Forsta AP Fonden Grows Stock Position in Fox Corporation (NASDAQ:FOX)

Key Points

• Forsta AP Fonden increased its stake in Fox Corporation by 450.6% in Q1, owning 47,900 shares valued at $2,525,000 after acquiring an additional 39,200 shares.
• Fox Corporation reported a quarterly earnings per share of $1.27, surpassing estimates by $0.24, with total revenue of $3.29 billion.
• The company declared a half-year dividend of $0.28, to be paid on September 24th, with an ex-dividend date of September 3rd.

Forsta AP Fonden boosted its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 450.6% in the first quarter, according to the company in its most recent 13F filing with the Securities & Exchange Commission. The firm owned 47,900 shares of the company's stock after acquiring an additional 39,200 shares during the quarter. Forsta AP Fonden's holdings in FOX were worth $2,525,000 at the end of the most recent reporting period.

A number of other institutional investors and hedge funds have also recently bought and sold shares of the stock. National Bank of Canada FI increased its position 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 worth $95,791,000 after acquiring an additional 497,544 shares during the last quarter. Citigroup Inc. increased its position in shares of FOX by 2.4% during the first quarter. Citigroup Inc. now owns 588,294 shares of the company's stock worth $31,009,000 after acquiring an additional 13,537 shares during the last quarter. Mitsubishi UFJ Asset Management Co. Ltd. increased its position in shares of FOX by 12.0% during the first quarter. Mitsubishi UFJ Asset Management Co. Ltd. now owns 278,944 shares of the company's stock worth $14,703,000 after acquiring an additional 29,804 shares during the last quarter. Deutsche Bank AG increased its position in shares of FOX by 10.9% during the first quarter. Deutsche Bank AG now owns 1,004,090 shares of the company's stock worth $52,926,000 after acquiring an additional 99,059 shares during the last quarter. Finally, Charles Schwab Investment Management Inc. increased its position in shares of FOX by 13.4% during the first quarter. Charles Schwab Investment Management Inc. now owns 43,126 shares of the company's stock worth $2,273,000 after acquiring an additional 5,089 shares during the last quarter. Hedge funds and other institutional investors own 26.41% of the company's stock.

FOX Stock Up 0.9%

Shares of NASDAQ FOX opened at $49.63 on Tuesday. Fox Corporation has a 1 year low of $35.89 and a 1 year high of $55.00. The firm has a market cap of $22.31 billion, a price-to-earnings ratio of 10.11, a PEG ratio of 1.21 and a beta of 0.58. 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's 50-day simple moving average is $50.81 and its 200-day simple moving average is $49.82.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings data 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 firm had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%. As a group, equities analysts anticipate that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Dividend Announcement

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

Insiders Place Their Bets

In related news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the sale, the chief financial officer directly owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available through this link. 23.06% of the stock is currently owned by corporate insiders.

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.

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