Public Sector Pension Investment Board Has $10.99 Million Holdings in Fox Corporation $FOX

Key Points

• The Public Sector Pension Investment Board has reduced its stake in Fox Corporation by 9.8%, now holding 208,411 shares valued at approximately $10.98 million.
• Despite the reduction, other institutional investors, like Federated Hermes Inc., have increased their holdings in FOX, indicating mixed sentiment among hedge funds.
• Fox Corporation recently reported quarterly earnings of $1.27 per share, surpassing expectations, along with announcing a dividend of $0.28 per share to be paid on September 24th.

Public Sector Pension Investment Board cut its position in shares of Fox Corporation (NASDAQ:FOX - Free Report) by 9.8% during the 1st quarter, according to the company in its most recent filing with the SEC. The firm owned 208,411 shares of the company's stock after selling 22,604 shares during the quarter. Public Sector Pension Investment Board's holdings in FOX were worth $10,985,000 as of its most recent filing with the SEC.

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

Insider Activity

In other FOX news, CFO Steven Tomsic sold 5,607 shares of the business's stock in a transaction dated Wednesday, June 4th. The stock was sold at an average price of $55.37, for a total value of $310,459.59. Following the completion of the sale, the chief financial officer owned 133,923 shares of the company's stock, valued at $7,415,316.51. The trade was a 4.02% decrease in their ownership of the stock. The sale was disclosed in a filing with the Securities & Exchange Commission, which is available at this hyperlink. 23.06% of the stock is currently owned by corporate insiders.

FOX Stock Down 1.5%

Shares of FOX stock traded down $0.78 during midday trading on Monday, hitting $52.61. The company's stock had a trading volume of 287,027 shares, compared to its average volume of 1,225,344. The firm has a market capitalization of $23.44 billion, a P/E ratio of 10.71, a PEG ratio of 1.31 and a beta of 0.58. The stock has a 50-day simple moving average of $51.08 and a 200-day simple moving average of $49.97. 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.

FOX (NASDAQ:FOX - Get Free Report) last issued its earnings results on Tuesday, August 5th. The company reported $1.27 EPS for the quarter, topping the consensus estimate of $1.03 by $0.24. The business had revenue of $3.29 billion during the quarter, compared to analysts' expectations of $3.12 billion. FOX had a return on equity of 18.86% and a net margin of 13.88%. As a group, sell-side analysts expect that Fox Corporation will post 4.25 earnings per share for the current year.

FOX Dividend Announcement

The company also recently declared 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 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.