Insider Buying: Fox Co. (NASDAQ:FOX) CEO Buys 119,705 Shares of Stock

Fox Co. (NASDAQ:FOX) CEO Lachlan K. Murdoch purchased 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the completion of the acquisition, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which can be accessed through the SEC website.

FOX Stock Performance

Shares of FOX traded up $0.46 during trading hours on Friday, reaching $36.76. 827,218 shares of the company traded hands, compared to its average volume of 1,146,483. The stock has a market capitalization of $17.16 billion, a P/E ratio of 11.58, a P/E/G ratio of 5.71 and a beta of 0.82. The company has a quick ratio of 2.94, a current ratio of 3.24 and a debt-to-equity ratio of 0.67. Fox Co. has a 12-month low of $25.82 and a 12-month high of $37.13. The business has a fifty day moving average price of $33.53 and a 200-day moving average price of $30.44.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The firm had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 11.19% and a return on equity of 15.90%. During the same period in the previous year, the company earned $0.88 earnings per share. Equities analysts anticipate that Fox Co. will post 3.32 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, September 4th. This is a positive change from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.94%. FOX’s payout ratio is 16.93%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn raised shares of FOX from a “hold” rating to a “strong-buy” rating in a report on Thursday, May 9th.

Institutional Investors Weigh In On FOX

Large investors have recently made changes to their positions in the stock. International Assets Investment Management LLC acquired a new position in FOX during the fourth quarter valued at $74,000. Louisiana State Employees Retirement System acquired a new position in FOX during the fourth quarter valued at $221,000. Sumitomo Mitsui Trust Holdings Inc. lifted its position in FOX by 0.4% during the fourth quarter. Sumitomo Mitsui Trust Holdings Inc. now owns 403,340 shares of the company’s stock valued at $11,152,000 after purchasing an additional 1,670 shares during the period. Everence Capital Management Inc. lifted its position in FOX by 103.0% during the fourth quarter. Everence Capital Management Inc. now owns 26,390 shares of the company’s stock valued at $730,000 after purchasing an additional 13,390 shares during the period. Finally, Zurcher Kantonalbank Zurich Cantonalbank lifted its position in FOX by 377.5% during the fourth quarter. Zurcher Kantonalbank Zurich Cantonalbank now owns 359,678 shares of the company’s stock valued at $9,945,000 after purchasing an additional 284,353 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.