Harvest Fund Management Co. Ltd Invests $2.70 Million in Fox Co. (NASDAQ:FOX)

Harvest Fund Management Co. Ltd purchased a new position in Fox Co. (NASDAQ:FOX) during the 4th quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The institutional investor purchased 58,964 shares of the company’s stock, valued at approximately $2,697,000.

Several other hedge funds and other institutional investors have also recently modified their holdings of the business. Xponance Inc. raised its holdings in shares of FOX by 18.8% in the fourth quarter. Xponance Inc. now owns 25,822 shares of the company’s stock worth $1,181,000 after buying an additional 4,078 shares during the period. Intech Investment Management LLC raised its holdings in shares of FOX by 688.8% in the fourth quarter. Intech Investment Management LLC now owns 65,702 shares of the company’s stock worth $3,005,000 after buying an additional 57,373 shares during the period. Generali Asset Management SPA SGR purchased a new stake in shares of FOX in the fourth quarter worth approximately $2,031,000. Cibc World Markets Corp raised its holdings in shares of FOX by 2.1% in the fourth quarter. Cibc World Markets Corp now owns 107,287 shares of the company’s stock worth $4,907,000 after buying an additional 2,208 shares during the period. Finally, Corient Private Wealth LLC raised its holdings in shares of FOX by 8.7% in the fourth quarter. Corient Private Wealth LLC now owns 10,473 shares of the company’s stock worth $479,000 after buying an additional 842 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

FOX Trading Up 1.3 %

FOX opened at $49.08 on Thursday. The stock’s fifty day moving average is $49.72 and its two-hundred day moving average is $44.35. The company has a market capitalization of $22.25 billion, a P/E ratio of 10.51, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a 52 week low of $26.92 and a 52 week high of $55.00. 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 (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS 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 quarter in the prior year, the company posted $0.34 EPS. Analysts forecast 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 will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.20%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Analysts Set New Price Targets

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

Insider Buying and Selling at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the 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 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 Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction on Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the sale, the insider now directly 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. Insiders own 23.06% of the company’s stock.

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.