Adam G. Ciongoli Sells 1,278 Shares of Fox Co. (NASDAQ:FOX) Stock

Fox Co. (NASDAQ:FOX) insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction dated 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 transaction, the insider now owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the SEC, which is available at the SEC website.

FOX Price Performance

Shares of FOX stock opened at $50.46 on Friday. The company’s 50-day moving average price is $46.24 and its two-hundred day moving average price is $41.20. The stock has a market cap of $23.05 billion, a PE ratio of 12.34, a price-to-earnings-growth ratio of 1.76 and a beta of 0.82. The company has a current ratio of 2.59, a quick ratio of 2.33 and a debt-to-equity ratio of 0.58. Fox Co. has a 52 week low of $25.82 and a 52 week high of $52.54.

FOX (NASDAQ:FOX) last posted 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 net margin of 13.40% and a return on equity of 16.49%. During the same period last year, the business earned $0.34 EPS. As a group, sell-side analysts anticipate that Fox Co. will post 3.91 EPS for the current fiscal year.

FOX Dividend Announcement

The business also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. This represents a $1.08 annualized dividend and a dividend yield of 2.14%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is 11.56%.

Hedge Funds Weigh In On FOX

A number of institutional investors have recently bought and sold shares of FOX. State Street Corp raised its holdings in shares of FOX by 7.5% during the third quarter. State Street Corp now owns 9,639,382 shares of the company’s stock valued at $374,008,000 after acquiring an additional 671,511 shares during the period. Geode Capital Management LLC grew its position in FOX by 3.1% during the 3rd quarter. Geode Capital Management LLC now owns 3,109,955 shares of the company’s stock worth $120,299,000 after purchasing an additional 92,515 shares in the last quarter. Assenagon Asset Management S.A. raised its stake in FOX by 58.4% during 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 during the period. Janus Henderson Group PLC lifted its holdings in shares of FOX by 15.2% in the third quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock valued at $66,582,000 after purchasing an additional 226,867 shares in the last quarter. Finally, National Bank of Canada FI boosted 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 worth $55,780,000 after buying an additional 977,907 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

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

About FOX

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.