Summit Global Investments Raises Stock Holdings in Fox Co. (NASDAQ:FOX)

Summit Global Investments increased its position in Fox Co. (NASDAQ:FOX) by 71.3% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 33,880 shares of the company’s stock after buying an additional 14,099 shares during the quarter. Summit Global Investments’ holdings in FOX were worth $1,550,000 as of its most recent filing with the Securities & Exchange Commission.

Several other hedge funds also recently made changes to their positions in FOX. Migdal Insurance & Financial Holdings Ltd. purchased a new position in shares of FOX in the fourth quarter worth $29,000. Glenmede Trust Co. NA increased its stake in shares of FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after buying an additional 449 shares during the period. Principal Securities Inc. increased its stake in shares of FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after buying an additional 362 shares during the period. Thrivent Financial for Lutherans purchased a new position in shares of FOX in the third quarter worth $201,000. Finally, Ieq Capital LLC purchased a new position in shares of FOX in the fourth quarter worth $211,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ:FOX opened at $49.70 on Friday. The stock has a market cap of $22.54 billion, a P/E ratio of 10.64, a price-to-earnings-growth ratio of 1.55 and a beta of 0.74. The firm’s fifty day simple moving average is $49.85 and its 200 day simple moving average is $44.51. Fox Co. has a twelve month low of $27.20 and a twelve month high of $55.00. 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 (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share for the quarter, beating the consensus estimate 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 in the previous year, the company earned $0.34 EPS. As a group, research analysts predict that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.17%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio (DPR) is currently 11.56%.

Wall Street Analysts Forecast Growth

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

Insider Activity at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the business’s stock in a transaction on 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 sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on 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 trade represents a 4.10 % decrease in their position. 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.