Fox Co. (NASDAQ:FOX) Shares Acquired by Edgestream Partners L.P.

Edgestream Partners L.P. increased its position in shares of Fox Co. (NASDAQ:FOX) by 867.4% during the 2nd quarter, Holdings Channel.com reports. The firm owned 304,088 shares of the company’s stock after buying an additional 272,656 shares during the quarter. FOX accounts for 0.5% of Edgestream Partners L.P.’s investment portfolio, making the stock its 13th biggest holding. Edgestream Partners L.P.’s holdings in FOX were worth $9,737,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors and hedge funds have also recently added to or reduced their stakes in FOX. Norges Bank bought a new stake in shares of FOX in the 4th quarter worth $70,598,000. Assenagon Asset Management S.A. acquired a new stake in FOX in the 2nd quarter valued at about $65,709,000. Bank of Nova Scotia boosted its position in shares of FOX by 315.5% during the 4th quarter. Bank of Nova Scotia now owns 1,052,781 shares of the company’s stock valued at $29,108,000 after purchasing an additional 799,383 shares in the last quarter. Regal Partners Ltd acquired a new position in shares of FOX in the 2nd quarter worth approximately $16,398,000. Finally, Goldman Sachs Group Inc. increased its holdings in shares of FOX by 93.3% in the fourth quarter. Goldman Sachs Group Inc. now owns 945,930 shares of the company’s stock valued at $26,155,000 after buying an additional 456,546 shares in the last quarter. 26.41% of the stock is owned by institutional investors.

Wall Street Analyst Weigh In

Separately, Seaport Res Ptn lowered FOX from a “strong-buy” rating to a “hold” rating in a research note on Monday, September 9th.

Insider Activity

In related news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The stock was sold at an average price of $38.96, for a total value of $2,059,971.04. Following the completion of the sale, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at approximately $9,717,559.04. The sale was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. In related news, COO John Nallen sold 52,874 shares of the business’s stock in a transaction that occurred on Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is accessible through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction on Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is currently owned by corporate insiders.

FOX Price Performance

NASDAQ FOX opened at $36.77 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. Fox Co. has a 1 year low of $25.82 and a 1 year high of $38.51. The company has a market cap of $17.16 billion, a PE ratio of 11.53, a PEG ratio of 1.90 and a beta of 0.81. The stock’s 50-day moving average price is $36.07 and its two-hundred day moving average price is $31.93.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same period last year, the firm posted $0.88 earnings per share. On average, analysts predict that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Stockholders of record on Wednesday, September 4th will be issued a $0.27 dividend. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.94%. This is a positive change from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio is presently 16.93%.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). 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 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.