AXQ Capital LP Raises Stake in Fox Co. (NASDAQ:FOX)

AXQ Capital LP increased its stake in Fox Co. (NASDAQ:FOX) by 95.5% in the fourth quarter, according to its most recent 13F filing with the Securities & Exchange Commission. The institutional investor owned 14,261 shares of the company’s stock after purchasing an additional 6,967 shares during the quarter. AXQ Capital LP’s holdings in FOX were worth $652,000 at the end of the most recent quarter.

Other hedge funds and other institutional investors have also recently made changes to their positions in the company. Sei Investments Co. boosted its position in FOX by 20.0% during the fourth quarter. Sei Investments Co. now owns 434,136 shares of the company’s stock worth $19,856,000 after purchasing an additional 72,220 shares in the last quarter. Summit Global Investments raised its stake in shares of FOX by 71.3% during the 4th quarter. Summit Global Investments now owns 33,880 shares of the company’s stock worth $1,550,000 after buying an additional 14,099 shares during the last quarter. Contrarius Group Holdings Ltd purchased a new stake in shares of FOX in the 4th quarter worth about $57,766,000. iA Global Asset Management Inc. grew its stake in FOX by 5.4% in the 4th quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company’s stock valued at $311,000 after acquiring an additional 350 shares during the last quarter. Finally, Royal London Asset Management Ltd. increased its holdings in FOX by 32.0% during the 4th quarter. Royal London Asset Management Ltd. now owns 71,625 shares of the company’s stock valued at $3,276,000 after acquiring an additional 17,349 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Stock Performance

NASDAQ FOX opened at $49.70 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. Fox Co. has a fifty-two week low of $27.20 and a fifty-two week high of $55.00. The business has a fifty day moving average of $49.85 and a 200-day moving average of $44.51. The stock has a market cap of $22.54 billion, a price-to-earnings ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 business posted $0.34 EPS. As a group, analysts predict that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.17%. FOX’s payout ratio is currently 11.56%.

Insider Activity

In other FOX 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 transaction, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their position. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

Analyst Ratings Changes

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

FOX Company 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.