Texas Permanent School Fund Corp Cuts Stake in Fox Co. (NASDAQ:FOX)

Texas Permanent School Fund Corp reduced its stake in shares of Fox Co. (NASDAQ:FOX) by 20.0% in the second quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 21,814 shares of the company’s stock after selling 5,456 shares during the quarter. Texas Permanent School Fund Corp’s holdings in FOX were worth $698,000 as of its most recent filing with the Securities and Exchange Commission (SEC).

A number of other institutional investors have also added to or reduced their stakes in the stock. Norges Bank purchased a new stake in FOX during the 4th quarter valued at approximately $70,598,000. Dimensional Fund Advisors LP boosted its position in shares of FOX by 1.0% during the 4th quarter. Dimensional Fund Advisors LP now owns 2,070,204 shares of the company’s stock valued at $57,243,000 after acquiring an additional 20,306 shares during the last quarter. Assenagon Asset Management S.A. bought a new position in shares of FOX during the 2nd quarter valued at approximately $65,709,000. Janus Henderson Group PLC boosted its position in shares of FOX by 7.8% during the 1st quarter. Janus Henderson Group PLC now owns 1,535,668 shares of the company’s stock valued at $43,953,000 after acquiring an additional 111,687 shares during the last quarter. Finally, National Bank of Canada FI boosted its position in shares of FOX by 22.0% during the 1st quarter. National Bank of Canada FI now owns 1,119,528 shares of the company’s stock valued at $34,638,000 after acquiring an additional 201,783 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Buying and Selling

In related news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction on Thursday, August 15th. The stock was 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which can be accessed through this link. In other news, COO John Nallen sold 52,874 shares of FOX 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 completion of the sale, 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 filing with the SEC, which can be accessed through the SEC website. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the firm’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 completion of the transaction, the chief executive officer now 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 corporate insiders.

Wall Street Analyst Weigh In

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

FOX Stock Down 0.7 %

NASDAQ FOX opened at $37.28 on Friday. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. The company has a market capitalization of $17.40 billion, a P/E ratio of 11.69, a P/E/G ratio of 1.90 and a beta of 0.81. Fox Co. has a one year low of $25.82 and a one year high of $38.51. The stock has a 50 day moving average price of $36.42 and a 200-day moving average price of $32.19.

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. The company had revenue of $3.09 billion during the quarter, compared to the consensus estimate of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same period last year, the company earned $0.88 earnings per share. As a group, equities analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be given a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This is an increase from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.90%. FOX’s dividend payout ratio (DPR) is currently 16.93%.

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.