Citigroup Inc. Boosts Stock Position in Fox Corporation (NASDAQ:FOX)

Key Points

• Citigroup Inc. increased its stake in Fox Corporation by 2.4%, holding 588,294 shares valued at approximately $31 million as of the latest SEC filing.
• Other hedge funds also made significant adjustments to their holdings in FOX, with Federated Hermes Inc. leading with a 66.2% increase in its stake.
• Fox Corporation announced a dividend of $0.28 per share to be paid on September 24th, with a payout ratio of 11.00%.

Citigroup Inc. lifted its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 2.4% during the first quarter, according to its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 588,294 shares of the company's stock after buying an additional 13,537 shares during the quarter. Citigroup Inc. owned approximately 0.13% of FOX worth $31,009,000 as of its most recent SEC filing.

Other hedge funds and other institutional investors have also recently modified their holdings of the company. Vanguard Group Inc. lifted its stake in shares of FOX by 1.7% in the 1st quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock worth $768,799,000 after purchasing an additional 249,246 shares during the period. Dimensional Fund Advisors LP lifted its stake in shares of FOX by 5.6% in the 4th quarter. Dimensional Fund Advisors LP now owns 2,468,268 shares of the company's stock worth $112,908,000 after purchasing an additional 131,018 shares during the period. Northern Trust Corp lifted its stake in shares of FOX by 5.8% in the 4th quarter. Northern Trust Corp now owns 1,523,894 shares of the company's stock worth $69,703,000 after purchasing an additional 83,904 shares during the period. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its stake in shares of FOX by 19.1% in the 4th quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,417,953 shares of the company's stock worth $64,857,000 after purchasing an additional 227,589 shares during the period. Finally, Nuveen Asset Management LLC lifted its stake in shares of FOX by 5.2% in the 4th quarter. Nuveen Asset Management LLC now owns 1,041,588 shares of the company's stock worth $47,642,000 after purchasing an additional 51,662 shares during the period. 26.41% of the stock is owned by hedge funds and other institutional investors.

FOX Stock Performance

NASDAQ FOX traded down $1.19 on Friday, reaching $53.39. 923,301 shares of the stock were exchanged, compared to its average volume of 1,154,054. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. Fox Corporation has a one year low of $35.89 and a one year high of $55.00. The firm has a market capitalization of $24.01 billion, a PE ratio of 10.87, a PEG ratio of 1.34 and a beta of 0.58. The company's 50-day simple moving average is $51.08 and its two-hundred day simple moving average is $49.94.

FOX (NASDAQ:FOX - Get Free Report) last posted its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, topping analysts' consensus estimates of $1.03 by $0.24. The business had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. FOX had a net margin of 13.88% and a return on equity of 18.86%. Analysts expect that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The company also recently declared a half year 25 dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be given a $0.28 dividend. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is presently 11.41%.

Insider Buying and Selling at FOX

In other FOX news, CFO Steven Tomsic sold 39,642 shares of the company's stock in a transaction that occurred on Tuesday, June 3rd. The shares were sold at an average price of $55.30, for a total value of $2,192,202.60. Following the completion of the transaction, the chief financial officer directly owned 133,923 shares in the company, valued at $7,405,941.90. This represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is available through this hyperlink. 23.06% of the stock is currently owned by insiders.

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.