retirement System now owns 41,054 shares of the company’s stock worth $1,878,000 after purchasing an additional 557 shares during the last quarter. Proficio Capital Partners LLC bought a new position in FOX during the fourth quarter worth $2,176,000. Charles Schwab Investment Management Inc. lifted its stake in FOX by 8.9% during the fourth quarter. Charles Schwab Investment Management Inc. now owns 38,037 shares of the company’s stock worth $1,740,000 after purchasing an additional 3,107 shares during the last quarter. Finally, QRG Capital Management Inc. lifted its stake in FOX by 3.1% during the fourth quarter. QRG Capital Management Inc. now owns 90,065 shares of the company’s stock worth $4,120,000 after purchasing an additional 2,721 shares during the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

FOX Stock Performance

Shares of FOX opened at $51.60 on Friday. The business’s fifty day moving average price is $49.35 and its 200 day moving average price is $43.76. Fox Co. has a 12-month low of $26.10 and a 12-month high of $55.00. The stock has a market capitalization of $23.40 billion, a PE ratio of 11.05, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14.

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

FOX Announces Dividend

The business also recently announced 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. This represents a $1.08 annualized dividend and a yield of 2.09%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is presently 11.56%.

Insiders Place Their Bets

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $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 Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the transaction, the insider now directly owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by corporate insiders.

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.