GABELLI & Co INVESTMENT ADVISERS INC. Buys 10,950 Shares of Fox Corporation $FOX

Key Points

• GABELLI & Co INVESTMENT ADVISERS INC. increased its stake in Fox Corporation by 4.9%, acquiring an additional 10,950 shares, bringing its total to 236,011 shares, which accounts for approximately 1.9% of its investment portfolio.
• Fox Corporation reported a 67.5% increase in earnings per share (EPS) for the most recent quarter, beating analysts' expectations with $1.27 versus the forecasted $1.03.
• The company announced a semi-annual dividend of $0.28 per share, which will be paid to stockholders on September 24th to those on record as of September 3rd.

GABELLI & Co INVESTMENT ADVISERS INC. increased its position in Fox Corporation (NASDAQ:FOX - Free Report) by 4.9% in the 1st quarter, according to its most recent disclosure with the Securities and Exchange Commission (SEC). The firm owned 236,011 shares of the company's stock after buying an additional 10,950 shares during the quarter. FOX accounts for approximately 1.9% of GABELLI & Co INVESTMENT ADVISERS INC.'s investment portfolio, making the stock its 16th largest position. GABELLI & Co INVESTMENT ADVISERS INC. owned approximately 0.05% of FOX worth $12,440,000 at the end of the most recent quarter.

Several other institutional investors and hedge funds also recently made changes to their positions in FOX. Federated Hermes Inc. increased its position in FOX by 66.2% during the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after purchasing an additional 231 shares during the period. IFP Advisors Inc grew its position in shares of 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 during the period. Northwestern Mutual Wealth Management Co. grew its position in shares of 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 during the period. SVB Wealth LLC acquired a new stake in shares of FOX during the 1st quarter worth approximately $69,000. Finally, Versant Capital Management Inc lifted its holdings 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 worth $71,000 after purchasing an additional 1,031 shares in the last quarter. Institutional investors and hedge funds own 26.41% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of FOX stock in a transaction on Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total transaction of $310,459.59. Following the sale, the chief financial officer directly owned 133,923 shares in the company, valued at $7,415,316.51. The trade was a 4.02% decrease in their position. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. 23.06% of the stock is owned by insiders.

FOX Stock Performance

FOX opened at $54.64 on Tuesday. The company has a market cap of $24.34 billion, a price-to-earnings ratio of 11.13, a PEG ratio of 1.34 and a beta of 0.58. The company's fifty day moving average price is $51.55 and its two-hundred day moving average price is $50.12. Fox Corporation has a 1-year low of $35.89 and a 1-year high of $55.15. 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 (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, beating analysts' consensus estimates of $1.03 by $0.24. FOX had a net margin of 13.88% and a return on equity of 18.86%. The firm had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. On average, analysts expect that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Announces Dividend

The firm 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 paid a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. FOX's payout ratio is presently 11.00%.

FOX Company 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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