Covestor Ltd Trims Stake in Fox Co. (NASDAQ:FOX)

Covestor Ltd lessened its stake in shares of Fox Co. (NASDAQ:FOX) by 68.7% in the 4th quarter, HoldingsChannel.com reports. The firm owned 1,023 shares of the company’s stock after selling 2,246 shares during the period. Covestor Ltd’s holdings in FOX were worth $47,000 as of its most recent filing with the SEC.

A number of other hedge funds and other institutional investors have also bought and sold shares of FOX. Vanguard Group Inc. lifted its holdings in FOX by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company’s stock valued at $655,738,000 after purchasing an additional 425,868 shares in the last quarter. Geode Capital Management LLC boosted its holdings 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 buying an additional 114,442 shares during the period. Norges Bank purchased a new stake in FOX in the 4th quarter worth $138,822,000. Assenagon Asset Management S.A. raised its holdings in FOX by 58.4% during 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 acquiring an additional 1,095,073 shares during the period. Finally, Amundi lifted its position in shares of FOX by 83.0% in the fourth quarter. Amundi now owns 1,549,002 shares of the company’s stock valued at $72,199,000 after acquiring an additional 702,561 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Buying and Selling at FOX

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction that occurred 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 sale, the insider now owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the 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 completion of the transaction, the chairman now directly owns 1,200,862 shares in the company, 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. Insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

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

FOX Stock Performance

Shares of NASDAQ:FOX opened at $46.04 on Tuesday. The firm has a fifty day simple moving average of $50.20 and a two-hundred day simple moving average of $45.87. 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 $20.88 billion, a P/E ratio of 9.86, a PEG ratio of 1.55 and a beta of 0.58. Fox Co. has a 52 week low of $27.64 and a 52 week high of $55.00.

FOX (NASDAQ:FOX) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period last year, the company posted $0.34 EPS. On average, analysts expect that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The firm also recently declared a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.35%. FOX’s payout ratio is presently 11.56%.

FOX 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.