Tower Research Capital LLC TRC Has $968,000 Stock Position in Fox Co. (NASDAQ:FOX)

Tower Research Capital LLC TRC grew its position in shares of Fox Co. (NASDAQ:FOX - Free Report) by 626.9% in the 4th quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The fund owned 21,174 shares of the company's stock after buying an additional 18,261 shares during the quarter. Tower Research Capital LLC TRC's holdings in FOX were worth $968,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other hedge funds have also recently added to or reduced their stakes in FOX. Norges Bank bought a new stake in shares of FOX during the 4th quarter worth about $138,822,000. Contrarius Group Holdings Ltd bought a new stake in FOX during the fourth quarter worth approximately $57,766,000. Assenagon Asset Management S.A. grew its holdings in FOX by 58.4% during the fourth quarter. Assenagon Asset Management S.A. now owns 2,970,917 shares of the company's stock valued at $135,890,000 after purchasing an additional 1,095,073 shares during the last quarter. Wedge Capital Management L L P NC bought a new position in shares of FOX in the fourth quarter valued at approximately $48,606,000. Finally, Independent Franchise Partners LLP lifted its stake in shares of FOX by 15.4% in the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company's stock worth $261,010,000 after buying an additional 759,874 shares during the last quarter. Institutional investors and hedge funds own 26.41% of the company's stock.

Insider Activity

In other news, insider Adam G. Ciongoli sold 1,278 shares of the business's stock in a transaction that occurred on Wednesday, February 5th. The stock was sold at an average price of $54.13, for a total transaction of $69,178.14. Following the sale, the insider now directly owns 29,897 shares in the company, valued at approximately $1,618,324.61. The trade was a 4.10 % decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through the SEC website. Also, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm's 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 transaction, the chairman now directly owns 1,200,862 shares of the company's stock, valued at approximately $63,849,832.54. This trade represents a 4.61 % 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.

Analyst Ratings Changes

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

FOX Stock Performance

NASDAQ:FOX traded down $0.19 during mid-day trading on Thursday, hitting $46.05. 538,051 shares of the company's stock traded hands, compared to its average volume of 1,236,623. The firm has a market capitalization of $20.88 billion, a price-to-earnings ratio of 9.86, a price-to-earnings-growth ratio of 1.55 and a beta of 0.58. The firm has a 50 day moving average of $48.62 and a two-hundred day moving average of $46.33. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. Fox Co. has a 12 month low of $28.77 and a 12 month high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings data on Tuesday, February 4th. The company reported $0.96 earnings per share 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 period in the previous year, the business earned $0.34 earnings per share. On average, equities analysts forecast that Fox Co. will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The business also recently disclosed a quarterly dividend, which was paid on Wednesday, March 26th. Stockholders of record on Wednesday, March 5th were issued a dividend of $0.27 per share. The ex-dividend date was Wednesday, March 5th. This represents a $1.08 annualized dividend and a dividend yield of 2.35%. FOX's payout ratio is 11.56%.

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.