FUKOKU MUTUAL LIFE INSURANCE Co Acquires New Position in Fox Co. (NASDAQ:FOX)

FUKOKU MUTUAL LIFE INSURANCE Co purchased a new stake in Fox Co. (NASDAQ:FOX) in the fourth quarter, according to the company in its most recent filing with the SEC. The firm purchased 6,184 shares of the company’s stock, valued at approximately $283,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Migdal Insurance & Financial Holdings Ltd. purchased a new position in FOX in the 4th quarter valued at about $29,000. Glenmede Trust Co. NA raised its holdings 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 period. Principal Securities Inc. grew its stake in FOX by 51.5% during the fourth 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 period. Intact Investment Management Inc. purchased a new position in shares of FOX in the 3rd quarter valued at $74,000. Finally, Thrivent Financial for Lutherans acquired a new stake in FOX in the 3rd quarter valued at $201,000. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Performance

FOX stock opened at $53.31 on Thursday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 12-month low of $25.82 and a 12-month high of $54.58. The stock’s 50 day simple moving average is $48.52 and its 200 day simple moving average is $42.97. The firm has a market cap of $24.17 billion, a P/E ratio of 11.42, a P/E/G ratio of 1.55 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 in the prior year, the company earned $0.34 earnings per share. As a group, equities research analysts predict that Fox Co. will post 4.25 EPS for the current year.

FOX Dividend Announcement

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be given a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.03%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

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

Insider Transactions at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s 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 sale, the chairman now directly owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated Wednesday, February 5th. The shares were sold at an average price of $54.13, for a total transaction of $69,178.14. Following the transaction, 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 disclosure for this sale can be found here. Company 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.