Mercer Global Advisors Inc. ADV Sells 12,313 Shares of Fox Co. (NASDAQ:FOX)

Mercer Global Advisors Inc. ADV trimmed its position in Fox Co. (NASDAQ:FOX) by 11.5% during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 94,728 shares of the company’s stock after selling 12,313 shares during the period. Mercer Global Advisors Inc. ADV’s holdings in FOX were worth $3,040,000 as of its most recent filing with the SEC.

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

Wall Street Analysts Forecast Growth

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

FOX Trading Down 0.7 %

NASDAQ FOX opened at $37.28 on Monday. Fox Co. has a 12 month low of $25.82 and a 12 month high of $38.51. The stock has a 50-day simple moving average of $36.42 and a 200 day simple moving average of $32.24. The company has a current ratio of 2.54, a quick ratio of 2.33 and a debt-to-equity ratio of 0.61. The company has a market capitalization of $17.40 billion, a PE ratio of 11.69, a P/E/G ratio of 1.90 and a beta of 0.81.

FOX (NASDAQ:FOX) last announced its quarterly earnings results on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. FOX had a return on equity of 15.57% and a net margin of 10.74%. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. During the same period in the prior year, the business posted $0.88 EPS. Research 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. Shareholders of record on Wednesday, September 4th will be issued a $0.27 dividend. The ex-dividend date is Wednesday, September 4th. 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 2.90%. FOX’s dividend payout ratio (DPR) is 16.93%.

Insider Transactions at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the business’s 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 transaction, the chief operating officer now directly owns 249,424 shares of the company’s stock, valued at $9,717,559.04. The transaction was disclosed in a legal filing with the SEC, which can be accessed through this hyperlink. In related news, CEO Lachlan K. Murdoch acquired 119,705 shares of the stock in a transaction dated Thursday, August 15th. The stock was bought at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the completion of 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 transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Also, COO John Nallen sold 52,874 shares of the firm’s stock in a transaction 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 sale, the chief operating officer now 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.

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.