Invesco Ltd. Cuts Stock Holdings in Fox Corporation (NASDAQ:FOX)

Key Points

• Invesco Ltd. reduced its stake in Fox Corporation by 10.3%, resulting in ownership of approximately 1.72 million shares valued at about $90.56 million.
• Fox Corporation reported $1.27 earnings per share for the last quarter, exceeding analysts' estimates by $0.24, with a revenue of $3.29 billion.
• The company announced a dividend of $0.28 per share to be paid on September 24, reflecting a payout ratio of 11.41%.

Invesco Ltd. trimmed its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 10.3% in the 1st quarter, according to the company in its most recent disclosure with the Securities & Exchange Commission. The firm owned 1,718,105 shares of the company's stock after selling 198,078 shares during the period. Invesco Ltd. owned about 0.38% of FOX worth $90,561,000 at the end of the most recent reporting period.

Several other institutional investors have also added to or reduced their stakes in the business. Federated Hermes Inc. boosted its position in FOX by 66.2% during the first quarter. Federated Hermes Inc. now owns 580 shares of the company's stock valued at $31,000 after buying an additional 231 shares during the period. PNC Financial Services Group Inc. boosted its position in FOX by 0.8% during the first quarter. PNC Financial Services Group Inc. now owns 34,898 shares of the company's stock valued at $1,839,000 after buying an additional 266 shares during the period. CWM LLC boosted its position in FOX by 16.6% during the first quarter. CWM LLC now owns 1,892 shares of the company's stock valued at $100,000 after buying an additional 270 shares during the period. Teachers Retirement System of The State of Kentucky boosted its position in FOX by 2.8% during the first quarter. Teachers Retirement System of The State of Kentucky now owns 10,040 shares of the company's stock valued at $529,000 after buying an additional 270 shares during the period. Finally, Fifth Third Bancorp boosted its holdings in shares of FOX by 7.5% during the first quarter. Fifth Third Bancorp now owns 4,398 shares of the company's stock worth $232,000 after purchasing an additional 307 shares during the period. 26.41% of the stock is currently owned by hedge funds and other institutional investors.

Insider Buying and Selling at FOX

In other news, CFO Steven Tomsic sold 5,607 shares of the stock in a transaction dated Wednesday, June 4th. The shares were sold at an average price of $55.37, for a total transaction of $310,459.59. Following the completion of the sale, the chief financial officer directly owned 133,923 shares in the company, valued at approximately $7,415,316.51. This represents a 4.02% decrease in their ownership of the stock. The transaction was disclosed in a document filed with the SEC, which is accessible through this hyperlink. Corporate insiders own 23.06% of the company's stock.

FOX Stock Performance

FOX stock opened at $53.39 on Friday. The company has a current ratio of 2.91, a quick ratio of 2.76 and a debt-to-equity ratio of 0.55. The firm has a 50-day moving average of $51.08 and a 200-day moving average of $49.94. The firm has a market cap of $24.01 billion, a P/E ratio of 10.87, a P/E/G ratio of 1.34 and a beta of 0.58. Fox Corporation has a 1-year low of $35.89 and a 1-year high of $55.00.

FOX (NASDAQ:FOX - Get Free Report) last posted its 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 company 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%. Sell-side analysts expect that Fox Corporation will post 4.25 EPS for the current year.

FOX Announces Dividend

The company 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 issued a dividend of $0.28 per share. The ex-dividend date is Wednesday, September 3rd. FOX's dividend payout ratio is currently 11.41%.

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.

Want to see what other hedge funds are holding FOX? Visit HoldingsChannel.com to get the latest 13F filings and insider trades for Fox Corporation (NASDAQ:FOX - Free Report).

This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest and most accurate reporting. This story was reviewed by MarketBeat's editorial team prior to publication. Please send any questions or comments about this story to contact@marketbeat.com.