Summit Global Investments Buys 71,095 Shares of Fox Co. (NASDAQ:FOX)

Summit Global Investments boosted its stake in Fox Co. (NASDAQ:FOX) by 204.1% in the fourth quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund owned 105,922 shares of the company’s stock after purchasing an additional 71,095 shares during the quarter. Summit Global Investments’ holdings in FOX were worth $2,929,000 as of its most recent SEC filing.

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

FOX Trading Up 1.1 %

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

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

FOX Increases Dividend

The business 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. This is an increase from FOX’s previous quarterly dividend of $0.24. This represents a $1.04 annualized dividend and a yield of 3.52%. The ex-dividend date was Tuesday, March 5th. FOX’s payout ratio is 30.77%.

Analyst Upgrades and Downgrades

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

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.