ING Groep NV Cuts Stock Position in Fox Co. (NASDAQ:FOX)

ING Groep NV trimmed its holdings in shares of Fox Co. (NASDAQ:FOX) by 16.8% during the 4th quarter, HoldingsChannel.com reports. The firm owned 800,150 shares of the company’s stock after selling 161,794 shares during the quarter. ING Groep NV’s holdings in FOX were worth $36,599,000 as of its most recent SEC filing.

Several other institutional investors have also added to or reduced their stakes in FOX. Exchange Traded Concepts LLC purchased a new stake in FOX during the 3rd quarter valued at $128,000. Sumitomo Mitsui DS Asset Management Company Ltd boosted its stake in FOX by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock valued at $417,000 after purchasing an additional 457 shares during the last quarter. Blue Trust Inc. boosted its stake in FOX by 292.8% during the 3rd quarter. Blue Trust Inc. now owns 5,539 shares of the company’s stock valued at $215,000 after purchasing an additional 4,129 shares during the last quarter. Hartford Investment Management Co. boosted its stake in FOX by 10.9% during the 3rd quarter. Hartford Investment Management Co. now owns 9,048 shares of the company’s stock valued at $351,000 after purchasing an additional 891 shares during the last quarter. Finally, IFM Investors Pty Ltd boosted its stake in FOX by 42.0% during the 3rd quarter. IFM Investors Pty Ltd now owns 29,053 shares of the company’s stock valued at $1,127,000 after purchasing an additional 8,599 shares during the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, 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 disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

FOX Price Performance

NASDAQ FOX opened at $53.61 on Thursday. The business’s fifty day moving average price is $47.52 and its 200-day moving average price is $42.29. The stock has a market capitalization of $24.31 billion, a price-to-earnings ratio of 11.48, a PEG ratio of 1.53 and a beta of 0.82. 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 Co. has a 1-year low of $25.82 and a 1-year high of $53.95.

FOX (NASDAQ:FOX) last released its quarterly 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 previous year, the business posted $0.34 EPS. On average, equities analysts predict that Fox Co. will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The business 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 $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.01%. FOX’s dividend payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

Separately, Moffett Nathanson cut 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.