CIBC Asset Management Inc Acquires 1,623 Shares of Fox Co. (NASDAQ:FOX)

CIBC Asset Management Inc boosted its stake in Fox Co. (NASDAQ:FOX) by 7.8% during the 3rd quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 22,381 shares of the company’s stock after acquiring an additional 1,623 shares during the period. CIBC Asset Management Inc’s holdings in FOX were worth $868,000 at the end of the most recent reporting period.

A number of other hedge funds have also added to or reduced their stakes in FOX. Assenagon Asset Management S.A. bought a new position in FOX in the second quarter worth $65,709,000. Independent Franchise Partners LLP increased its stake in shares of FOX by 14.5% in the 2nd quarter. Independent Franchise Partners LLP now owns 5,023,830 shares of the company’s stock worth $160,863,000 after acquiring an additional 636,247 shares in the last quarter. Regal Partners Ltd purchased a new position in FOX during the 2nd quarter valued at about $16,398,000. Dimensional Fund Advisors LP boosted its stake in FOX by 13.3% during the second quarter. Dimensional Fund Advisors LP now owns 2,326,267 shares of the company’s stock worth $74,483,000 after acquiring an additional 272,743 shares in the last quarter. Finally, Edgestream Partners L.P. grew its holdings in FOX by 867.4% in the second quarter. Edgestream Partners L.P. now owns 304,088 shares of the company’s stock worth $9,737,000 after purchasing an additional 272,656 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

A number of analysts have recently commented on FOX shares. Barclays raised FOX to a “hold” rating in a research report on Wednesday, October 9th. Seaport Res Ptn downgraded FOX from a “strong-buy” rating to a “hold” rating in a report on Monday, September 9th.

FOX Stock Up 0.4 %

NASDAQ:FOX opened at $43.37 on Thursday. The company has a debt-to-equity ratio of 0.58, a quick ratio of 2.33 and a current ratio of 2.59. The firm has a market cap of $19.81 billion, a P/E ratio of 10.60, a P/E/G ratio of 1.64 and a beta of 0.81. Fox Co. has a fifty-two week low of $25.82 and a fifty-two week high of $44.42. The firm has a 50-day simple moving average of $39.38 and a two-hundred day simple moving average of $35.70.

Insider Activity

In other FOX news, Chairman Keith Rupert Murdoch sold 100,000 shares of the company’s stock in a transaction dated Wednesday, November 6th. The shares were sold at an average price of $42.05, for a total transaction of $4,205,000.00. Following the transaction, the chairman now owns 1,258,862 shares in the company, valued at approximately $52,935,147.10. This represents a 7.36 % decrease in their position. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through this hyperlink. Also, COO John Nallen sold 182,481 shares of the firm’s stock in a transaction dated Tuesday, November 5th. The shares were sold at an average price of $43.73, for a total transaction of $7,979,894.13. Following the sale, the chief operating officer now directly owns 249,424 shares in the company, valued at approximately $10,907,311.52. The trade was a 42.25 % decrease in their position. The disclosure for this sale can be found here. Corporate insiders own 23.06% of the company’s stock.

FOX 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.