Empirical Finance LLC Purchases Shares of 4,680 Fox Co. (NASDAQ:FOX)

Empirical Finance 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 (SEC). The fund purchased 4,680 shares of the company’s stock, valued at approximately $214,000.

A number of other hedge funds and other institutional investors have also recently modified their holdings of the company. Kingsview Wealth Management LLC raised its position in FOX by 25.4% in the 4th quarter. Kingsview Wealth Management LLC now owns 78,039 shares of the company’s stock worth $3,570,000 after purchasing an additional 15,830 shares during the period. Sumitomo Mitsui DS Asset Management Company Ltd increased its holdings in shares of FOX by 8.8% in the fourth quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 11,686 shares of the company’s stock worth $535,000 after buying an additional 944 shares during the period. Migdal Insurance & Financial Holdings Ltd. bought a new stake in shares of FOX in the 4th quarter valued at about $29,000. Choreo LLC boosted its holdings in FOX by 25.4% during the 4th quarter. Choreo LLC now owns 13,223 shares of the company’s stock valued at $609,000 after acquiring an additional 2,675 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. boosted its holdings in FOX by 22.6% during the 4th quarter. Mirae Asset Global Investments Co. Ltd. now owns 15,955 shares of the company’s stock valued at $742,000 after acquiring an additional 2,945 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a filing 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 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. 23.06% of the stock is currently owned by insiders.

Analysts Set New Price Targets

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

FOX Price Performance

Shares of FOX stock opened at $50.55 on Wednesday. The company’s fifty day simple moving average is $46.58 and its two-hundred day simple moving average is $41.58. Fox Co. has a 12-month low of $25.82 and a 12-month high of $52.54. The firm has a market cap of $23.09 billion, a PE ratio of 10.82, a price-to-earnings-growth ratio of 1.47 and a beta of 0.82. The company has a quick ratio of 2.33, a current ratio of 2.50 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last posted its 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 firm earned $0.34 EPS. As a group, equities analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date of this dividend is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.14%. FOX’s dividend payout ratio 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.