Fox Co. (NASDAQ:FOX) Shares Sold by Korea Investment CORP

Korea Investment CORP decreased its stake in shares of Fox Co. (NASDAQ:FOX) by 67.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The fund owned 47,515 shares of the company’s stock after selling 97,300 shares during the period. Korea Investment CORP’s holdings in FOX were worth $2,173,000 as of its most recent filing with the SEC.

A number of other hedge funds have also bought and sold shares of the company. Mitsubishi UFJ Trust & Banking Corp lifted its holdings in FOX by 26.2% during the 4th quarter. Mitsubishi UFJ Trust & Banking Corp now owns 201,468 shares of the company’s stock worth $9,215,000 after buying an additional 41,878 shares during the last quarter. CMC Financial Group bought a new position in FOX during the fourth quarter worth $243,000. Vanguard Group Inc. lifted its stake in FOX by 3.1% during the fourth quarter. Vanguard Group Inc. now owns 14,336,198 shares of the company’s stock worth $655,738,000 after purchasing an additional 425,868 shares during the last quarter. KLP Kapitalforvaltning AS acquired a new position in FOX in the fourth quarter worth $8,119,000. Finally, AXQ Capital LP increased its stake in FOX by 95.5% during the fourth quarter. AXQ Capital LP now owns 14,261 shares of the company’s stock valued at $652,000 after purchasing an additional 6,967 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

FOX Stock Down 1.8 %

NASDAQ:FOX opened at $51.77 on Wednesday. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The stock has a 50 day moving average of $50.57 and a 200-day moving average of $45.26. The firm has a market capitalization of $23.47 billion, a PE ratio of 11.09, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. Fox Co. has a 52 week low of $27.63 and a 52 week high of $55.00.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 quarter in the prior year, the company posted $0.34 earnings per share. 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 was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a $0.27 dividend. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.09%. FOX’s dividend payout ratio is presently 11.56%.

Insider Buying and Selling at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the 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 completion of the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which can be accessed through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of FOX 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 sale, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. This represents a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is currently owned by company insiders.

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.