Polymer Capital Management HK LTD Lowers Holdings in Fox Co. (NASDAQ:FOX)

Polymer Capital Management HK LTD trimmed its position in shares of Fox Co. (NASDAQ:FOX) by 67.6% during the 4th quarter, according to its most recent 13F filing with the SEC. The fund owned 32,400 shares of the company’s stock after selling 67,600 shares during the quarter. Polymer Capital Management HK LTD’s holdings in FOX were worth $1,482,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also bought and sold shares of the company. Norges Bank purchased a new stake in shares of FOX during the fourth quarter valued at approximately $138,822,000. Contrarius Group Holdings Ltd bought a new position in FOX in the 4th quarter valued at approximately $57,766,000. Assenagon Asset Management S.A. boosted its stake in FOX by 58.4% during the 4th 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 during the last quarter. Wedge Capital Management L L P NC bought a new stake in shares of FOX in the 4th quarter worth $48,606,000. Finally, National Bank of Canada FI raised its stake in shares of FOX by 212.7% in the third 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 during the last quarter. 26.41% of the stock is currently owned by institutional investors.

Wall Street Analyst Weigh In

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

Insider Activity at FOX

In other news, 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 owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by corporate insiders.

FOX Trading Down 4.5 %

Shares of FOX stock opened at $45.73 on Friday. 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 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 Co. has a 1-year low of $27.63 and a 1-year high of $55.00. The company’s fifty day simple moving average is $50.73 and its 200-day simple moving average is $45.45.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 previous year, the business posted $0.34 EPS. As a group, equities analysts anticipate 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 was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.36%. FOX’s dividend payout ratio is 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.