Ethic Inc. Sells 11,841 Shares of Fox Corporation $FOX

Key Points

• Ethic Inc. reduced its holdings in Fox Corporation by 14.2%, selling 11,841 shares in the second quarter, leaving it with 71,299 shares valued at approximately $3.73 million.
• Several hedge funds, including Vanguard Group and National Bank of Canada FI, have increased their stakes in Fox Corporation, with Vanguard growing its holdings by 1.7% for a total of 14.6 million shares.
• Fox Corporation recently had its rating upgraded to strong-buy by Zacks Research, contributing to a consensus rating of Buy from analysts.

Ethic Inc. cut its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 14.2% in the second quarter, according to the company in its most recent disclosure with the SEC. The institutional investor owned 71,299 shares of the company's stock after selling 11,841 shares during the quarter. Ethic Inc.'s holdings in FOX were worth $3,733,000 as of its most recent SEC filing.

A number of other hedge funds have also modified their holdings of the company. Vanguard Group Inc. grew its holdings in shares of FOX by 1.7% during the first quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock worth $768,799,000 after buying an additional 249,246 shares in the last quarter. National Bank of Canada FI boosted its position in 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 purchasing an additional 497,544 shares during the last quarter. Amundi boosted its position in FOX by 5.7% during the first quarter. Amundi now owns 1,637,280 shares of the company's stock valued at $86,301,000 after purchasing an additional 88,278 shares during the last quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC boosted its position in FOX by 15.2% during the first quarter. UBS AM A Distinct Business Unit of UBS Asset Management Americas LLC now owns 1,633,430 shares of the company's stock valued at $86,098,000 after purchasing an additional 215,477 shares during the last quarter. Finally, Nuveen LLC acquired a new position in FOX during the first quarter valued at approximately $54,630,000. 26.41% of the stock is currently owned by institutional investors.

Analyst Upgrades and Downgrades

FOX has been the subject of several recent research reports. Zacks Research raised FOX from a "hold" rating to a "strong-buy" rating in a research report on Tuesday, October 7th. Weiss Ratings reissued a "buy (b+)" rating on shares of FOX in a research report on Wednesday, October 8th. One equities research analyst has rated the stock with a Strong Buy rating, one has assigned a Buy rating and one has assigned a Hold rating to the company. According to MarketBeat, the stock has a consensus rating of "Buy".

FOX Stock Performance

FOX opened at $52.83 on Friday. Fox Corporation has a 12-month low of $38.16 and a 12-month high of $59.29. The stock has a market cap of $23.54 billion, a price-to-earnings ratio of 10.76, a PEG ratio of 1.29 and a beta of 0.59. The business has a 50 day moving average of $53.97 and a 200-day moving average of $51.04. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55.

FOX (NASDAQ:FOX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating 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 company had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. On average, equities research analysts expect that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Announces Dividend

The firm also recently disclosed a half year 25 dividend, which was paid on Wednesday, September 24th. Stockholders of record on Wednesday, September 3rd were given a $0.28 dividend. The ex-dividend date of this dividend was Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is presently 11.41%.

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.

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