State of New Jersey Common Pension Fund D Cuts Stock Holdings in Fox Co. (NASDAQ:FOX)

State of New Jersey Common Pension Fund D decreased its stake in shares of Fox Co. (NASDAQ:FOX) by 32.4% during the second quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The firm owned 105,150 shares of the company’s stock after selling 50,341 shares during the period. State of New Jersey Common Pension Fund D’s holdings in FOX were worth $3,367,000 at the end of the most recent reporting period.

Other hedge funds and other institutional investors also recently added to or reduced their stakes in the company. Blue Trust Inc. lifted its position in FOX by 692.1% during the second 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 period. Friedenthal Financial bought a new position in FOX during the second quarter valued at approximately $51,000. V Square Quantitative Management LLC lifted its position 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 purchasing an additional 585 shares during the period. Central Pacific Bank Trust Division bought a new position in FOX during the first quarter valued at approximately $97,000. Finally, TFO Wealth Partners LLC lifted its position in FOX by 67,566.7% during the fourth quarter. TFO Wealth Partners LLC now owns 4,060 shares of the company’s stock valued at $112,000 after purchasing an additional 4,054 shares during the period. Institutional investors own 26.41% of the company’s stock.

Wall Street Analyst Weigh In

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

Insiders Place Their Bets

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

FOX Stock Up 1.8 %

FOX opened at $37.44 on Wednesday. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. Fox Co. has a 1-year low of $25.82 and a 1-year high of $38.51. The company has a market capitalization of $17.47 billion, a PE ratio of 11.74, a PEG ratio of 1.90 and a beta of 0.81. The firm’s 50 day simple moving average is $36.16 and its two-hundred day simple moving average is $32.00.

FOX (NASDAQ:FOX) last released its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 earnings per share for the quarter, topping the consensus estimate of $0.87 by $0.03. FOX had a net margin of 10.74% and a return on equity of 15.57%. The business had revenue of $3.09 billion for the quarter, compared to the consensus estimate of $3.10 billion. During the same period last year, the firm earned $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 firm also recently declared a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. This is an increase from FOX’s previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.88%. 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.