Fox Co. (NASDAQ:FOX) Shares Sold by Canada Pension Plan Investment Board

Canada Pension Plan Investment Board reduced its position in Fox Co. (NASDAQ:FOX - Free Report) by 30.7% during the 2nd quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund owned 306,098 shares of the company's stock after selling 135,300 shares during the quarter. Canada Pension Plan Investment Board owned about 0.07% of FOX worth $9,801,000 at the end of the most recent reporting period.

A number of other large investors have also made changes to their positions in the business. Dimensional Fund Advisors LP increased its holdings in shares of FOX by 1.0% during the fourth quarter. Dimensional Fund Advisors LP now owns 2,070,204 shares of the company's stock valued at $57,243,000 after acquiring an additional 20,306 shares in the last quarter. Trexquant Investment LP increased its stake in FOX by 232.5% during the 4th quarter. Trexquant Investment LP now owns 36,186 shares of the company's stock valued at $1,001,000 after purchasing an additional 25,304 shares in the last quarter. TD Asset Management Inc increased its stake in FOX by 15.6% during the 4th quarter. TD Asset Management Inc now owns 242,390 shares of the company's stock valued at $6,702,000 after purchasing an additional 32,703 shares in the last quarter. Portfolio Design Labs LLC purchased a new position in shares of FOX in the fourth quarter worth $2,881,000. Finally, Treasurer of the State of North Carolina lifted its stake in shares of FOX by 0.8% during the fourth quarter. Treasurer of the State of North Carolina now owns 89,496 shares of the company's stock worth $2,475,000 after buying an additional 713 shares during the period. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Stock Performance

Shares of FOX stock traded down $0.42 on Wednesday, reaching $38.44. 772,261 shares of the stock were exchanged, compared to its average volume of 1,131,611. The business has a 50 day moving average price of $36.60 and a two-hundred day moving average price of $32.41. The firm has a market capitalization of $17.69 billion, a price-to-earnings ratio of 12.05, a PEG ratio of 1.97 and a beta of 0.81. Fox Co. has a twelve month low of $25.82 and a twelve month high of $39.00. The company has a quick ratio of 2.33, a current ratio of 2.54 and a debt-to-equity ratio of 0.61.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data on Tuesday, August 6th. The company reported $0.90 EPS for the quarter, beating the consensus estimate of $0.87 by $0.03. The business had revenue of $3.09 billion during the quarter, compared to analysts' expectations 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 business posted $0.88 EPS. 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. Shareholders of record on Wednesday, September 4th will be given a dividend of $0.27 per share. This is an increase from FOX's previous quarterly dividend of $0.26. This represents a $1.08 annualized dividend and a yield of 2.81%. The ex-dividend date of this dividend is Wednesday, September 4th. FOX's dividend payout ratio (DPR) is currently 16.93%.

Insider Buying and Selling at FOX

In other FOX news, COO John Nallen sold 52,874 shares of the business's 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 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 sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. In other FOX news, COO John Nallen sold 52,874 shares of FOX stock in a transaction on Thursday, August 15th. The shares were 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 owns 249,424 shares of the company's stock, valued at $9,717,559.04. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this link. Also, CEO Lachlan K. Murdoch acquired 119,705 shares of the firm's stock in a transaction on Thursday, August 15th. The stock was purchased at an average price of $39.06 per share, with a total value of $4,675,677.30. Following the transaction, the chief executive officer now owns 1,076,407 shares of the company's stock, valued at approximately $42,044,457.42. The disclosure for this purchase can be found here. Company insiders own 19.21% of the company's stock.

Analyst Upgrades and Downgrades

Separately, Seaport Res Ptn lowered FOX from a "strong-buy" rating to a "hold" rating in a research note 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.