Sone Capital Management LLC Makes New Investment in Fox Co. (NASDAQ:FOX)

Sone Capital Management LLC acquired a new stake in Fox Co. (NASDAQ:FOX) during the 4th quarter, according to its most recent disclosure with the Securities and Exchange Commission. The fund acquired 143,516 shares of the company’s stock, valued at approximately $6,564,000.

Several other hedge funds and other institutional investors have also modified their holdings of the company. Yousif Capital Management LLC boosted its stake in shares of FOX by 1.1% during the 4th quarter. Yousif Capital Management LLC now owns 19,098 shares of the company’s stock valued at $874,000 after buying an additional 212 shares during the last quarter. iA Global Asset Management Inc. raised its holdings in FOX by 5.4% in the fourth quarter. iA Global Asset Management Inc. now owns 6,801 shares of the company’s stock valued at $311,000 after acquiring an additional 350 shares in the last quarter. Principal Securities Inc. boosted its stake in FOX by 51.5% during the 4th quarter. Principal Securities Inc. now owns 1,065 shares of the company’s stock valued at $49,000 after acquiring an additional 362 shares during the last quarter. CIBC Private Wealth Group LLC grew its holdings in FOX by 135.6% during the 4th quarter. CIBC Private Wealth Group LLC now owns 907 shares of the company’s stock worth $42,000 after acquiring an additional 522 shares in the last quarter. Finally, Arizona State Retirement System grew its holdings in FOX by 1.4% during the 4th quarter. Arizona State Retirement System now owns 41,054 shares of the company’s stock worth $1,878,000 after acquiring an additional 557 shares in the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity

In related news, Chairman Keith Rupert Murdoch sold 58,000 shares of the firm’s stock in a transaction that occurred 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 sale, the chairman now 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 position. The sale was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Company insiders own 23.06% of the company’s stock.

FOX Price Performance

Shares of FOX opened at $51.85 on Monday. Fox Co. has a 52 week low of $30.10 and a 52 week high of $55.00. The company has a current ratio of 2.50, a quick ratio of 2.14 and a debt-to-equity ratio of 0.57. The firm has a market cap of $23.31 billion, a price-to-earnings ratio of 11.10, a PEG ratio of 1.55 and a beta of 0.56. The stock has a 50 day moving average of $47.61 and a 200-day moving average of $47.24.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Monday, May 12th. The company reported $1.10 EPS for the quarter, topping analysts’ consensus estimates of $0.96 by $0.14. FOX had a net margin of 14.39% and a return on equity of 18.50%. The firm had revenue of $4.37 billion during the quarter, compared to the consensus estimate of $4.19 billion. As a group, analysts forecast that Fox Co. will post 4.25 EPS for the current year.

Analysts Set New Price Targets

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

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.