Independent Franchise Partners LLP Purchases New Stake in Fox Co. (NASDAQ:FOX)

Independent Franchise Partners LLP purchased a new stake in shares of Fox Co. (NASDAQ:FOX) in the 2nd quarter, according to the company in its most recent disclosure with the SEC. The firm purchased 3,496,885 shares of the company’s stock, valued at approximately $111,516,000. FOX comprises about 0.9% of Independent Franchise Partners LLP’s investment portfolio, making the stock its 22nd biggest position. Independent Franchise Partners LLP owned approximately 0.69% of FOX at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FOX. Nomura Holdings Inc. lifted its holdings in FOX by 258.0% during the 1st quarter. Nomura Holdings Inc. now owns 5,403,041 shares of the company’s stock worth $169,169,000 after purchasing an additional 3,893,625 shares during the last quarter. Norges Bank bought a new stake in shares of FOX in the fourth quarter valued at about $78,611,000. Envestnet Asset Management Inc. boosted its position in shares of FOX by 1,548.4% in the first quarter. Envestnet Asset Management Inc. now owns 2,854,859 shares of the company’s stock valued at $8,636,000 after acquiring an additional 2,681,665 shares during the period. Contrarius Investment Management Ltd acquired a new position in shares of FOX in the first quarter valued at about $52,190,000. Finally, Bank of America Corp DE increased its position in FOX by 200.4% during the first quarter. Bank of America Corp DE now owns 1,976,434 shares of the company’s stock worth $61,882,000 after acquiring an additional 1,318,584 shares during the period. 24.56% of the stock is owned by institutional investors.

FOX Stock Performance

NASDAQ FOX traded up $0.24 during trading on Monday, reaching $28.67. The company’s stock had a trading volume of 417,192 shares, compared to its average volume of 1,166,280. The firm has a 50 day moving average price of $28.52 and a 200 day moving average price of $29.88. Fox Co. has a 12 month low of $26.20 and a 12 month high of $34.42. The firm has a market capitalization of $13.84 billion, a price-to-earnings ratio of 13.94 and a beta of 0.92. The company has a current ratio of 2.02, a quick ratio of 1.81 and a debt-to-equity ratio of 0.57.

Insider Activity

In other FOX news, insider Keith Rupert Murdoch sold 100,000 shares of FOX stock in a transaction on Friday, September 15th. The stock was sold at an average price of $31.90, for a total value of $3,190,000.00. Following the completion of the transaction, the insider now directly owns 128,964 shares of the company’s stock, valued at approximately $4,113,951.60. The sale was disclosed in a legal filing with the Securities & Exchange Commission, which is available through this hyperlink. 19.21% of the stock is owned by company insiders.

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.