Wedge Capital Management L L P NC Lowers Position in Fox Corporation $FOX

Key Points

• Wedge Capital Management has reduced its stake in Fox Corporation by 5%, now holding 758,619 shares worth approximately $39.17 million.
• A number of institutional investors have increased their holdings in Fox Corporation, notably Vanguard Group Inc. and National Bank of Canada FI, which raised their stakes by 1.7% and 37.7% respectively in the latest quarter.
• Fox Corporation reported earnings of $1.27 per share for the last quarter, exceeding analysts' estimates, and declared a $0.28 dividend to be paid on September 24th.

Wedge Capital Management L L P NC trimmed its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 5.0% during the 2nd quarter, according to the company in its most recent Form 13F filing with the SEC. The fund owned 758,619 shares of the company's stock after selling 40,094 shares during the quarter. Wedge Capital Management L L P NC owned 0.17% of FOX worth $39,167,000 at the end of the most recent reporting period.

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

FOX Stock Down 0.9%

NASDAQ:FOX traded down $0.51 during midday trading on Tuesday, hitting $55.51. 905,874 shares of the company were exchanged, compared to its average volume of 1,362,984. Fox Corporation has a fifty-two week low of $37.72 and a fifty-two week high of $57.02. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The company has a market capitalization of $24.73 billion, a PE ratio of 11.31, a price-to-earnings-growth ratio of 1.34 and a beta of 0.57. The company has a fifty day simple moving average of $52.78 and a 200 day simple moving average of $50.35.

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

FOX Announces Dividend

The company also recently announced a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders 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 presently 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.