Summit Global Investments Increases Position in Fox Co. (NASDAQ:FOX)

Summit Global Investments raised its position in shares of Fox Co. (NASDAQ:FOX) by 204.1% in the 4th quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 105,922 shares of the company’s stock after buying an additional 71,095 shares during the period. Summit Global Investments’ holdings in FOX were worth $2,929,000 as of its most recent filing with the Securities & Exchange Commission.

A number of other institutional investors have also modified their holdings of FOX. Fjarde AP Fonden Fourth Swedish National Pension Fund grew its position in FOX by 30.1% in the 3rd quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund now owns 143,601 shares of the company’s stock valued at $4,147,000 after acquiring an additional 33,200 shares in the last quarter. Xponance Inc. boosted its stake in shares of FOX by 12.7% in the third quarter. Xponance Inc. now owns 24,798 shares of the company’s stock valued at $716,000 after purchasing an additional 2,788 shares during the period. Strs Ohio grew its holdings in shares of FOX by 42.3% in the third quarter. Strs Ohio now owns 92,523 shares of the company’s stock valued at $2,672,000 after purchasing an additional 27,526 shares in the last quarter. Mirae Asset Global Investments Co. Ltd. increased its stake in FOX by 1.6% during the 3rd quarter. Mirae Asset Global Investments Co. Ltd. now owns 26,908 shares of the company’s stock worth $777,000 after buying an additional 426 shares during the period. Finally, TD Asset Management Inc lifted its holdings in FOX by 8.7% during the 3rd quarter. TD Asset Management Inc now owns 209,687 shares of the company’s stock worth $6,056,000 after buying an additional 16,700 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Wall Street Analyst Weigh In

Separately, TheStreet lowered FOX from a “b-” rating to a “c” rating in a research report on Wednesday, February 7th.

FOX Stock Up 1.1 %

Shares of FOX stock traded up $0.33 during trading hours on Friday, reaching $29.58. 717,570 shares of the stock were exchanged, compared to its average volume of 1,267,831. The business’s fifty day moving average is $27.88 and its two-hundred day moving average is $28.10. The firm has a market capitalization of $14.05 billion, a P/E ratio of 17.50 and a beta of 0.82. Fox Co. has a 12-month low of $25.82 and a 12-month high of $33.24. The company has a debt-to-equity ratio of 0.70, a current ratio of 2.29 and a quick ratio of 2.01.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Wednesday, February 7th. The company reported $0.34 EPS for the quarter, topping the consensus estimate of $0.11 by $0.23. The company had revenue of $4.23 billion during the quarter. FOX had a net margin of 5.75% and a return on equity of 15.81%. During the same quarter last year, the firm earned $0.48 EPS.

FOX Increases Dividend

The firm also recently declared a quarterly dividend, which was paid on Tuesday, March 26th. Shareholders of record on Wednesday, March 6th were paid a $0.26 dividend. The ex-dividend date of this dividend was Tuesday, March 5th. This is a boost from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 dividend on an annualized basis and a yield of 3.52%. FOX’s dividend payout ratio (DPR) is currently 30.77%.

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.