Prudential PLC Lowers Position in Fox Corporation $FOX

Key Points

• Prudential PLC reduced its stake in Fox Corporation by 54.2%, selling 12,571 shares, leaving it with 10,617 shares valued at approximately $560,000.
• Fox Corporation CFO Steven Tomsic sold 39,642 shares for over $2.19 million, resulting in a 22.84% decrease in his ownership.
• Fox Corporation declared a dividend of $0.28 per share, with a payout ratio of 11.41%, to be paid on September 24th.

Prudential PLC reduced its holdings in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 54.2% in the first quarter, according to the company in its most recent 13F filing with the Securities and Exchange Commission (SEC). The firm owned 10,617 shares of the company's stock after selling 12,571 shares during the period. Prudential PLC's holdings in FOX were worth $560,000 at the end of the most recent reporting period.

Other large investors also recently bought and sold shares of the company. Federated Hermes Inc. lifted 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 acquiring an additional 231 shares during the period. IFP Advisors Inc boosted its holdings in shares of FOX by 457.6% in the first quarter. IFP Advisors Inc now owns 697 shares of the company's stock worth $37,000 after buying an additional 572 shares during the last quarter. Versant Capital Management Inc boosted its holdings in shares of FOX by 327.3% in the first 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 during the last quarter. Covestor Ltd boosted its holdings in shares of FOX by 37.0% in the first quarter. Covestor Ltd now owns 1,402 shares of the company's stock worth $74,000 after buying an additional 379 shares during the last quarter. Finally, Mufg Securities Americas Inc. purchased a new position in FOX during the fourth quarter valued at approximately $89,000. 26.41% of the stock is owned by hedge funds and other institutional investors.

Insider Activity at FOX

In other news, CFO Steven Tomsic sold 39,642 shares of the business's stock in a transaction 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 transaction, the chief financial officer 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 ownership of the stock. The transaction was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Company insiders own 23.06% of the company's stock.

FOX Price Performance

NASDAQ:FOX traded up $0.86 during trading hours on Wednesday, hitting $54.08. 352,513 shares of the stock traded hands, compared to its average volume of 1,219,867. The company has a quick ratio of 2.76, a current ratio of 2.91 and a debt-to-equity ratio of 0.55. Fox Corporation has a 1 year low of $35.89 and a 1 year high of $55.00. The company has a market cap of $24.09 billion, a price-to-earnings ratio of 11.01, a price-to-earnings-growth ratio of 1.30 and a beta of 0.58. The stock has a 50 day moving average price of $51.20 and a 200 day moving average price of $50.02.

FOX (NASDAQ:FOX - Get Free Report) last issued its quarterly earnings results on Tuesday, August 5th. The company reported $1.27 earnings per share for the quarter, beating 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 business had revenue of $3.29 billion for the quarter, compared to the consensus estimate of $3.12 billion. Sell-side analysts forecast that Fox Corporation will post 4.25 EPS for the current fiscal year.

FOX Dividend Announcement

The company also recently declared a half year 25 dividend, which will be paid on Wednesday, September 24th. Shareholders of record on Wednesday, September 3rd will be issued 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%.

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.