NEOS Investment Management LLC Takes $267,000 Position in Fox Co. (NASDAQ:FOX)

NEOS Investment Management LLC purchased a new position in shares of Fox Co. (NASDAQ:FOX) in the 4th quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund purchased 5,827 shares of the company’s stock, valued at approximately $267,000.

Several other institutional investors and hedge funds have also made changes to their positions in the business. Contrarius Group Holdings Ltd purchased a new position in FOX during the fourth quarter worth $57,766,000. Assenagon Asset Management S.A. increased its position in FOX by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after purchasing an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC purchased a new stake in FOX during the 4th quarter worth about $48,606,000. National Bank of Canada FI raised its stake in FOX by 212.7% in 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 purchasing an additional 977,907 shares during the last quarter. Finally, Amundi boosted its stake in shares of FOX by 83.0% during the 4th quarter. Amundi now owns 1,549,002 shares of the company’s stock worth $72,199,000 after purchasing an additional 702,561 shares during the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Transactions at FOX

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 shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction that occurred on Wednesday, February 5th. The shares were 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 approximately $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. Insiders own 23.06% of the company’s stock.

Analysts Set New Price Targets

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 Price Performance

FOX stock opened at $52.71 on Tuesday. The stock has a market capitalization of $23.90 billion, a price-to-earnings ratio of 11.29, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a 52-week low of $27.63 and a 52-week high of $55.00. The stock’s fifty day simple moving average is $50.44 and its 200-day simple moving average is $45.15.

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

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were paid a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.05%. FOX’s dividend payout ratio is presently 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.