Blue Trust Inc. Reduces Stake in Fox Co. (NASDAQ:FOX)

Blue Trust Inc. cut its holdings in shares of Fox Co. (NASDAQ:FOX) by 78.2% during the 4th quarter, according to its most recent Form 13F filing with the SEC. The firm owned 1,206 shares of the company’s stock after selling 4,333 shares during the period. Blue Trust Inc.’s holdings in FOX were worth $55,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently made changes to their positions in the company. Migdal Insurance & Financial Holdings Ltd. purchased a new stake in FOX in the fourth quarter worth about $29,000. Glenmede Trust Co. NA boosted its holdings in shares of FOX by 136.9% during the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after buying an additional 449 shares in the last quarter. Intact Investment Management Inc. bought a new stake in shares of FOX during the 3rd quarter valued at $74,000. Thrivent Financial for Lutherans purchased a new stake in shares of FOX in the 3rd quarter worth about $201,000. Finally, Empirical Finance LLC purchased a new position in FOX during the 4th quarter valued at about $214,000. Institutional investors own 26.41% of the company’s stock.

Analyst Ratings Changes

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

FOX Trading Down 1.8 %

NASDAQ:FOX opened at $53.28 on Wednesday. The stock has a market cap of $24.16 billion, a price-to-earnings ratio of 11.41, a PEG ratio of 1.55 and a beta of 0.82. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The company’s 50 day moving average price is $48.38 and its 200-day moving average price is $42.90. Fox Co. has a 52 week low of $25.82 and a 52 week high of $54.53.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating 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 period in the previous year, the firm posted $0.34 EPS. On average, equities research 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 will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be issued a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.03%. FOX’s payout ratio is 11.56%.

Insider Activity at FOX

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated Friday, February 21st. The stock was sold at an average price of $53.17, for a total value of $3,083,860.00. Following the transaction, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the firm’s stock in a transaction that occurred 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 completion of the transaction, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The disclosure for this sale can be found here. 23.06% of the stock is owned by insiders.

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.