Independent Franchise Partners LLP Trims Stock Holdings in Fox Corporation $FOX

Key Points

• Independent Franchise Partners LLP reduced its stake in Fox Corporation by 7.8% during the first quarter, now holding approximately 5.26 million shares valued at about $277 million.
• Several large investors, including Nuveen LLC and GAMMA Investing LLC, have recently adjusted their holdings in FOX, indicating ongoing interest from institutional investors.
• Fox Corporation announced a $0.28 dividend to be paid on September 24th, with an ex-dividend date of September 3rd, reflecting a dividend payout ratio of 11.00%.

Independent Franchise Partners LLP decreased its holdings in Fox Corporation (NASDAQ:FOX - Free Report) by 7.8% in the 1st quarter, according to its most recent Form 13F filing with the Securities & Exchange Commission. The institutional investor owned 5,260,915 shares of the company's stock after selling 445,471 shares during the period. FOX accounts for about 2.0% of Independent Franchise Partners LLP's holdings, making the stock its 20th biggest position. Independent Franchise Partners LLP owned 1.16% of FOX worth $277,303,000 at the end of the most recent quarter.

Other large investors have also recently modified their holdings of the company. Nuveen LLC bought a new position in shares of FOX in the first quarter valued at approximately $54,630,000. National Bank of Canada FI boosted its position in shares of FOX by 37.7% in the first quarter. National Bank of Canada FI now owns 1,817,328 shares of the company's stock valued at $95,791,000 after acquiring an additional 497,544 shares during the period. GAMMA Investing LLC boosted its position in shares of FOX by 7,082.8% in the first quarter. GAMMA Investing LLC now owns 472,914 shares of the company's stock valued at $24,927,000 after acquiring an additional 466,330 shares during the period. Vanguard Group Inc. boosted its position in shares of FOX by 1.7% in the first quarter. Vanguard Group Inc. now owns 14,585,444 shares of the company's stock valued at $768,799,000 after acquiring an additional 249,246 shares during the period. Finally, Virtu Financial LLC boosted its position in shares of FOX by 364.4% in the first quarter. Virtu Financial LLC now owns 296,316 shares of the company's stock valued at $15,619,000 after acquiring an additional 232,508 shares during the period. Hedge funds and other institutional investors own 26.41% of the company's stock.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the firm'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 approximately $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The transaction was disclosed in a legal filing with the Securities & Exchange Commission, which can be accessed through the SEC website. Company insiders own 23.06% of the company's stock.

FOX Price Performance

FOX stock opened at $54.43 on Friday. The firm has a 50 day moving average of $51.47 and a 200-day moving average of $50.09. 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 12 month low of $35.89 and a 12 month high of $55.15. The firm has a market capitalization of $24.25 billion, a P/E ratio of 11.09, a price-to-earnings-growth ratio of 1.34 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last released its quarterly earnings data on Tuesday, August 5th. The company reported $1.27 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 company had revenue of $3.29 billion during the quarter, compared to analyst estimates of $3.12 billion. As a group, sell-side analysts predict that Fox Corporation will post 4.25 earnings per share for the current fiscal year.

FOX Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Stockholders 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 (DPR) is 11.00%.

FOX 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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