Proficio Capital Partners LLC Buys Shares of 47,570 Fox Co. (NASDAQ:FOX)

Proficio Capital Partners LLC bought a new position in shares of Fox Co. (NASDAQ:FOX) during the 4th quarter, Holdings Channel reports. The fund bought 47,570 shares of the company’s stock, valued at approximately $2,176,000.

Other institutional investors and hedge funds have also made changes to their positions in the company. Assenagon Asset Management S.A. increased its stake in FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after purchasing an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in FOX in the fourth quarter valued at $48,606,000. National Bank of Canada FI increased its position in shares of FOX by 212.7% in the third quarter. National Bank of Canada FI now owns 1,437,637 shares of the company’s stock valued at $55,780,000 after buying an additional 977,907 shares in the last quarter. State Street Corp raised its stake in shares of FOX by 7.5% during the 3rd quarter. State Street Corp now owns 9,639,382 shares of the company’s stock worth $374,008,000 after buying an additional 671,511 shares during the last quarter. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of FOX by 448.4% in the 3rd quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock worth $27,661,000 after buying an additional 582,900 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

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

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction dated Friday, February 21st. The shares were sold at an average price of $53.17, for a total transaction 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 $63,849,832.54. This represents a 4.61 % decrease in their position. The transaction was disclosed in a legal filing with the SEC, which is available through this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the completion of the sale, the insider now directly owns 29,897 shares in the company, valued at $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. Insiders own 23.06% of the company’s stock.

FOX Trading Up 1.3 %

Shares of FOX stock opened at $49.08 on Thursday. The business has a 50 day moving average price of $49.72 and a 200 day moving average price of $44.35. The company has a market capitalization of $22.25 billion, a P/E ratio of 10.51, a P/E/G ratio of 1.55 and a beta of 0.74. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. Fox Co. has a 1 year low of $26.92 and a 1 year high of $55.00.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period in the previous year, the business earned $0.34 earnings per share. Sell-side analysts anticipate that Fox Co. will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be paid a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.20%. FOX’s dividend payout ratio is currently 11.56%.

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.