California Public Employees Retirement System Acquires 29,682 Shares of Fox Co. (NASDAQ:FOX)

California Public Employees Retirement System lifted its holdings in shares of Fox Co. (NASDAQ:FOX) by 11.2% in the fourth quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The institutional investor owned 295,396 shares of the company’s stock after acquiring an additional 29,682 shares during the quarter. California Public Employees Retirement System owned approximately 0.06% of FOX worth $13,511,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors and hedge funds also recently added to or reduced their stakes in the business. Migdal Insurance & Financial Holdings Ltd. bought a new stake in FOX during the 4th quarter valued at approximately $29,000. Glenmede Trust Co. NA boosted its position in shares of FOX by 136.9% during the third quarter. Glenmede Trust Co. NA now owns 777 shares of the company’s stock valued at $30,000 after purchasing an additional 449 shares in the last quarter. Principal Securities Inc. grew its stake in FOX by 51.5% in the fourth quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock worth $49,000 after purchasing an additional 362 shares during the period. Thrivent Financial for Lutherans bought a new position in FOX in the third quarter worth $201,000. Finally, Ieq Capital LLC purchased a new position in FOX during the fourth quarter valued at $211,000. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Transactions at FOX

In other news, Chairman Keith Rupert Murdoch sold 58,000 shares of the company’s stock in a transaction on Friday, February 21st. The stock was sold at an average price of $53.17, for a total transaction of $3,083,860.00. Following the transaction, the chairman now directly owns 1,200,862 shares of the company’s stock, valued at $63,849,832.54. This represents a 4.61 % decrease in their ownership of the stock. The sale was disclosed in a document filed with the SEC, which is available through the SEC website. Also, 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 value of $69,178.14. Following the completion of the sale, the insider now owns 29,897 shares of the company’s stock, 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. Insiders own 23.06% of the company’s stock.

Wall Street Analysts Forecast Growth

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

FOX Stock Performance

Shares of FOX opened at $45.73 on Friday. The company has a quick ratio of 2.14, a current ratio of 2.50 and a debt-to-equity ratio of 0.57. The stock has a market cap of $20.74 billion, a P/E ratio of 9.79, a P/E/G ratio of 1.55 and a beta of 0.58. The business’s 50 day moving average price is $50.73 and its 200-day moving average price is $45.45. Fox Co. has a 52 week low of $27.63 and a 52 week high of $55.00.

FOX (NASDAQ:FOX) last released its earnings results on Tuesday, February 4th. The company reported $0.96 EPS for the quarter, topping 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 period in the previous year, the company earned $0.34 EPS. Equities research analysts anticipate that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

The company also recently announced a quarterly dividend, which was paid on Wednesday, March 26th. Shareholders of record on Wednesday, March 5th were issued a $0.27 dividend. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a yield of 2.36%. FOX’s dividend payout ratio (DPR) is presently 11.56%.

FOX 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.