Seven Eight Capital LP Takes Position in Fox Co. (NASDAQ:FOX)

Seven Eight Capital LP bought a new position in shares of Fox Co. (NASDAQ:FOX) in the second quarter, according to the company in its most recent filing with the SEC. The firm bought 29,253 shares of the company’s stock, valued at approximately $937,000.

Several other institutional investors have also recently added to or reduced their stakes in FOX. Norges Bank acquired a new stake in shares of FOX in the fourth quarter valued at $70,598,000. Assenagon Asset Management S.A. acquired a new stake in FOX in the 2nd quarter valued at about $65,709,000. Bank of Nova Scotia raised its stake in shares of FOX by 315.5% in the fourth quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock worth $29,108,000 after acquiring an additional 799,383 shares during the last quarter. Regal Partners Ltd acquired a new position in shares of FOX during the second quarter worth approximately $16,398,000. Finally, Goldman Sachs Group Inc. grew its stake in shares of FOX by 93.3% during the fourth quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock valued at $26,155,000 after purchasing an additional 456,546 shares during the last quarter. 26.41% of the stock is owned by institutional investors.

Insider Buying and Selling

In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a document filed with the SEC, which is available through this link. In other news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a legal filing with the SEC, which is available at the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is owned by insiders.

FOX Price Performance

Shares of FOX stock opened at $37.28 on Friday. The firm has a market cap of $17.40 billion, a price-to-earnings ratio of 11.69, a PEG ratio of 1.90 and a beta of 0.81. Fox Co. has a 12 month low of $25.82 and a 12 month high of $38.51. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61. The stock has a 50-day moving average price of $36.42 and a 200 day moving average price of $32.15.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the previous year, the company earned $0.88 EPS. Research analysts expect that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be given a $0.27 dividend. This is a positive change from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a dividend yield of 2.90%. The ex-dividend date of this dividend is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is currently 16.93%.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn cut shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

FOX Company Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through Cable Network Programming; Television; and Other, Corporate and Eliminations segments. The Cable Network Programming segment produces and licenses news, business 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.