CCM Investment Group LLC Takes Position in Fox Corporation (NASDAQ:FOX)

Key Points

• CCM Investment Group LLC has acquired 12,972 shares of Fox Corporation, valued at approximately $655,000, marking an increase in institutional investments in the company.
• Fox Corporation reported a better-than-expected earnings per share of $1.27 for the last quarter, surpassing analyst estimates of $1.03, with revenues of $3.29 billion.
• The company has announced a dividend of $0.28 per share to be paid on September 24th, following the ex-dividend date of September 3rd.

CCM Investment Group LLC purchased a new stake in Fox Corporation (NASDAQ:FOX - Free Report) in the 1st quarter, according to its most recent filing with the SEC. The institutional investor purchased 12,972 shares of the company's stock, valued at approximately $655,000.

Several other large investors have also recently added to or reduced their stakes in FOX. Nuveen LLC acquired a new stake in shares of FOX during the first quarter valued at about $54,630,000. Independent Franchise Partners LLP grew its stake in shares of FOX by 15.4% during the fourth quarter. Independent Franchise Partners LLP now owns 5,706,386 shares of the company's stock valued at $261,010,000 after acquiring an additional 759,874 shares in the last quarter. National Bank of Canada FI grew its stake in shares of FOX by 37.7% during the first quarter. National Bank of Canada FI now owns 1,817,328 shares of the company's stock valued at $95,791,000 after acquiring an additional 497,544 shares in the last quarter. GAMMA Investing LLC grew its stake in shares of FOX by 7,082.8% during the first quarter. GAMMA Investing LLC now owns 472,914 shares of the company's stock valued at $24,927,000 after acquiring an additional 466,330 shares in the last quarter. Finally, Barclays PLC grew its stake in shares of FOX by 60.9% during the fourth quarter. Barclays PLC now owns 870,380 shares of the company's stock valued at $39,812,000 after acquiring an additional 329,591 shares in the last quarter. 26.41% of the stock is currently owned by institutional investors and hedge funds.

FOX Stock Up 1.5%

Shares of FOX stock traded up $0.80 during trading hours on Thursday, hitting $54.58. 864,801 shares of the company's stock traded hands, compared to its average volume of 1,233,284. The stock has a 50 day simple moving average of $50.90 and a 200-day simple moving average of $49.85. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. The company has a market cap of $24.54 billion, a PE ratio of 11.12, a PEG ratio of 1.26 and a beta of 0.58. Fox Corporation has a twelve month low of $35.89 and a twelve month high of $55.00.

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

FOX Dividend Announcement

The company also recently declared a half year 25 dividend, which will be paid on Wednesday, September 24th. Investors of record on Wednesday, September 3rd will be paid a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.00%.

Insider Buying and Selling

In related news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated Tuesday, June 3rd. The stock was sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through this link. Company insiders own 23.06% 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 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.