Fox Co. (NASDAQ:FOX) Position Lessened by Mercer Global Advisors Inc. ADV

Mercer Global Advisors Inc. ADV decreased its position in shares of Fox Co. (NASDAQ:FOX) by 11.5% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The fund owned 94,728 shares of the company’s stock after selling 12,313 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in FOX were worth $3,040,000 at the end of the most recent reporting period.

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

FOX Stock Down 0.7 %

Shares of FOX opened at $37.28 on Monday. 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 50-day simple moving average of $36.42 and a 200-day simple moving average of $32.24. Fox Co. has a 52 week low of $25.82 and a 52 week high of $38.51. The firm 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 (NASDAQ:FOX) last posted its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate 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 analysts’ expectations of $3.10 billion. During the same quarter in the prior year, the firm posted $0.88 EPS. On average, equities research analysts expect that Fox Co. will post 3.59 earnings per share for the current year.

FOX Increases Dividend

The firm also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be paid a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a yield of 2.90%. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s payout ratio is presently 16.93%.

Insider Buying and Selling

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

Analyst Upgrades and Downgrades

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

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.