Lachlan K. Murdoch Purchases 119,705 Shares of Fox Co. (NASDAQ:FOX) Stock

Fox Co. (NASDAQ:FOX) CEO Lachlan K. Murdoch bought 119,705 shares of FOX stock in a transaction on Thursday, August 15th. The stock was acquired at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the acquisition, the chief executive officer now owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The purchase was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website.

FOX Trading Up 1.3 %

Shares of FOX stock opened at $36.76 on Monday. The firm has a 50-day moving average price of $33.63 and a 200 day moving average price of $30.50. Fox Co. has a twelve month low of $25.82 and a twelve month high of $37.13. The company has a market capitalization of $17.16 billion, a price-to-earnings ratio of 11.52, a PEG ratio of 5.71 and a beta of 0.82. The company has a current ratio of 3.24, a quick ratio of 2.94 and a debt-to-equity ratio of 0.67.

FOX (NASDAQ:FOX) last announced its earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. FOX had a net margin of 11.19% and a return on equity of 15.90%. The firm had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. During the same quarter in the previous year, the company posted $0.88 EPS. Research analysts forecast that Fox Co. will post 3.32 earnings per share for the current fiscal year.

FOX Increases Dividend

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

Institutional Trading of FOX

Hedge funds and other institutional investors have recently added to or reduced their stakes in the business. Livforsakringsbolaget Skandia Omsesidigt grew its holdings in FOX by 286.7% in the 4th quarter. Livforsakringsbolaget Skandia Omsesidigt now owns 1,160 shares of the company’s stock valued at $32,000 after buying an additional 860 shares during the period. Blue Trust Inc. grew its holdings in shares of FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares during the period. Friedenthal Financial purchased a new stake in shares of FOX during the 2nd quarter worth about $51,000. GAMMA Investing LLC purchased a new stake in shares of FOX during the 4th quarter worth about $54,000. Finally, CWM LLC grew its holdings in shares of FOX by 27.9% during the 4th quarter. CWM LLC now owns 2,486 shares of the company’s stock worth $69,000 after purchasing an additional 543 shares during the period. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn raised FOX from a “hold” rating to a “strong-buy” rating in a research note on Thursday, May 9th.

FOX Company 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.