Arlington Partners LLC Raises Stock Position in Fox Co. (NASDAQ:FOX)

Arlington Partners LLC lifted its stake in shares of Fox Co. (NASDAQ:FOX) by 2.2% during the third quarter, according to the company in its most recent Form 13F filing with the SEC. The firm owned 107,854 shares of the company’s stock after acquiring an additional 2,346 shares during the quarter. Arlington Partners LLC’s holdings in FOX were worth $4,185,000 at the end of the most recent reporting period.

Other institutional investors have also modified their holdings of the company. Independent Franchise Partners LLP boosted its stake in shares of FOX by 14.5% during the second quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock valued at $160,863,000 after purchasing an additional 636,247 shares in the last quarter. Dimensional Fund Advisors LP boosted its stake in shares of FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock valued at $74,483,000 after purchasing an additional 272,743 shares in the last quarter. Assenagon Asset Management S.A. bought a new position in shares of FOX during the second quarter valued at approximately $65,709,000. Janus Henderson Group PLC boosted its stake in shares of FOX by 7.8% during the first quarter. Janus Henderson Group PLC now owns 1,535,668 shares of the company’s stock valued at $43,953,000 after purchasing an additional 111,687 shares in the last quarter. Finally, Brandes Investment Partners LP boosted its stake in shares of FOX by 21.5% during the second quarter. Brandes Investment Partners LP now owns 1,273,492 shares of the company’s stock valued at $40,758,000 after purchasing an additional 225,768 shares in the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. This represents a 0.00 % decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available at the SEC website. In related news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the sale, the chief operating officer now owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. This represents a 0.00 % decrease in their position. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. This represents a 0.00 % increase in their position. The disclosure for this purchase can be found here. Insiders own 19.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Several brokerages have weighed in on FOX. Barclays upgraded shares of FOX to a “hold” rating in a research note on Wednesday, October 9th. Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX Price Performance

Shares of FOX stock traded down $0.34 during trading hours on Monday, reaching $38.63. The stock had a trading volume of 58,827 shares, compared to its average volume of 1,093,106. The stock’s 50 day moving average is $37.82 and its 200 day moving average is $33.79. The firm has a market capitalization of $18.03 billion, a PE ratio of 12.13, a PEG ratio of 2.01 and a beta of 0.81. Fox Co. has a twelve month low of $25.82 and a twelve month high of $39.32. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX) last issued its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the prior year, the firm posted $0.88 earnings per share. Equities analysts expect that Fox Co. will post 3.59 earnings per share for the current fiscal year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which was paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th were given a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.80%. The ex-dividend date was Wednesday, September 4th. This is an increase from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio is 16.93%.

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.