Westpac Banking Corp Increases Stock Holdings in Fox Co. (NASDAQ:FOX)

Westpac Banking Corp boosted its stake in Fox Co. (NASDAQ:FOX) by 84.0% in the fourth quarter, according to its most recent filing with the Securities and Exchange Commission. The fund owned 1,625 shares of the company’s stock after buying an additional 742 shares during the quarter. Westpac Banking Corp’s holdings in FOX were worth $74,000 as of its most recent SEC filing.

Other large investors have also bought and sold shares of the company. Vanguard Group Inc. grew its stake in shares of FOX by 3.1% in the 4th quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company’s stock worth $655,738,000 after acquiring an additional 425,868 shares in the last quarter. State Street Corp boosted its holdings in FOX by 7.5% during the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after purchasing an additional 671,511 shares during the last quarter. Geode Capital Management LLC grew its position in FOX by 3.7% in the 4th quarter. Geode Capital Management LLC now owns 3,224,397 shares of the company’s stock worth $147,122,000 after purchasing an additional 114,442 shares in the last quarter. Norges Bank purchased a new stake in FOX in the 4th quarter valued at about $138,822,000. Finally, Assenagon Asset Management S.A. lifted its position in shares of FOX by 58.4% during the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock worth $135,890,000 after buying an additional 1,095,073 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction dated 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 sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. The sale was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the company’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. This trade represents a 4.10 % 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 insiders.

Wall Street Analysts Forecast Growth

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

FOX Trading Down 4.5 %

Shares of FOX stock opened at $45.73 on Friday. The firm has a market cap 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 Co. has a 1 year low of $27.63 and a 1 year 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. The stock has a fifty day moving average price of $50.73 and a 200-day moving average price of $45.39.

FOX (NASDAQ:FOX) last posted 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 net margin of 14.39% and a return on equity of 18.50%. During the same quarter last year, the company earned $0.34 earnings per share. Equities research analysts anticipate that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

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

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.