Fox Co. (NASDAQ:FOX) Chairman Sells $3,083,860.00 in Stock

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink.

FOX Stock Down 1.8 %

Shares of FOX stock traded down $0.95 during trading hours on Tuesday, reaching $53.28. 1,441,208 shares of the stock were exchanged, compared to its average volume of 1,145,636. The business’s fifty day moving average is $48.25 and its two-hundred day moving average is $42.78. The firm has a market capitalization of $24.16 billion, a P/E ratio of 11.41, a P/E/G 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. 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 announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating 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 in the prior year, the firm posted $0.34 EPS. As a group, research analysts expect that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

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

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.

Institutional Trading of FOX

A number of institutional investors have recently bought and sold shares of FOX. Vanguard Group Inc. increased its holdings in shares of FOX by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company’s stock valued at $655,738,000 after acquiring an additional 425,868 shares during the last quarter. State Street Corp boosted its holdings in FOX by 7.5% in the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock valued at $374,008,000 after purchasing an additional 671,511 shares in the last quarter. Independent Franchise Partners LLP increased its stake in FOX by 15.4% in the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company’s stock valued at $261,010,000 after purchasing an additional 759,874 shares during the last quarter. Geode Capital Management LLC increased its stake in FOX by 3.7% in the fourth quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company’s stock valued at $147,122,000 after purchasing an additional 114,442 shares during the last quarter. Finally, Norges Bank acquired a new stake in FOX during the fourth quarter worth approximately $138,822,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

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.