Hsbc Holdings PLC Reduces Position in Fox Corporation $FOX

Key Points

• Hsbc Holdings PLC has reduced its stake in Fox Corporation by 1.9%, selling 7,332 shares, and now owns about 373,819 shares valued at approximately $19.6 million.
• In the first quarter, multiple institutional investors increased their holdings in FOX, with Federated Hermes Inc. leading the way with a 66.2% boost.
• Fox Corporation recently reported earnings that exceeded expectations, with revenue of $3.29 billion and a net margin of 13.88%, along with a planned dividend of $0.28 to be paid on September 24th.

Hsbc Holdings PLC reduced its stake in Fox Corporation (NASDAQ:FOX - Free Report) by 1.9% during the first quarter, according to the company in its most recent 13F filing with the SEC. The fund owned 373,819 shares of the company's stock after selling 7,332 shares during the period. Hsbc Holdings PLC owned approximately 0.08% of FOX worth $19,595,000 as of its most recent SEC filing.

Other institutional investors and hedge funds also recently bought and sold shares of the company. Federated Hermes Inc. grew its stake in shares of FOX by 66.2% in the 1st quarter. Federated Hermes Inc. now owns 580 shares of the company's stock worth $31,000 after buying an additional 231 shares in the last quarter. IFP Advisors Inc grew its stake in shares of FOX by 457.6% in 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. Versant Capital Management Inc grew its stake 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 buying an additional 1,031 shares in the last quarter. Covestor Ltd grew its stake in shares of FOX by 37.0% in the 1st quarter. Covestor Ltd now owns 1,402 shares of the company's stock worth $74,000 after buying an additional 379 shares in the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in shares of FOX in the 4th quarter worth $89,000. 26.41% of the stock is currently owned by institutional investors.

Insider Activity at FOX

In related news, CFO Steven Tomsic sold 39,642 shares of FOX stock in a transaction dated 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 directly owned 133,923 shares of the company's stock, valued at approximately $7,405,941.90. The trade was a 22.84% decrease in their position. The transaction was disclosed in a document filed with the Securities & Exchange Commission, which is accessible through the SEC website. Corporate insiders own 23.06% of the company's stock.

FOX Price Performance

Shares of NASDAQ:FOX traded up $0.17 on Friday, reaching $54.47. The company's stock had a trading volume of 61,137 shares, compared to its average volume of 1,219,203. Fox Corporation has a 52-week low of $35.89 and a 52-week high of $55.15. The company has a market cap of $24.27 billion, a P/E ratio of 11.09, a PEG ratio of 1.34 and a beta of 0.58. The company has a 50-day simple moving average of $51.80 and a 200 day simple moving average of $50.20. 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 (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping 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 business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. As a group, equities research analysts anticipate 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. Investors of record on Wednesday, September 3rd will be paid a dividend of $0.28 per share. The ex-dividend date of this dividend is Wednesday, September 3rd. FOX's payout ratio is currently 11.00%.

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.