Bank of New York Mellon Corp Increases Stock Position in Fox Co. (NASDAQ:FOX)

Bank of New York Mellon Corp boosted its holdings in shares of Fox Co. (NASDAQ:FOX) by 19.2% during the 4th quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 1,110,115 shares of the company’s stock after buying an additional 178,773 shares during the quarter. Bank of New York Mellon Corp owned approximately 0.24% of FOX worth $50,777,000 as of its most recent SEC filing.

Other large investors also recently bought and sold shares of the company. Yousif Capital Management LLC increased its holdings in shares of FOX by 1.1% in the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock valued at $874,000 after acquiring an additional 212 shares during the period. Victory Capital Management Inc. grew its holdings in 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. Principal Securities Inc. lifted its holdings in shares of FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after purchasing an additional 362 shares during the last quarter. Glenmede Trust Co. NA boosted its position in shares of FOX by 136.9% in the 3rd quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares in the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake 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 buying an additional 538 shares during the last quarter. Institutional investors own 26.41% of the company’s stock.

FOX Stock Down 0.1 %

NASDAQ:FOX opened at $52.57 on Thursday. The company’s 50 day moving average is $49.16 and its two-hundred day moving average is $43.56. The company has a market cap of $23.84 billion, a PE ratio of 11.26, a P/E/G ratio of 1.55 and a beta of 0.82. Fox Co. has a twelve month low of $25.82 and a twelve month high of $55.00. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last issued its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, beating analysts’ consensus estimates 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 last year, the company earned $0.34 EPS. Analysts anticipate that Fox Co. will post 4.25 EPS for the current 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 $0.27 dividend. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.05%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

Analysts Set New Price Targets

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

Insider Buying and Selling

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of FOX stock in a transaction on Friday, February 21st. The shares were sold at an average price of $53.17, for a total value of $3,083,860.00. Following the sale, the chairman now owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % decrease in their position. 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 stock in a transaction 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 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 ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by corporate insiders.

FOX 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.