Metis Global Partners LLC Has $695,000 Position in Fox Co. (NASDAQ:FOX)

Metis Global Partners LLC cut its stake in Fox Co. (NASDAQ:FOX) by 9.4% during the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 15,200 shares of the company’s stock after selling 1,581 shares during the quarter. Metis Global Partners LLC’s holdings in FOX were worth $695,000 as of its most recent filing with the Securities and Exchange Commission.

Other hedge funds and other institutional investors have also modified their holdings of the company. Assenagon Asset Management S.A. increased its position in FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after purchasing an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC acquired a new position in FOX in the fourth quarter worth approximately $48,606,000. National Bank of Canada FI raised its position in FOX by 212.7% during the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after acquiring an additional 977,907 shares in the last quarter. State Street Corp lifted its stake 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 acquiring an additional 671,511 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund grew its position in FOX by 448.4% in the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock worth $27,661,000 after acquiring an additional 582,900 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX Price Performance

Shares of NASDAQ:FOX opened at $52.61 on Wednesday. The stock has a market capitalization of $23.85 billion, a P/E ratio of 11.27, a P/E/G ratio of 1.55 and a beta of 0.82. The business has a 50-day moving average of $49.05 and a two-hundred day moving average of $43.50. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week 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.

FOX (NASDAQ:FOX) last posted its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 last year, the company posted $0.34 earnings per share. On average, equities research analysts predict that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed 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. This represents a $1.08 annualized dividend and a dividend yield of 2.05%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Activity at FOX

In related news, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction that occurred 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 transaction, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by company insiders.

Analyst Upgrades and Downgrades

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

FOX 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.