Canada Pension Plan Investment Board Sells 4,600 Shares of Fox Corporation $FOX

Key Points

• The Canada Pension Plan Investment Board reduced its position in Fox Corporation by 4.9%, owning 88,400 shares valued at approximately $4.66 million after selling 4,600 shares in the 1st quarter.
• Fox Corporation reported earnings of $1.27 per share, exceeding estimates, with a revenue of $3.29 billion for the quarter, signaling strong financial performance.
• The company has announced a $0.28 per share dividend set to be paid on September 24th, with a payout ratio of 11.00%.

Canada Pension Plan Investment Board lessened its position in Fox Corporation (NASDAQ:FOX - Free Report) by 4.9% in the 1st quarter, according to the company in its most recent filing with the SEC. The institutional investor owned 88,400 shares of the company's stock after selling 4,600 shares during the quarter. Canada Pension Plan Investment Board's holdings in FOX were worth $4,660,000 as of its most recent filing with the SEC.

A number of other institutional investors also recently modified their holdings of the stock. Federated Hermes Inc. lifted its stake in FOX by 66.2% in the first quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after acquiring an additional 231 shares during the period. IFP Advisors Inc boosted its position in shares of FOX by 457.6% during the 1st quarter. IFP Advisors Inc now owns 697 shares of the company's stock worth $37,000 after acquiring an additional 572 shares in the last quarter. Northwestern Mutual Wealth Management Co. increased its stake in FOX by 183.0% in the 1st quarter. Northwestern Mutual Wealth Management Co. now owns 801 shares of the company's stock valued at $42,000 after purchasing an additional 518 shares in the last quarter. SVB Wealth LLC purchased a new position in FOX in the first quarter valued at about $69,000. Finally, Versant Capital Management Inc boosted its stake in FOX by 327.3% in the first quarter. Versant Capital Management Inc now owns 1,346 shares of the company's stock valued at $71,000 after acquiring an additional 1,031 shares during the period. 26.41% of the stock is owned by institutional investors.

FOX Stock Performance

Shares of NASDAQ:FOX traded up $0.80 during midday trading on Monday, hitting $56.77. The company's stock had a trading volume of 419,268 shares, compared to its average volume of 1,220,863. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. The stock has a market capitalization of $25.29 billion, a price-to-earnings ratio of 11.56, a PEG ratio of 1.38 and a beta of 0.57. The stock's 50 day simple moving average is $52.23 and its 200 day simple moving average is $50.29. Fox Corporation has a fifty-two week low of $35.89 and a fifty-two week high of $56.78.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping analysts' consensus estimates of $1.03 by $0.24. FOX had a return on equity of 18.86% and a net margin of 13.88%.The business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. As a group, research analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The firm also recently declared a half year 25 dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is currently 11.41%.

FOX Profile

Fox Corporation operates as a news, sports, and entertainment company in the United States (U.S.). The company operates through four segments: Cable Network Programming, Television, Credible, and The FOX Studio Lot. The Cable Network Programming segment produces and licenses 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.