Choreo LLC Takes $343,000 Position in Fox Co. (NASDAQ:FOX)

Choreo LLC bought a new position in Fox Co. (NASDAQ:FOX) during the second quarter, according to its most recent filing with the Securities and Exchange Commission (SEC). The fund bought 10,773 shares of the company’s stock, valued at approximately $343,000.

A number of other hedge funds and other institutional investors also recently added to or reduced their stakes in FOX. State of Michigan Retirement System increased its holdings in shares of FOX by 1.1% in the 2nd quarter. State of Michigan Retirement System now owns 45,531 shares of the company’s stock worth $1,458,000 after buying an additional 500 shares during the last quarter. V Square Quantitative Management LLC increased its stake in FOX by 20.8% during the fourth 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 during the last quarter. Treasurer of the State of North Carolina raised its position in FOX by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 89,496 shares of the company’s stock valued at $2,475,000 after purchasing an additional 713 shares during the period. iA Global Asset Management Inc. lifted its stake in shares of FOX by 9.5% in the 1st quarter. iA Global Asset Management Inc. now owns 8,386 shares of the company’s stock valued at $240,000 after purchasing an additional 731 shares during the last quarter. Finally, Daiwa Securities Group Inc. boosted its holdings in shares of FOX by 4.7% in the 1st quarter. Daiwa Securities Group Inc. now owns 17,514 shares of the company’s stock worth $501,000 after purchasing an additional 787 shares during the period. 26.41% of the stock is owned by institutional investors.

FOX Stock Up 1.8 %

Shares of NASDAQ:FOX opened at $37.44 on Wednesday. The firm has a market capitalization of $17.47 billion, a PE ratio of 11.74, a price-to-earnings-growth ratio of 1.90 and a beta of 0.81. The business has a 50 day simple moving average of $36.16 and a two-hundred day simple moving average of $32.00. Fox Co. has a 1 year low of $25.82 and a 1 year high of $38.51. The company has a debt-to-equity ratio of 0.61, a current ratio of 2.54 and a quick ratio of 2.33.

FOX (NASDAQ:FOX) last issued its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.57% and a net margin of 10.74%. The firm had revenue of $3.09 billion during the quarter, compared to analyst estimates of $3.10 billion. During the same period last year, the company earned $0.88 EPS. On average, equities analysts predict that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a dividend of $0.27 per share. This is a positive change from FOX’s previous quarterly dividend of $0.26. The ex-dividend date of this dividend is Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.88%. FOX’s dividend payout ratio (DPR) is presently 16.93%.

Insider Buying and Selling at FOX

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

Analysts Set New Price Targets

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

About FOX

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.