Fox Co. (NASDAQ:FOX) Stake Reduced by Arlington Partners LLC

Arlington Partners LLC reduced its stake in Fox Co. (NASDAQ:FOX) by 1.6% during the fourth quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 106,099 shares of the company’s stock after selling 1,755 shares during the period. FOX comprises 1.9% of Arlington Partners LLC’s investment portfolio, making the stock its 3rd largest position. Arlington Partners LLC’s holdings in FOX were worth $4,853,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

Other large investors have also recently made changes to their positions in the company. Janus Henderson Group PLC grew its position in shares of FOX by 15.2% in the 3rd quarter. Janus Henderson Group PLC now owns 1,716,165 shares of the company’s stock worth $66,582,000 after buying an additional 226,867 shares during the last quarter. Summit Global Investments bought a new stake in shares of FOX in the 3rd quarter worth approximately $768,000. Barclays PLC grew its position in shares of FOX by 3.6% in the 3rd quarter. Barclays PLC now owns 540,789 shares of the company’s stock worth $20,982,000 after buying an additional 18,802 shares during the last quarter. Algert Global LLC bought a new stake in shares of FOX during the third quarter valued at approximately $2,561,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its position in shares of FOX by 448.4% during the third quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 712,900 shares of the company’s stock valued at $27,661,000 after purchasing an additional 582,900 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

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

FOX Stock Down 0.7 %

Shares of NASDAQ:FOX opened at $50.10 on Monday. The stock has a fifty day simple moving average of $46.46 and a two-hundred day simple moving average of $41.42. The stock has a market capitalization of $22.88 billion, a price-to-earnings ratio of 10.73, a PEG ratio of 1.47 and a beta of 0.82. Fox Co. has a 12-month low of $25.82 and a 12-month high of $52.54. The company has a current ratio of 2.50, a quick ratio of 2.33 and a debt-to-equity ratio of 0.57.

FOX (NASDAQ:FOX) last announced its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (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 quarter in the previous year, the business earned $0.34 earnings per share. On average, research analysts anticipate that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The firm also recently declared a quarterly dividend, which will be paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th will be paid a $0.27 dividend. This represents a $1.08 annualized dividend and a dividend yield of 2.16%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is currently 11.56%.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 771,024 shares of the business’s stock in a transaction on Tuesday, November 26th. The stock was sold at an average price of $46.07, for a total value of $35,521,075.68. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which is available at this link. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total value of $69,178.14. Following the completion of the transaction, the insider now owns 29,897 shares of the company’s stock, valued at $1,618,324.61. This represents a 4.10 % decrease in their position. The disclosure for this sale can be found here. Company insiders own 23.06% of the company’s stock.

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.