Fox Co. (NASDAQ:FOX) Shares Bought by Independent Franchise Partners LLP

Independent Franchise Partners LLP grew its holdings in Fox Co. (NASDAQ:FOX) by 14.5% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The fund owned 5,023,830 shares of the company’s stock after purchasing an additional 636,247 shares during the quarter. FOX makes up approximately 1.5% of Independent Franchise Partners LLP’s portfolio, making the stock its 19th largest holding. Independent Franchise Partners LLP owned 1.08% of FOX worth $160,863,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of FOX. Blue Trust Inc. boosted its stake in shares of FOX by 692.1% during the 2nd quarter. Blue Trust Inc. now owns 1,410 shares of the company’s stock worth $45,000 after purchasing an additional 1,232 shares during the last quarter. Friedenthal Financial purchased a new stake in FOX in the 2nd quarter worth approximately $51,000. V Square Quantitative Management LLC raised 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 valued at $94,000 after acquiring an additional 585 shares during the last quarter. Central Pacific Bank Trust Division purchased a new position in shares of FOX during the 1st quarter worth $97,000. Finally, GAMMA Investing LLC boosted its holdings in shares of FOX by 267.9% during the second quarter. GAMMA Investing LLC now owns 3,528 shares of the company’s stock worth $113,000 after purchasing an additional 2,569 shares during the last quarter. 26.41% of the stock is owned by hedge funds and other institutional investors.

Wall Street Analysts Forecast Growth

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

Insider Buying and Selling at FOX

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

FOX Trading Down 0.7 %

Shares of FOX stock opened at $37.28 on Friday. The firm’s 50-day simple moving average is $36.42 and its 200-day simple moving average is $32.19. 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 Co. has a 1-year low of $25.82 and a 1-year high of $38.51. The firm has a market cap of $17.40 billion, a P/E ratio of 11.69, a PEG 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 earnings per share for the quarter, topping analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same quarter last year, the firm posted $0.88 earnings per share. As a group, equities analysts forecast that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The company also recently announced a quarterly dividend, which will be paid on Wednesday, September 25th. Investors of record on Wednesday, September 4th will be issued a $0.27 dividend. 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 2.90%. This is a boost from FOX’s previous quarterly dividend of $0.26. FOX’s dividend payout ratio (DPR) is presently 16.93%.

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.