Gabelli Funds LLC Has $14.33 Million Stock Holdings in Fox Co. (NASDAQ:FOX)

Gabelli Funds LLC grew its position in Fox Co. (NASDAQ:FOX) by 7.2% during the second quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 447,500 shares of the company’s stock after purchasing an additional 30,000 shares during the quarter. Gabelli Funds LLC owned approximately 0.10% of FOX worth $14,329,000 as of its most recent SEC filing.

Other institutional investors and hedge funds have also modified their holdings of the company. Dimensional Fund Advisors LP boosted its stake in FOX by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,070,204 shares of the company’s stock valued at $57,243,000 after purchasing an additional 20,306 shares during the period. Norges Bank bought a new stake in shares of FOX in the fourth quarter valued at approximately $70,598,000. Trexquant Investment LP grew its stake in shares of FOX by 232.5% in the fourth quarter. Trexquant Investment LP now owns 36,186 shares of the company’s stock worth $1,001,000 after acquiring an additional 25,304 shares during the last quarter. Neuberger Berman Group LLC grew its stake in shares of FOX by 57.1% in the fourth quarter. Neuberger Berman Group LLC now owns 33,849 shares of the company’s stock worth $936,000 after acquiring an additional 12,307 shares during the last quarter. Finally, TD Asset Management Inc increased its position in FOX by 15.6% during the fourth quarter. TD Asset Management Inc now owns 242,390 shares of the company’s stock worth $6,702,000 after acquiring an additional 32,703 shares during the period. 26.41% of the stock is currently owned by institutional investors and hedge funds.

Analyst Ratings Changes

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

FOX Stock Up 1.4 %

FOX stock opened at $37.82 on Tuesday. The business’s 50-day simple moving average is $36.50 and its 200 day simple moving average is $32.32. 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 company has a market cap of $17.65 billion, a PE ratio of 11.86, a price-to-earnings-growth ratio of 1.90 and a beta of 0.81. Fox Co. has a twelve month low of $25.82 and a twelve month high of $38.51.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same quarter last year, the firm earned $0.88 EPS. On average, research analysts anticipate that Fox Co. will post 3.59 earnings per share for the current year.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.86%. The ex-dividend date of this dividend is Wednesday, September 4th. This is a positive change from FOX’s previous quarterly dividend of $0.26. FOX’s payout ratio is 16.93%.

Insider Activity

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

FOX 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.