Forsta AP Fonden Lowers Holdings in Fox Co. (NASDAQ:FOX)

Forsta AP Fonden lowered its stake in shares of Fox Co. (NASDAQ:FOX) by 85.6% in the second quarter, according to its most recent 13F filing with the SEC. The fund owned 8,700 shares of the company’s stock after selling 51,900 shares during the period. Forsta AP Fonden’s holdings in FOX were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also modified their holdings of the company. Blue Trust Inc. boosted its position in FOX by 692.1% during the second quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares in the last quarter. Friedenthal Financial acquired a new stake in FOX in the 2nd quarter valued at $51,000. V Square Quantitative Management LLC increased its holdings in FOX by 20.8% in the 4th quarter. V Square Quantitative Management LLC now owns 3,391 shares of the company’s stock worth $94,000 after acquiring an additional 585 shares in the last quarter. Central Pacific Bank Trust Division acquired a new position in FOX during the first quarter worth $97,000. Finally, GAMMA Investing LLC lifted its holdings in FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock valued at $113,000 after purchasing an additional 2,569 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company’s stock.

FOX Stock Down 0.0 %

Shares of NASDAQ FOX opened at $36.77 on Tuesday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company has a 50-day moving average of $36.07 and a 200 day moving average of $31.93. The stock has a market cap of $17.16 billion, a PE ratio of 11.53, a P/E/G ratio of 1.90 and a beta of 0.81. Fox Co. has a 12-month low of $25.82 and a 12-month high of $38.51.

FOX (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, beating the consensus estimate of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the company posted $0.88 EPS. As a group, sell-side analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The firm also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.94%. This is an increase from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the stock in a transaction dated Thursday, August 15th. The shares were sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the completion of the transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a legal filing with the SEC, which is available at this link. In other FOX news, COO John Nallen sold 52,874 shares of the company’s stock in a transaction on Thursday, August 15th. The stock was sold at an average price of $38.96, for a total transaction of $2,059,971.04. Following the transaction, the chief operating officer now directly owns 249,424 shares in the company, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the company’s stock in a transaction dated Thursday, August 15th. The stock was purchased at an average cost of $39.06 per share, with a total value of $4,675,677.30. Following the completion of the purchase, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. 19.21% of the stock is owned by insiders.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn downgraded shares of FOX from a “strong-buy” rating to a “hold” rating in a research report on Monday, September 9th.

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.