Palumbo Wealth Management LLC Acquires New Position in Fox Co. (NASDAQ:FOX)

Palumbo Wealth Management LLC bought a new position in Fox Co. (NASDAQ:FOX) in the fourth quarter, according to its most recent filing with the SEC. The firm bought 25,543 shares of the company’s stock, valued at approximately $1,168,000.

Several other large investors also recently bought and sold shares of the stock. Migdal Insurance & Financial Holdings Ltd. acquired a new position in shares of FOX in the fourth quarter valued at about $29,000. Glenmede Trust Co. NA boosted its position in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares during the last quarter. Intact Investment Management Inc. acquired a new position in FOX in the 3rd quarter worth approximately $74,000. Exchange Traded Concepts LLC purchased a new position in FOX during the 3rd quarter worth approximately $128,000. Finally, Empirical Finance LLC purchased a new stake in shares of FOX in the 4th quarter valued at $214,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

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

FOX Stock Up 0.4 %

Shares of FOX opened at $52.39 on Friday. The company has a market capitalization of $23.93 billion, a price-to-earnings ratio of 11.22, a PEG ratio of 1.47 and a beta of 0.82. Fox Co. has a 52 week low of $25.82 and a 52 week high of $52.54. The stock’s 50-day moving average price is $47.18 and its 200-day moving average price is $41.95. The company has a quick ratio of 2.33, 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 period last year, the firm posted $0.34 EPS. On average, sell-side analysts predict that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The company also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.06%. FOX’s payout ratio is 11.56%.

Insiders Place Their Bets

In related news, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 owns 29,897 shares of the company’s stock, valued at approximately $1,618,324.61. This trade represents a 4.10 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, Chairman Keith Rupert Murdoch sold 771,024 shares of the company’s stock in a transaction on Tuesday, November 26th. The stock was 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 own 23.06% of the company’s stock.

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.