Fox Co. (NASDAQ:FOX) Stock Holdings Lessened by State of Michigan Retirement System

State of Michigan Retirement System lessened its holdings in shares of Fox Co. (NASDAQ:FOX) by 6.2% in the fourth quarter, Holdings Channel.com reports. The institutional investor owned 42,431 shares of the company’s stock after selling 2,800 shares during the quarter. State of Michigan Retirement System’s holdings in FOX were worth $1,941,000 as of its most recent filing with the Securities & Exchange Commission.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Janus Henderson Group PLC grew its holdings in shares of FOX by 15.2% during the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock valued at $66,582,000 after purchasing an additional 226,867 shares during the last quarter. Summit Global Investments bought a new position in FOX during the 3rd quarter worth $768,000. Barclays PLC increased its position in FOX by 3.6% in the third quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after buying an additional 18,802 shares during the period. Algert Global LLC bought a new stake in FOX in the third quarter valued at $2,561,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of FOX by 448.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock valued at $27,661,000 after acquiring an additional 582,900 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Insider Transactions at FOX

In other news, 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 completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated 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 of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

FOX Stock Performance

Shares of FOX stock opened at $51.60 on Friday. Fox Co. has a 12-month low of $26.10 and a 12-month 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 firm 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. The business has a 50 day simple moving average of $49.35 and a 200 day simple moving average of $43.76.

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 return on equity of 18.50% and a net margin of 14.39%. During the same period in the previous year, the business earned $0.34 earnings per share. On average, equities research analysts anticipate that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

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

Analyst Ratings Changes

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

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.