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 business’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is available at this link.

FOX Price Performance

FOX stock opened at $53.28 on Wednesday. The company has a market cap of $24.16 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.55 and a beta of 0.82. The firm’s fifty day moving average is $48.38 and its 200 day moving average is $42.90. 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 $25.82 and a 52-week high of $54.53.

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, 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 quarter in the prior year, the business earned $0.34 EPS. Sell-side analysts forecast 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. Investors of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Institutional Inflows and Outflows

A number of hedge funds have recently bought and sold shares of the company. Yousif Capital Management LLC increased its position in FOX by 1.1% during the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock valued at $874,000 after acquiring an additional 212 shares during the last quarter. Victory Capital Management Inc. increased its position in FOX by 0.6% during the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock valued at $1,810,000 after acquiring an additional 300 shares during the last quarter. iA Global Asset Management Inc. increased its position in FOX by 5.4% during the fourth quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company’s stock valued at $311,000 after acquiring an additional 350 shares during the last quarter. Principal Securities Inc. increased its position in FOX by 51.5% during the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after acquiring an additional 362 shares during the last quarter. Finally, Glenmede Trust Co. NA increased its position in FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after acquiring an additional 449 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Moffett Nathanson downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research note 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.