Westchester Capital Management LLC Takes $712,000 Position in Fox Co. (NASDAQ:FOX)

Westchester Capital Management LLC acquired a new position in shares of Fox Co. (NASDAQ:FOX) in the 3rd quarter, according to its most recent 13F filing with the SEC. The fund acquired 18,342 shares of the company’s stock, valued at approximately $712,000.

Several other institutional investors have also recently modified their holdings of the stock. Price T Rowe Associates Inc. MD raised its holdings in shares of FOX by 0.6% in the first quarter. Price T Rowe Associates Inc. MD now owns 176,053 shares of the company’s stock worth $5,040,000 after acquiring an additional 1,118 shares during the last quarter. iA Global Asset Management Inc. raised its stake in FOX by 9.5% in the 1st quarter. iA Global Asset Management Inc. now owns 8,386 shares of the company’s stock valued at $240,000 after purchasing an additional 731 shares during the last quarter. Swedbank AB purchased a new position in FOX in the 1st quarter valued at about $1,915,000. DekaBank Deutsche Girozentrale boosted its stake in shares of FOX by 28.0% during the 1st quarter. DekaBank Deutsche Girozentrale now owns 46,394 shares of the company’s stock worth $1,303,000 after purchasing an additional 10,159 shares during the last quarter. Finally, GAMMA Investing LLC grew its holdings in shares of FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after buying an additional 2,569 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of FOX stock opened at $44.73 on Friday. The firm has a market capitalization of $20.43 billion, a price-to-earnings ratio of 10.94, a price-to-earnings-growth ratio of 1.70 and a beta of 0.81. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The company has a 50 day moving average price of $40.39 and a 200 day moving average price of $36.33. Fox Co. has a one year low of $25.82 and a one year high of $44.89.

Insider Transactions at FOX

In related news, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction that occurred on Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total value of $7,979,894.13. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $10,907,311.52. This trade represents a 42.25 % decrease in their ownership of the stock. The transaction was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of FOX stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total transaction of $35,521,075.68. The disclosure for this sale can be found here. Insiders have sold a total of 1,053,505 shares of company stock worth $47,705,970 in the last three months. 23.06% of the stock is currently owned by company insiders.

Wall Street Analysts Forecast Growth

FOX has been the topic of a number of analyst reports. Seaport Res Ptn lowered shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th. Barclays raised FOX to a “hold” rating in a research note on Wednesday, October 9th.

About FOX

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.