Zurcher Kantonalbank Zurich Cantonalbank Reduces Stock Position in Fox Co. (NASDAQ:FOX)

Zurcher Kantonalbank Zurich Cantonalbank trimmed its stake in shares of Fox Co. (NASDAQ:FOX) by 11.0% in the 4th quarter, according to its most recent disclosure with the Securities & Exchange Commission. The fund owned 414,442 shares of the company’s stock after selling 51,409 shares during the period. Zurcher Kantonalbank Zurich Cantonalbank owned approximately 0.09% of FOX worth $18,957,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOX. Yousif Capital Management LLC raised its stake in FOX by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock valued at $874,000 after buying an additional 212 shares during the last quarter. Victory Capital Management Inc. increased its position in FOX by 0.6% during the third quarter. Victory Capital Management Inc. now owns 46,645 shares of the company’s stock valued at $1,810,000 after acquiring an additional 300 shares during the last quarter. Principal Securities Inc. lifted its holdings in FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after acquiring an additional 362 shares during the period. Glenmede Trust Co. NA boosted its position in FOX by 136.9% in the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock worth $30,000 after purchasing an additional 449 shares during the last quarter. Finally, Nomura Asset Management Co. Ltd. grew its stake in shares of FOX by 0.7% during the 3rd quarter. Nomura Asset Management Co. Ltd. now owns 76,825 shares of the company’s stock valued at $2,981,000 after purchasing an additional 538 shares during the period. Institutional investors own 26.41% of the company’s stock.

Insiders Place Their Bets

In other FOX news, Chairman Keith Rupert Murdoch sold 58,000 shares of the stock in a transaction on 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 completion of the sale, the chairman now owns 1,200,862 shares in the company, valued at approximately $63,849,832.54. This represents a 4.61 % decrease in their position. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. Also, insider Adam G. Ciongoli sold 1,278 shares of the business’s stock in a transaction dated Wednesday, February 5th. The shares were 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 in the company, valued at $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The disclosure for this sale can be found here. 23.06% of the stock is owned by company insiders.

FOX Trading Down 2.0 %

Shares of FOX stock opened at $48.99 on Wednesday. The company has a debt-to-equity ratio of 0.57, a current ratio of 2.50 and a quick ratio of 2.14. The company has a market cap of $22.21 billion, a price-to-earnings ratio of 10.49, a PEG ratio of 1.55 and a beta of 0.74. Fox Co. has a 1 year low of $26.56 and a 1 year high of $55.00. The firm has a fifty day moving average price of $49.49 and a 200-day moving average price of $43.97.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, February 4th. The company reported $0.96 earnings per share (EPS) for the quarter, beating the consensus estimate 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 last year, the firm earned $0.34 earnings per share. As a group, equities analysts predict that Fox Co. will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, March 26th. Investors of record on Wednesday, March 5th will be issued a $0.27 dividend. This represents a $1.08 annualized dividend and a yield of 2.20%. The ex-dividend date of this dividend is Wednesday, March 5th. FOX’s dividend payout ratio is 11.56%.

Analyst Upgrades and Downgrades

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

FOX Company Profile

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.