Fjarde AP Fonden Fourth Swedish National Pension Fund Sells 9,200 Shares of Fox Corporation $FOXA

Key Points

• The Fjarde AP Fonden Fourth Swedish National Pension Fund sold 9,200 shares of Fox Corporation, reducing its holdings by 19.0%, and now owns 39,288 shares valued at approximately $2.22 million.
• Fox Corporation recently announced a dividend increase from $0.18 to $0.28 per share, payable on September 24th, with shareholders of record on September 3rd.
• Fox's stock has risen 1.4%, closing at $58.97, with strong quarterly earnings showing $1.27 EPS, exceeding analysts' expectations and indicating a revenue increase of 6.3% year-over-year.

Fjarde AP Fonden Fourth Swedish National Pension Fund trimmed its position in shares of Fox Corporation (NASDAQ:FOXA - Free Report) by 19.0% during the 1st quarter, according to its most recent 13F filing with the SEC. The fund owned 39,288 shares of the company's stock after selling 9,200 shares during the quarter. Fjarde AP Fonden Fourth Swedish National Pension Fund's holdings in FOX were worth $2,224,000 at the end of the most recent reporting period.

A number of other institutional investors have also recently made changes to their positions in the stock. Neuberger Berman Group LLC boosted its holdings in shares of FOX by 122.3% during the 1st quarter. Neuberger Berman Group LLC now owns 83,105 shares of the company's stock valued at $4,704,000 after acquiring an additional 45,716 shares during the last quarter. S Bank Fund Management Ltd bought a new position in shares of FOX in the 1st quarter worth approximately $164,000. Russell Investments Group Ltd. lifted its stake in shares of FOX by 30.7% in the 1st quarter. Russell Investments Group Ltd. now owns 480,919 shares of the company's stock worth $27,126,000 after purchasing an additional 112,851 shares during the period. Prudential PLC lifted its stake in shares of FOX by 59.7% in the 1st quarter. Prudential PLC now owns 89,642 shares of the company's stock worth $5,074,000 after purchasing an additional 33,496 shares during the period. Finally, Resona Asset Management Co. Ltd. lifted its stake in shares of FOX by 1.4% in the 1st quarter. Resona Asset Management Co. Ltd. now owns 70,228 shares of the company's stock worth $3,955,000 after purchasing an additional 995 shares during the period. Hedge funds and other institutional investors own 52.52% of the company's stock.

Insider Buying and Selling

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the stock in a transaction on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total transaction of $2,192,202.60. Following the completion of the transaction, the chief financial officer owned 133,923 shares in the company, valued at $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 available through this link. 21.77% of the stock is owned by company insiders.

FOX Price Performance

FOXA traded up $0.2950 during trading on Friday, reaching $59.3250. 1,211,932 shares of the company traded hands, compared to its average volume of 3,929,676. The company has a debt-to-equity ratio of 0.55, a quick ratio of 2.76 and a current ratio of 2.91. Fox Corporation has a 12-month low of $38.72 and a 12-month high of $60.24. The firm has a fifty day simple moving average of $56.02 and a 200 day simple moving average of $54.18. The company has a market cap of $26.43 billion, a P/E ratio of 12.09, a PEG ratio of 1.41 and a beta of 0.54.

FOX (NASDAQ:FOXA - Get Free Report) last announced 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 $1.01 by $0.26. FOX had a net margin of 13.88% and a return on equity of 18.86%. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. During the same period last year, the firm posted $0.90 EPS. The company's revenue was up 6.3% on a year-over-year basis. On average, equities analysts forecast that Fox Corporation will post 4.38 EPS for the current year.

FOX Increases Dividend

The firm also recently disclosed a dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a dividend of $0.28 per share. This is an increase from FOX's previous dividend of $0.18. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio (DPR) is 11.41%.

Wall Street Analyst Weigh In

FOXA has been the topic of several recent research reports. Loop Capital increased their price objective on shares of FOX from $62.00 to $64.00 and gave the stock a "buy" rating in a research note on Tuesday, May 13th. Wells Fargo & Company increased their price objective on shares of FOX from $62.00 to $66.00 and gave the stock an "overweight" rating in a research note on Thursday, August 14th. Cowen reiterated a "hold" rating on shares of FOX in a research note on Tuesday, May 13th. Bank of America increased their price objective on shares of FOX from $60.00 to $65.00 and gave the stock a "buy" rating in a research note on Wednesday, June 25th. Finally, Barclays reiterated an "outperform" rating on shares of FOX in a research note on Tuesday, May 13th. Nine equities research analysts have rated the stock with a Buy rating, nine have given a Hold rating and one has given a Sell rating to the company's stock. According to MarketBeat, FOX presently has a consensus rating of "Hold" and an average price target of $56.20.

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.