Pictet Asset Management Holding SA Boosts Stock Holdings in Fox Co. (NASDAQ:FOX)

Pictet Asset Management Holding SA boosted its position in Fox Co. (NASDAQ:FOX) by 9.5% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The fund owned 99,109 shares of the company’s stock after buying an additional 8,600 shares during the quarter. Pictet Asset Management Holding SA’s holdings in FOX were worth $4,533,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Several other hedge funds have also recently made changes to their positions in the company. Norges Bank purchased a new stake in shares of FOX during the 4th quarter valued at approximately $138,822,000. Contrarius Group Holdings Ltd bought a new position in shares of FOX in the fourth quarter worth $57,766,000. Assenagon Asset Management S.A. grew its position in shares of FOX by 58.4% in the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after purchasing an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of FOX during the 4th quarter valued at $48,606,000. Finally, National Bank of Canada FI lifted its holdings in FOX by 212.7% during the 3rd quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock worth $55,780,000 after purchasing an additional 977,907 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analyst Ratings Changes

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

FOX Stock Performance

NASDAQ FOX opened at $45.73 on Friday. The company’s 50 day simple moving average is $50.73 and its two-hundred day simple moving average is $45.39. 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 $27.63 and a 1 year high of $55.00. The stock has a market capitalization of $20.74 billion, a PE ratio of 9.79, a P/E/G ratio of 1.55 and a beta of 0.58.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates 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 prior year, the firm earned $0.34 EPS. Analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.36%. The ex-dividend date was Wednesday, March 5th. FOX’s payout ratio is 11.56%.

Insider Buying and Selling

In related 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 transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

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.