Forsta AP Fonden Cuts Stock Holdings in Fox Co. (NASDAQ:FOX)

Forsta AP Fonden cut its stake in Fox Co. (NASDAQ:FOX) by 85.6% in the second quarter, according to the company in its most recent disclosure with the Securities and Exchange Commission. The firm owned 8,700 shares of the company’s stock after selling 51,900 shares during the period. Forsta AP Fonden’s holdings in FOX were worth $279,000 at the end of the most recent quarter.

Other institutional investors and hedge funds have also recently bought and sold shares of the company. Daiwa Securities Group Inc. boosted its stake in shares of FOX by 6.9% in the 2nd quarter. Daiwa Securities Group Inc. now owns 18,720 shares of the company’s stock valued at $599,000 after buying an additional 1,206 shares during the period. Andra AP fonden lifted its stake in FOX by 61.0% in the second quarter. Andra AP fonden now owns 82,100 shares of the company’s stock worth $2,629,000 after acquiring an additional 31,100 shares during the last quarter. Royal London Asset Management Ltd. grew its holdings in FOX by 0.7% during the 2nd quarter. Royal London Asset Management Ltd. now owns 52,054 shares of the company’s stock worth $1,667,000 after acquiring an additional 367 shares in the last quarter. Choreo LLC acquired a new position in FOX during the 2nd quarter worth approximately $343,000. Finally, Acadian Asset Management LLC increased its position in shares of FOX by 1,179.8% in the 2nd quarter. Acadian Asset Management LLC now owns 5,644 shares of the company’s stock valued at $180,000 after purchasing an additional 5,203 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

Insider Activity at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction dated 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 transaction, the chief operating officer now owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The sale was disclosed in a filing with the SEC, which is accessible through the SEC website. In other news, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction that occurred on 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 transaction, 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 legal filing with the SEC, which is accessible through this hyperlink. Also, CEO Lachlan K. Murdoch bought 119,705 shares of the business’s stock in a transaction dated Thursday, August 15th. The stock was acquired at an average cost 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 directly owns 1,076,407 shares in the company, 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.

Analyst Ratings Changes

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

FOX Trading Down 0.0 %

NASDAQ:FOX opened at $36.77 on Tuesday. The stock has a 50-day simple moving average of $36.07 and a 200-day simple moving average of $31.93. The stock has a market cap 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. Fox Co. has a 1 year low of $25.82 and a 1 year high of $38.51. 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 (NASDAQ:FOX) last announced 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. 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 prior year, the firm posted $0.88 earnings per share. As a group, analysts anticipate that Fox Co. will post 3.59 earnings per share 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 paid a dividend of $0.27 per share. This is a positive change from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.94%. The ex-dividend date is Wednesday, September 4th. 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.