Sumitomo Mitsui Trust Group Inc. Sells 51,587 Shares of Fox Co. (NASDAQ:FOX)

Sumitomo Mitsui Trust Group Inc. cut its stake in Fox Co. (NASDAQ:FOX) by 13.4% during the fourth quarter, according to the company in its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 334,235 shares of the company’s stock after selling 51,587 shares during the period. Sumitomo Mitsui Trust Group Inc. owned about 0.07% of FOX worth $15,288,000 at the end of the most recent quarter.

A number of other hedge funds have also recently made changes to their positions in the stock. Yousif Capital Management LLC grew its holdings in shares of FOX by 1.1% in the fourth quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock worth $874,000 after purchasing an additional 212 shares during the last quarter. Victory Capital Management Inc. grew its holdings in shares of FOX by 0.6% in the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock worth $1,810,000 after purchasing an additional 300 shares during the last quarter. Glenmede Trust Co. NA grew its holdings in FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after acquiring an additional 449 shares in the last quarter. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 4.4% during the 3rd quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 10,742 shares of the company’s stock worth $417,000 after acquiring an additional 457 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its holdings in FOX by 0.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company’s stock worth $2,981,000 after acquiring an additional 538 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analysts Set New Price Targets

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

FOX Stock Up 1.8 %

Shares of FOX stock opened at $51.45 on Thursday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.33. Fox Co. has a 1 year low of $25.82 and a 1 year high of $52.54. The firm’s 50-day moving average is $46.71 and its two-hundred day moving average is $41.69. The stock has a market cap of $23.50 billion, a price-to-earnings ratio of 11.02, a PEG ratio of 1.47 and a beta of 0.82.

FOX (NASDAQ:FOX) last issued its 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 14.39% and a return on equity of 18.50%. During the same quarter in the previous year, the business posted $0.34 EPS. As a group, research analysts expect that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.10%. The ex-dividend date is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 771,024 shares of the stock in a transaction that occurred on Tuesday, November 26th. The shares were sold at an average price of $46.07, for a total value of $35,521,075.68. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this hyperlink. Also, insider Adam G. Ciongoli sold 1,278 shares of the stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 29,897 shares of the company’s stock, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

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.