National Bank of Canada FI Increases Position in Fox Corporation (NASDAQ:FOX)

Key Points

• National Bank of Canada FI increased its stake in Fox Corporation by 37.7%, owning about 1.8 million shares valued at approximately $95.79 million.
• Fox Corporation recently declared a dividend of $0.28 per share, which will be paid to investors of record on September 3rd, with an ex-dividend date also set for September 3rd.
• As of the latest earnings report, Fox Corporation reported $1.27 EPS for the quarter, surpassing estimates by $0.24, and had revenue of $3.29 billion.

National Bank of Canada FI increased its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 37.7% in the first quarter, according to its most recent filing with the SEC. The fund owned 1,817,328 shares of the company's stock after acquiring an additional 497,544 shares during the period. National Bank of Canada FI owned about 0.40% of FOX worth $95,791,000 at the end of the most recent quarter.

A number of other hedge funds have also added to or reduced their stakes in FOX. Sumitomo Mitsui DS Asset Management Company Ltd grew its holdings in FOX by 82.7% in the first quarter. Sumitomo Mitsui DS Asset Management Company Ltd now owns 21,355 shares of the company's stock worth $1,126,000 after purchasing an additional 9,669 shares during the last quarter. Wealth Enhancement Advisory Services LLC grew its holdings in FOX by 24.2% in the first quarter. Wealth Enhancement Advisory Services LLC now owns 5,449 shares of the company's stock worth $287,000 after purchasing an additional 1,060 shares during the last quarter. Cerity Partners LLC purchased a new position in FOX in the first quarter worth $360,000. KBC Group NV lifted its stake in shares of FOX by 35.8% during the first quarter. KBC Group NV now owns 34,095 shares of the company's stock worth $1,797,000 after buying an additional 8,987 shares during the period. Finally, Mirae Asset Global Investments Co. Ltd. lifted its stake in shares of FOX by 9.6% during the first quarter. Mirae Asset Global Investments Co. Ltd. now owns 17,483 shares of the company's stock worth $883,000 after buying an additional 1,528 shares during the period. 26.41% of the stock is currently owned by institutional investors.

Insiders Place Their Bets

In other 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 value of $2,192,202.60. Following the sale, the chief financial officer owned 133,923 shares in the company, valued at $7,405,941.90. This trade represents a 22.84% decrease in their ownership of the stock. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Insiders own 23.06% of the company's stock.

FOX Stock Performance

Shares of NASDAQ:FOX traded up $0.44 on Monday, hitting $49.63. 687,810 shares of the company were exchanged, compared to its average volume of 1,134,992. Fox Corporation has a 1-year low of $35.89 and a 1-year high of $55.00. The stock's 50 day moving average price is $50.81 and its 200 day moving average price is $49.82. 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 market capitalization of $22.31 billion, a P/E ratio of 10.29, a price-to-earnings-growth ratio of 1.21 and a beta of 0.58.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share (EPS) for the quarter, topping the consensus estimate 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. Sell-side analysts predict that Fox Corporation will post 4.25 EPS for the current year.

FOX Announces Dividend

The company also recently disclosed a half year 25 dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued a $0.28 dividend. The ex-dividend date of this dividend 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.