Keith Rupert Murdoch Sells 58,000 Shares of Fox Co. (NASDAQ:FOX) Stock

Fox Co. (NASDAQ:FOX) Chairman Keith Rupert Murdoch sold 58,000 shares of FOX 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 sale, the chairman now owns 1,200,862 shares in the company, valued at $63,849,832.54. This trade represents a 4.61 % decrease in their position. The transaction was disclosed in a filing with the SEC, which is accessible through this hyperlink.

FOX Stock Performance

Shares of FOX stock traded down $0.95 during trading on Tuesday, reaching $53.28. The company’s stock had a trading volume of 1,441,208 shares, compared to its average volume of 1,145,636. The firm has a market cap of $24.16 billion, a PE ratio of 11.41, a P/E/G ratio of 1.55 and a beta of 0.82. The company has a 50-day moving average price of $48.25 and a two-hundred day moving average price of $42.78. 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 Co. has a fifty-two week low of $25.82 and a fifty-two week high of $54.53.

FOX (NASDAQ:FOX) last posted its quarterly earnings data 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 net margin of 14.39% and a return on equity of 18.50%. During the same period last year, the firm earned $0.34 EPS. On average, analysts forecast that Fox Co. will post 4.25 EPS for the current year.

FOX Announces Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th will be given a dividend of $0.27 per share. The ex-dividend date is Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.03%. FOX’s payout ratio is 11.56%.

Wall Street Analyst Weigh In

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

Institutional Inflows and Outflows

Several hedge funds and other institutional investors have recently modified their holdings of the stock. IFM Investors Pty Ltd grew its position in FOX by 42.0% in the 3rd quarter. IFM Investors Pty Ltd now owns 29,053 shares of the company’s stock valued at $1,127,000 after buying an additional 8,599 shares during the last quarter. Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FOX by 28.6% in the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 13,010 shares of the company’s stock worth $505,000 after acquiring an additional 2,892 shares during the period. DekaBank Deutsche Girozentrale boosted its holdings in shares of FOX by 74.4% in the third quarter. DekaBank Deutsche Girozentrale now owns 46,471 shares of the company’s stock valued at $1,773,000 after acquiring an additional 19,832 shares in the last quarter. State of Alaska Department of Revenue increased its stake in shares of FOX by 3.1% during the third quarter. State of Alaska Department of Revenue now owns 34,314 shares of the company’s stock worth $1,331,000 after acquiring an additional 1,040 shares during the period. Finally, New York State Teachers Retirement System raised its holdings in FOX by 7.8% during the third quarter. New York State Teachers Retirement System now owns 174,824 shares of the company’s stock worth $6,783,000 after purchasing an additional 12,656 shares in the last quarter. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

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.