Raymond James Financial Inc. Purchases New Shares in Fox Co. (NASDAQ:FOX)

Raymond James Financial Inc. acquired a new position in shares of Fox Co. (NASDAQ:FOX) during the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission. The firm acquired 28,319 shares of the company’s stock, valued at approximately $1,295,000.

A number of other hedge funds and other institutional investors also recently modified their holdings of the company. Norges Bank acquired a new stake in shares of FOX during the 4th quarter worth $138,822,000. Contrarius Group Holdings Ltd bought a new position in FOX in the 4th quarter valued at about $57,766,000. Assenagon Asset Management S.A. raised its position in shares of FOX by 58.4% in the 4th quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company’s stock valued at $135,890,000 after buying an additional 1,095,073 shares in the last quarter. Wedge Capital Management L L P NC acquired a new stake in shares of FOX during the 4th quarter worth approximately $48,606,000. Finally, Amundi increased its stake in FOX by 83.0% in the fourth quarter. Amundi now owns 1,549,002 shares of the company’s stock valued at $72,199,000 after acquiring an additional 702,561 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

Insiders Place Their Bets

In other FOX news, insider Adam G. Ciongoli sold 1,278 shares of FOX stock in a transaction dated Wednesday, February 5th. The stock was 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 of the company’s stock, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their position. The sale was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction dated 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 completion of the sale, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at approximately $63,849,832.54. The trade was a 4.61 % decrease in their position. The disclosure for this sale can be found here. Insiders own 23.06% of the company’s stock.

Analyst Upgrades and Downgrades

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

FOX Stock Up 0.7 %

Shares of NASDAQ FOX opened at $46.17 on Friday. The company has a market cap of $20.93 billion, a price-to-earnings ratio of 9.89, a PEG ratio of 1.55 and a beta of 0.57. 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 12 month low of $29.27 and a 12 month high of $55.00. The stock has a 50-day moving average price of $48.31 and a two-hundred day moving average price of $46.49.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, topping 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 quarter in the previous year, the business posted $0.34 earnings per share. As a group, analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th were given a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 dividend on an annualized basis and a yield of 2.34%. FOX’s dividend payout ratio is currently 11.56%.

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.