Hsbc Holdings PLC Sells 16,702 Shares of Fox Co. (NASDAQ:FOX)

Hsbc Holdings PLC reduced its holdings in Fox Co. (NASDAQ:FOX) by 4.6% in the 2nd quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The institutional investor owned 348,460 shares of the company’s stock after selling 16,702 shares during the quarter. Hsbc Holdings PLC owned 0.07% of FOX worth $11,170,000 at the end of the most recent reporting period.

Several other large investors also recently modified their holdings of FOX. Trexquant Investment LP boosted its position in shares of FOX by 232.5% during the fourth quarter. Trexquant Investment LP now owns 36,186 shares of the company’s stock worth $1,001,000 after buying an additional 25,304 shares during the period. Virtu Financial LLC bought a new stake in FOX during the first quarter worth about $1,711,000. Swedbank AB boosted its position in FOX by 117.8% during the second quarter. Swedbank AB now owns 145,711 shares of the company’s stock valued at $4,666,000 after purchasing an additional 78,801 shares during the last quarter. AMF Tjanstepension AB bought a new position in FOX in the second quarter valued at approximately $7,690,000. Finally, Healthcare of Ontario Pension Plan Trust Fund boosted its holdings in shares of FOX by 47.3% in the 1st quarter. Healthcare of Ontario Pension Plan Trust Fund now owns 362,172 shares of the company’s stock valued at $10,365,000 after buying an additional 116,218 shares during the last quarter. 26.41% of the stock is currently owned by institutional investors.

FOX Stock Up 1.4 %

Shares of FOX stock opened at $37.82 on Tuesday. Fox Co. has a 52-week low of $25.82 and a 52-week 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. The stock has a market cap of $17.65 billion, a price-to-earnings ratio of 11.86, a PEG ratio of 1.90 and a beta of 0.81. The firm’s 50-day moving average is $36.50 and its 200-day moving average is $32.32.

FOX (NASDAQ:FOX) last released its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 earnings per share (EPS) for the quarter, beating analysts’ consensus estimates of $0.87 by $0.03. The company had revenue of $3.09 billion during the quarter, compared to analysts’ expectations of $3.10 billion. FOX had a return on equity of 15.57% and a net margin of 10.74%. During the same period last year, the firm posted $0.88 earnings per share. Sell-side analysts predict that Fox Co. will post 3.59 EPS for the current year.

FOX Increases Dividend

The business also recently disclosed a quarterly dividend, which will be paid on Wednesday, September 25th. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This represents a $1.08 dividend on an annualized basis and a yield of 2.86%. This is a boost from FOX’s previous quarterly dividend of $0.26. The ex-dividend date is Wednesday, September 4th. FOX’s payout ratio is 16.93%.

Insider Transactions at FOX

In related news, CEO Lachlan K. Murdoch purchased 119,705 shares of the firm’s 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 purchase, the chief executive officer now owns 1,076,407 shares in the company, valued at $42,044,457.42. The purchase was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, CEO Lachlan K. Murdoch acquired 119,705 shares of FOX stock in a transaction dated Thursday, August 15th. The stock was 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 directly owns 1,076,407 shares in the company, valued at approximately $42,044,457.42. The transaction was disclosed in a legal filing with the SEC, which is accessible through this link. Also, COO John Nallen sold 52,874 shares of the stock in a transaction that occurred on 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 transaction, the chief operating officer now owns 249,424 shares in the company, valued at approximately $9,717,559.04. The disclosure for this sale can be found here. 19.21% of the stock is currently owned by corporate insiders.

Wall Street Analyst Weigh In

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

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.