Truvestments Capital LLC acquired a new position in Fox Corp (NASDAQ:FOX) during the third quarter, Holdings Channel.com reports. The firm acquired 1,334 shares of the company’s stock, valued at approximately $42,000.
Several other large investors have also added to or reduced their stakes in the company. Everence Capital Management Inc. acquired a new stake in FOX during the third quarter valued at $320,000. Arden Trust Co acquired a new stake in FOX during the third quarter valued at $419,000. Moon Capital Management LLC acquired a new stake in FOX during the third quarter valued at $727,000. State of Alaska Department of Revenue acquired a new stake in FOX during the third quarter valued at $910,000. Finally, Gulf International Bank UK Ltd acquired a new stake in FOX during the third quarter valued at $1,046,000. Hedge funds and other institutional investors own 23.58% of the company’s stock.
FOX stock traded up $0.98 during midday trading on Friday, hitting $31.40. 72,635 shares of the stock traded hands, compared to its average volume of 1,043,110. The company has a quick ratio of 3.12, a current ratio of 3.78 and a debt-to-equity ratio of 0.68. Fox Corp has a 1-year low of $29.61 and a 1-year high of $41.73. The stock’s fifty day simple moving average is $32.18 and its 200-day simple moving average is $35.23.
The business also recently disclosed a quarterly dividend, which was paid on Wednesday, October 2nd. Shareholders of record on Wednesday, September 4th were issued a dividend of $0.23 per share. This represents a $0.92 annualized dividend and a yield of 2.93%. This is an increase from FOX’s previous quarterly dividend of $0.18. The ex-dividend date of this dividend was Tuesday, September 3rd.
Several analysts recently commented on the stock. BidaskClub lowered shares of FOX from a “hold” rating to a “sell” rating in a research report on Friday, September 20th. Goldman Sachs Group assumed coverage on shares of FOX in a research report on Wednesday, June 26th. They set a “buy” rating and a $46.00 price target on the stock. Finally, Zacks Investment Research lowered shares of FOX from a “hold” rating to a “sell” rating in a research report on Wednesday, August 21st. Three investment analysts have rated the stock with a sell rating, one has issued a hold rating and one has assigned a buy rating to the company’s stock. FOX presently has an average rating of “Hold” and an average target price of $42.67.
In related news, Chairman Keith Rupert Murdoch acquired 500,000 shares of the firm’s stock in a transaction on Wednesday, August 28th. The shares were acquired at an average cost of $32.06 per share, with a total value of $16,030,000.00. Following the completion of the acquisition, the chairman now directly owns 805,714 shares in the company, valued at approximately $25,831,190.84. The transaction was disclosed in a legal filing with the SEC, which is available through the SEC website. Also, Director Roland A. Hernandez acquired 3,000 shares of the firm’s stock in a transaction on Monday, August 12th. The shares were bought at an average cost of $34.91 per share, for a total transaction of $104,730.00. The disclosure for this purchase can be found here. Company insiders own 17.47% of the company’s stock.
FOX Company Profile
Fox Corporation operates as a news, sports, and entertainment company in the United States. 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 primarily through cable television systems, direct broadcast satellite operators, telecommunications companies, and online video distributors.
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