Intech Investment Management LLC Sells 30,026 Shares of Fox Corporation $FOX

Key Points

• Intech Investment Management LLC reduced its holdings in Fox Corporation by 45.7%, selling 30,026 shares to now own 35,676 shares valued at approximately $1.88 million.
• The company reported a Q2 earnings per share (EPS) of $1.27, surpassing the consensus estimate of $1.03, with a revenue of $3.29 billion against expectations of $3.12 billion.
• Fox Corporation has announced a quarterly dividend of $0.28, to be paid on September 24, with the current dividend payout ratio at 11.41%.

Intech Investment Management LLC trimmed its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 45.7% during the first quarter, according to the company in its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 35,676 shares of the company's stock after selling 30,026 shares during the period. Intech Investment Management LLC's holdings in FOX were worth $1,880,000 at the end of the most recent reporting period.

A number of other hedge funds and other institutional investors have also recently bought and sold shares of FOX. Sumitomo Mitsui DS Asset Management Company Ltd lifted its position in shares of FOX by 82.7% during the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company's stock worth $1,126,000 after purchasing an additional 9,669 shares in the last quarter. Wealth Enhancement Advisory Services LLC lifted its position in shares of FOX by 24.2% during the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,449 shares of the company's stock worth $287,000 after purchasing an additional 1,060 shares in the last quarter. Charles Schwab Investment Management Inc. lifted 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 purchasing an additional 5,089 shares in the last quarter. Cerity Partners LLC acquired a new position in shares of FOX during the first quarter worth $360,000. Finally, KBC Group NV increased its stake in shares of FOX by 35.8% in the first quarter. KBC Group NV now owns 34,095 shares of the company's stock worth $1,797,000 after buying an additional 8,987 shares during the last quarter. 26.41% of the stock is owned by institutional investors and hedge funds.

FOX Stock Up 1.0%

Shares of NASDAQ:FOX traded up $0.53 during midday trading on Friday, reaching $54.55. The company had a trading volume of 4,093,482 shares, compared to its average volume of 2,234,677. The company has a debt-to-equity ratio of 0.55, a current ratio of 2.91 and a quick ratio of 2.76. Fox Corporation has a one year low of $37.27 and a one year high of $57.02. The stock's fifty day moving average price is $52.69 and its 200-day moving average price is $50.34. The stock has a market capitalization of $24.30 billion, a P/E ratio of 11.11, a PEG ratio of 1.33 and a beta of 0.57.

FOX (NASDAQ:FOX - Get Free Report) last announced its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, beating 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 during the quarter, compared to the consensus estimate of $3.12 billion. Equities research analysts expect 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 is Wednesday, September 3rd. FOX's dividend payout ratio is currently 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.