Headlands Technologies LLC Decreases Stake in Fox Co. (NASDAQ:FOX)

Headlands Technologies LLC lessened its holdings in shares of Fox Co. (NASDAQ:FOX) by 88.1% in the second quarter, according to its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,747 shares of the company’s stock after selling 12,874 shares during the quarter. Headlands Technologies LLC’s holdings in FOX were worth $56,000 at the end of the most recent reporting period.

Several other large investors have also recently modified their holdings of FOX. Royal London Asset Management Ltd. boosted its stake in FOX by 0.7% in the 2nd quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock worth $1,667,000 after purchasing an additional 367 shares during the period. State of Michigan Retirement System boosted its position in shares of FOX by 1.1% in the second quarter. State of Michigan Retirement System now owns 45,531 shares of the company’s stock valued at $1,458,000 after acquiring an additional 500 shares during the period. V Square Quantitative Management LLC grew 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 valued at $94,000 after acquiring an additional 585 shares in the last quarter. Treasurer of the State of North Carolina increased its holdings in FOX by 0.8% during the 4th quarter. Treasurer of the State of North Carolina now owns 89,496 shares of the company’s stock worth $2,475,000 after acquiring an additional 713 shares during the period. Finally, iA Global Asset Management Inc. lifted its stake in FOX by 9.5% in the 1st quarter. iA Global Asset Management Inc. now owns 8,386 shares of the company’s stock worth $240,000 after purchasing an additional 731 shares in the last quarter. Hedge funds and other institutional investors own 26.41% of the company’s stock.

Insider Buying and Selling

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

Analysts Set New Price Targets

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

FOX Stock Performance

NASDAQ FOX opened at $36.77 on Tuesday. The company has a market capitalization of $17.16 billion, a P/E ratio of 11.53, a P/E/G ratio of 1.90 and a beta of 0.81. The company has a debt-to-equity ratio of 0.61, a quick ratio of 2.33 and a current ratio of 2.54. Fox Co. has a 52-week low of $25.82 and a 52-week high of $38.51. The company has a fifty day moving average of $36.07 and a 200-day moving average of $31.93.

FOX (NASDAQ:FOX) last posted its quarterly earnings data 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 firm had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same period in the prior year, the business earned $0.88 EPS. As a group, equities research 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. Stockholders of record on Wednesday, September 4th will be paid a $0.27 dividend. This is a boost from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. This represents a $1.08 dividend on an annualized basis and a dividend yield of 2.94%. FOX’s dividend payout ratio is 16.93%.

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.