Fox Co. (NASDAQ:FOX) Shares Sold by Point72 Asset Management L.P.

Point72 Asset Management L.P. lowered its holdings in shares of Fox Co. (NASDAQ:FOX) by 93.8% in the second quarter, according to the company in its most recent filing with the Securities and Exchange Commission (SEC). The firm owned 31,497 shares of the company’s stock after selling 476,703 shares during the period. Point72 Asset Management L.P.’s holdings in FOX were worth $1,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors also recently bought and sold shares of the company. Treasurer of the State of North Carolina grew its stake in shares of FOX by 0.8% in the 4th 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 last quarter. Royal London Asset Management Ltd. grew its position in FOX by 1.5% in the 4th quarter. Royal London Asset Management Ltd. now owns 52,522 shares of the company’s stock valued at $1,452,000 after buying an additional 790 shares during the last quarter. Cibc World Markets Corp purchased a new position in FOX during the 4th quarter worth $2,557,000. Seven Eight Capital LP purchased a new position in FOX during the 4th quarter worth $685,000. Finally, Neuberger Berman Group LLC lifted its stake in shares of FOX by 57.1% in the 4th quarter. Neuberger Berman Group LLC now owns 33,849 shares of the company’s stock worth $936,000 after acquiring an additional 12,307 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Down 0.5 %

FOX stock opened at $38.49 on Friday. The stock’s 50 day moving average price is $37.18 and its 200 day moving average price is $32.90. Fox Co. has a 1-year low of $25.82 and a 1-year high of $39.15. The company has a market cap of $17.96 billion, a PE ratio of 12.07, a price-to-earnings-growth ratio of 1.97 and a beta of 0.81. 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 earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, topping the consensus estimate of $0.87 by $0.03. The company had revenue of $3.09 billion for the quarter, compared to analyst estimates of $3.10 billion. FOX had a net margin of 10.74% and a return on equity of 15.57%. During the same period in the previous year, the firm earned $0.88 EPS. On average, sell-side analysts predict that Fox Co. will post 3.59 EPS for the current fiscal year.

FOX Increases Dividend

The business also recently announced a quarterly dividend, which was paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th were issued a $0.27 dividend. The ex-dividend date was Wednesday, September 4th. This is a boost from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 dividend on an annualized basis and a yield of 2.81%. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Activity

In other news, CEO Lachlan K. Murdoch purchased 119,705 shares of the stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average price of $39.06 per share, for a total transaction of $4,675,677.30. Following the acquisition, the chief executive officer now directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The acquisition was disclosed in a legal filing with the SEC, which is available through this hyperlink. In other FOX news, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm’s stock in a transaction that occurred on Thursday, August 15th. The shares were acquired at an average cost of $39.06 per share, for a total transaction of $4,675,677.30. Following the transaction, the chief executive officer now directly owns 1,076,407 shares of the company’s stock, valued at $42,044,457.42. The purchase was disclosed in a document filed with the SEC, which can be accessed through this hyperlink. Also, 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 directly owns 249,424 shares in the company, valued at $9,717,559.04. The disclosure for this sale can be found here. Insiders own 19.21% of the company’s stock.

Wall Street Analysts Forecast Growth

Separately, Seaport Res Ptn cut shares of 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.