Summit Global Investments Boosts Holdings in Fox Co. (NASDAQ:FOX)

Summit Global Investments lifted its stake in Fox Co. (NASDAQ:FOX) by 71.3% in the 4th quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The fund owned 33,880 shares of the company’s stock after purchasing an additional 14,099 shares during the quarter. Summit Global Investments’ holdings in FOX were worth $1,550,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also bought and sold shares of FOX. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the 4th quarter worth about $29,000. Glenmede Trust Co. NA raised its position in FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares during the last quarter. Principal Securities Inc. raised its position in FOX by 51.5% in the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after buying an additional 362 shares during the last quarter. Thrivent Financial for Lutherans purchased a new position in FOX in the 3rd quarter worth about $201,000. Finally, Ieq Capital LLC purchased a new position in FOX in the 4th quarter worth about $211,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

Insider Transactions 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 shares were sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction that occurred 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 completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $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. Company insiders own 23.06% of the company’s stock.

FOX Price Performance

Shares of NASDAQ:FOX opened at $49.70 on Friday. The firm’s 50 day moving average price is $49.85 and its 200-day moving average price is $44.51. Fox Co. has a twelve month low of $27.20 and a twelve month 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. The stock has a market capitalization of $22.54 billion, a PE ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last issued its quarterly earnings data 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 net margin of 14.39% and a return on equity of 18.50%. During the same period in the previous year, the firm posted $0.34 EPS. Equities research analysts expect that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.17%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is presently 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.