Alliancebernstein L.P. Raises Position in Fox Co. (NASDAQ:FOX)

Alliancebernstein L.P. increased its position in shares of Fox Co. (NASDAQ:FOX) by 2.1% in the 4th quarter, HoldingsChannel reports. The firm owned 313,455 shares of the company’s stock after purchasing an additional 6,364 shares during the period. Alliancebernstein L.P.’s holdings in FOX were worth $14,337,000 as of its most recent filing with the Securities & Exchange Commission.

Other hedge funds have also recently added to or reduced their stakes in the company. O Shaughnessy Asset Management LLC raised its stake in shares of FOX by 82.7% during the 4th quarter. O Shaughnessy Asset Management LLC now owns 1,343 shares of the company’s stock worth $61,000 after buying an additional 608 shares in the last quarter. CIBC Private Wealth Group LLC grew its holdings in FOX by 135.6% during the fourth quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock worth $42,000 after acquiring an additional 522 shares during the period. California Public Employees Retirement System lifted its holdings in FOX by 11.2% in the fourth quarter. California Public Employees Retirement System now owns 295,396 shares of the company’s stock valued at $13,511,000 after acquiring an additional 29,682 shares during the period. Arrowstreet Capital Limited Partnership boosted its position in shares of FOX by 94.3% during the 4th quarter. Arrowstreet Capital Limited Partnership now owns 365,328 shares of the company’s stock worth $16,710,000 after purchasing an additional 177,331 shares in the last quarter. Finally, DnB Asset Management AS grew its stake in shares of FOX by 28.2% during the 4th quarter. DnB Asset Management AS now owns 29,437 shares of the company’s stock worth $1,346,000 after purchasing an additional 6,479 shares during the period. Institutional investors and hedge funds own 26.41% of the company’s stock.

Insider Buying and Selling

In other news, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction 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 sale, the insider now owns 29,897 shares in the company, valued at $1,618,324.61. This trade represents a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The shares were 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 $63,849,832.54. The trade was a 4.61 % 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 Stock Performance

Shares of FOX stock opened at $43.81 on Wednesday. The stock has a fifty day moving average price of $50.51 and a 200 day moving average price of $45.58. The company has a debt-to-equity ratio of 0.57, a quick ratio of 2.14 and a current ratio of 2.50. The stock has a market cap of $19.86 billion, a PE ratio of 9.38, a P/E/G ratio of 1.55 and a beta of 0.58. Fox Co. has a 1 year low of $27.63 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 (EPS) for the quarter, topping the consensus estimate 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 firm posted $0.34 earnings per share. Sell-side analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date of this dividend was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.47%. FOX’s dividend payout ratio is currently 11.56%.

Analyst Upgrades and Downgrades

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

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.