Zurcher Kantonalbank Zurich Cantonalbank Decreases Stock Position in Fox Co. (NASDAQ:FOX)

Zurcher Kantonalbank Zurich Cantonalbank lessened its stake in shares of Fox Co. (NASDAQ:FOX) by 11.0% in the 4th quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The fund owned 414,442 shares of the company’s stock after selling 51,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank’s holdings in FOX were worth $18,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also recently made changes to their positions in FOX. Assenagon Asset Management S.A. boosted its stake in FOX by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after buying an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC purchased a new stake in shares of FOX during the 4th quarter worth approximately $48,606,000. National Bank of Canada FI boosted its position in shares of FOX by 212.7% during the 3rd quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after acquiring an additional 977,907 shares during the last quarter. Amundi grew its holdings in shares of FOX by 83.0% in the fourth quarter. Amundi now owns 1,549,002 shares of the company’s stock valued at $72,199,000 after purchasing an additional 702,561 shares in the last quarter. Finally, State Street Corp increased its position in FOX by 7.5% in the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after purchasing an additional 671,511 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred 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 completion of the sale, 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 position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’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 completion of 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 position. The disclosure for this sale can be found here. 23.06% of the stock is owned by corporate insiders.

Wall Street Analyst Weigh In

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 Trading Down 2.0 %

Shares of NASDAQ FOX opened at $48.99 on Wednesday. Fox Co. has a 1-year low of $26.56 and a 1-year high of $55.00. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The business’s 50 day moving average is $49.49 and its two-hundred day moving average is $43.97. The stock has a market capitalization of $22.21 billion, a P/E ratio of 10.49, a PEG ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last released its 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 quarter in the prior year, the company posted $0.34 EPS. As a group, research analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The company also recently announced 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. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.20%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

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.